Effective Ways to Handle the Change Management for Cost in Various Types of Contracts

Nandini, S. Sree; Varadharajan, R.; Kumar, S. Kishore; Krishnaraj, L.

doi:10.1007/978-981-16-5839-6_43

Cited by 3 publications

(1 citation statement)

References 18 publications

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“…Changing the construction contract due to the increase in the amount of work leads to cost overruns or an extension of the construction schedule [12]. Numerous studies have been carried out that have looked at how changes to construction works affect projects, and the results show that many construction projects around the world face problems with contract changes due to delays in the construction schedule and cost increases [13]. In the construction sector, changes in contract terms can occur at any point in the project life cycle [14].…”

Section: Literature Reviewmentioning

confidence: 99%

Construction Contracts Quality Assessment from the Point of View of Contractor and Customer

2023

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The cost and determination of construction projects are key issues for both customer and contractor when entering into a construction contract. For customers, calculation and evaluation of the cost of construction projects is complicated by the problem of underpricing, which may lead to the failure of contractors submitting a bid for a project, and, in addition, overpricing may lead to an overestimation of the average market value of specific groups of works. Therefore, the aim of the study is to compare the quality assurance of different contractors’ contracts using a multi-functional decision-making process and to develop a set of quality assessment criteria. The Analytic Hierarchy Process (AHP) was used to determine the significance of the criteria and afterwards to evaluate the construction contracts. Two groups of experts were involved in this research: specialists for the customer group, and specialists for the contractor group that comprised professionals in their respective fields, with many years of experience in managing and implementing construction projects. Based on the results of this study, conclusions and recommendations are presented regarding possibilities of ensuring quality of construction contracts and minimizing disputes between customer and contractor.

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Section: Literature Reviewmentioning

confidence: 99%

Construction Contracts Quality Assessment from the Point of View of Contractor and Customer

2023

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Governmentality in construction claim management: Role of smart data initiatives

Awed,

Fard Fini

2024

Project Leadership and Society

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Price Recalculation Model of Construction Contracts

Vilkonis,

Antuchevičienė

2024

Science - Future of Lithuania

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In recent years, the world economy has experienced rapid economic change in the construction sector and record inflation. The rapidly rising prices of construction materials and machinery in the construction market are also pushing up the cost of construction services. The main problem is that construction projects have been drawn up and contracts between clients and contractors have been awarded at previous prices, and it is therefore necessary to look for opportunities to index the price of construction contracts. The aim of the study is to propose a mathematical model and a smartphone application for the price recalculation of construction projects. The success of a construction project depends on the correct decisions taken at the stage of preparation and implementation of the procurement documents for construction contracts, a complex process requiring a lot of legal and technological knowledge. The proposed mathematical model would help clients and contractors to carry out the calculation of the price according to the construction price index quickly and without the need for extensive specialist technical expertise. The mathematical model is adapted to smartphones with Android software.

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Effective Ways to Handle the Change Management for Cost in Various Types of Contracts

Cited by 3 publications

References 18 publications

Construction Contracts Quality Assessment from the Point of View of Contractor and Customer

Construction Contracts Quality Assessment from the Point of View of Contractor and Customer

Governmentality in construction claim management: Role of smart data initiatives

Price Recalculation Model of Construction Contracts

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