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Management Contracting - Essay Example

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The purpose of this paper is to evaluate and present Management Contracting. In particular the paper will describe such types of contracts as Design-build Contract and NEC3 contract; and the additional option that entails asking a firm to mastermind the whole project under some form of management contract…
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Management Contracting
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Download file to see previous pages The paper tells that a design-build contract refers to an outstanding type of project delivery system used in construction as well as renovation projects. In this kind of contract, the client awards the project to a contractor. After the client enters into the contract with the contractor, the contractor is responsible for all design as well as construction work needed to complete the project. This will allow the client to deal with one source during the construction of the innovative and eye catching new property as opposed to coordinating various parties. If the client awards the design-build contract to a builder, the builder is responsible for hiring all engineers and architects needed to complete the work of designing the new property. The client has the right to reject or approve design options; however, he is no longer responsible for managing or coordinating the design team. When the owner approves the design, the same contractor directs the construction process of the new property and hires subcontractors if needed. Most clients’ sign build contracts after a negotiation as opposed to a bid process. NEC3 contract is a family of contracts that facilitate the implementation of sound management practices and principles and defining legal relationships. The contract is a positive as well as a progressive form of contract that allows every part to participate in and contribute to the successful delivery of facilities, buildings, as well as best value solutions. The client and the contractor collaborate and their collaborative working across the whole construction process boosts the likely project outcomes. The contract stimulates good management of the relationship between the client and contractor and the work included in the contract (NEC 2010). The contract offers clients and contractors project focused outcomes leading to the achievement of the client objectives for the projects in terms of ultimate performance, quality, time and cost aspects. The NEC3 contract is advantageous in that it designs a system for managing the construction project interfaces. It also gets all the parties to sign up to the contract and ...Download file to see next pagesRead More
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