Risk Assessment and Risk Management

Risk Assessment and Risk Management

November 9, 2015

Companies must become more risk aware. Companies need to assess a project’s potential risk and to be decisive in either avoiding or managing that risk. As the economy worsens, there is less work available and the competition for that work is increased. This combination of less available work and heightened competition reduces both a company’s […]

How to Avoid Contract Drafting Mistakes

How to Avoid Contract Drafting Mistakes

November 4, 2015

The contract documents establish the rules and framework for the design and construction of the project. Based on previous projects and conflicts, experienced construction practitioners have their own forms and, as importantly, opinions on what should typically be included in Owner-Contractor, Owner-Architect and Contractor-Subcontractor agreements. Even skilled practitioners, however, must alter or modify the contract […]

Contract Review — What is Critical?

Contract Review — What is Critical?

October 30, 2015

Critical components of a contract include: indemnification, scope of work, warranty, payment terms, pay if paid/pay when paid. schedule of values, liquidated damages, damages waiver(s), financial wherewithal of owner, schedule, construction change directives, and more. The following article lists each section and gives details.