Lecture 6 - CVEN 349: Civil Engineering Project Management...

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1 CVEN 349: Civil Engineering Project Management LECTURE # 6 Fall 2009 Dr. Ivan Damnjanovic Contracts vs. Project Delivery Methods ± Project delivery method is the comprehensive process of assigning the contractual responsibility for designing and constructing a project. ± How to organize the relationship between How to organize the relationship between Owners, Contractors and Designers in project development. ± Contact is an agreement between two or more people in which one person agrees to perform a specific task or provide goods or a service in exchange for money or something in return. ± How the work will be paid. Contracts What is a contract? “A contact is an agreement between two or more people in which one person agrees to perform a specific task or provide goods or a service in exchange for something in return.” It is a legally enforceable promise!
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2 Purchasing Construction ± No store to purchase ± Able to influence the end product ± Inspection available only after construction ± Ideally purchased from a single source ± Includes designers as well as contractors Major Types of Construction Contracts Three major types of contracts: ± Stipulated-sum contracts, also know as: ± Single-fixed price, or ± Lump-sum ± Unit price contracts ± Negotiated contracts Stipulated Stipulated-sum contracts sum contracts ± Contractor agrees to provide a specific work for a specific fixed amount ± The price is guaranteed Ot h l t ± Owner pays monthly progress payments ± Advantage: Fixed price of work before work begins ± Disadvantage: Poor flexibility and potential for litigation
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3 Unit
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Lecture 6 - CVEN 349: Civil Engineering Project Management...

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