Why are monthly reports of Contract Performance important?

Q: Who is the Employers Agent?

A: Employer's agent is defined as the term which is used for the description of the agent who is…

Q: What are construction progress payments?

A: Construction progress payment. The construction progress payment is the payments that are done based…

Q: What are the three important Negotiation principles?

A: Generally, meaning of negotiation is to get what you want from others. Suppose in a business firm,…

Q: Name the four of the principal types of contractual relationships frequently encountered in…

A: Following are the four principal types of construction contracts: 1) Lump Sum Construction Contract:…

Q: Write technical explanation of the following; i. Price adjustment formula (Escalation). ii.…

A: i)  Price adjustment formula (Escalation) The upward trend of rates, known as price escalation, may…

Q: What are the Public works contracts called?

A: The public works contracts are the contracts for financial interest decided in writing between a…

Q: EVM has become especially popular as a mandatory contractual reporting methodology between…

A: In very big projects, EVM has become increasingly popular as a mandated contractual reporting…

Q: Describe the general conditions of the construction contract?

A: General requirements cover any part of the project, meaning that it may be complicated to break down…

Q: Is risk management necessary in construction or IT project management?

A: Yes, risk management is essential in both construction and IT project management. It's a crucial…

Q: You have recently completed construction on a project that was contracted under a CCDC2 contract.…

A:

Q: . What are the payment provisions under JCT?

A: JCT Standard Building Contract 2011 payment terms are relatively complex. The system relies on the…

Q: Describe the term International Construction Contract?

A: International Construction contract is defined as the contract prepared for the international…

Q: Who is in control of construction means and methods in a construction contract?

A: The construction means and methods refer to the resources such as building materials, labor,…

Management levels

Management levels are the hierarchy of all the designations of people present in a construction company or construction project. For the proper execution of the project, all the components of a management hierarchy must work properly as per their responsibility. The main objective of creating management levels is that the whole work should be distributed in parts to the respective departments of specialization in that part.