Construction Management Guide

A cost-plus contract, more accurately termed a Cost Reimbursement Contract, is a contract framed in such a way that when the contractor finishes the agreed-upon work, they receive compensation equal to their expenses plus a profit. Cost reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred expenses. (Read more..)

Design and build procurement – the way forward?
 
by Paul Taylor on Saturday, 08 March 2008  Paul Taylor, partner, HBJ Gateley Wareing UK LLP, considers procurement of construction projects on a design and build basis.
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Nick Carnell, lead partner at Kennedys, discusses how successful ‘design and build’ is down to understanding what the clients wants.

Paul Taylor’s article published on 8 March on design and build contracts reminded me of some of my own experiences of projects procured in this way. Paul quite rightly pointed out that for design and build to work there needs to be changes in both the mindset and philosophy from projects procured in the traditional manner. (Read more..)