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Procurement Risk Management in Construction Projects: Strategies and Tools

Building Radar

Procurement risk management is a critical aspect of construction project management, ensuring that projects are completed on time, within budget, and to the required quality standards. Effective risk management strategies can help mitigate potential issues that may arise during the procurement process.

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Mastering VOB German Construction Contract Procedures

Building Radar

As the standard set of regulations governing construction contracts in Germany, mastering VOB procedures can significantly impact project success. The VOB, comprising three parts, establishes the legal framework for construction contracts in Germany. Scope of Work Clearly defining the scope of work is crucial for project success.

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Construction Risk Management: How to Reduce Top Construction Risks

Autodesk Construction Cloud

How to Manage Risk in Your Construction Project. According to The Construction Industry Institute , there are about 107 construction risks you should consider when managing a project. Regardless, a solid risk management strategy is critical to the security of your company and project.

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#136:  Fixed Price vs. “Cost Plus” Contracts: Some Considerations

NH Construction Law

When contracting parties agree to a fixed price or lump sum amount for a defined scope of work, the contractor is generally obligated to build that scope of work for that price regardless of what it costs him to do so or what unmentioned obstacles he may face. A measure of trust is accordingly essential in fixed price contracts.

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Effective Supplier Relationship Management in Construction

Building Radar

In the construction industry, supplier relationship management (SRM) is vital for the successful delivery of projects. The ability to effectively manage suppliers can directly impact a construction project’s timeline, budget, and overall quality. Key Components of Effective Supplier Relationship Management 1.

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Construction Liability Issues: Common Risks and How to Mitigate Them

Building Radar

Construction projects, by their very nature, involve a significant degree of risk. Understanding these risks and knowing how to mitigate them is crucial for anyone involved in construction, whether you’re a contractor, developer, or project manager. Common Construction Liability Issues 1. Documentation is also key.

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How Blockchain is Revolutionizing Construction Supply Chain Management

Building Radar

With its decentralized and secure nature, blockchain offers significant improvements in supply chain management, enhancing transparency, efficiency, and trust among stakeholders. For more in-depth understanding, refer to this article on blockchain and supply chain management.