CONTRACT ADMINISTRATION
Contracts are the backbone of all construction projects. They define the terms and conditions of the project, and outline the responsibilities of all parties involved. However, contracts can also be complex, and it's essential to make sure that they are adequate, accurate, and in your best interests. At Gotham Building, We understand the intricacies of construction contracts and know what to look for to ensure that your interests are protected.
The blueprint for project success
Contracts define scope, timeline, budget, and control methods, preventing disputes, protecting your interests, and ensuring project success.
Construction contracts lay the groundwork for a successful project. They establish legal obligations, outline project scope, deliverables, timelines, and provide a framework for dispute resolution.
OWNER'S CONTROL
Contracts are designed with the owner's protection at the core. They put the control of the project in the hands of the owner and ensure that the owner's rights and interests are always safeguarded. It is the guiding tool that helps coordinate, control, and direct construction projects from inception to completion.
SCOPE CONTROL
Detailed contracts reduce ambiguity and disputes, ensuring a smoother project execution. They can dramatically cut back on time delays and cost overruns, ensuring that projects are completed on time and within budget.
COST CONTROL
Contracts outline the financial responsibilities of all parties involved. It includes the total cost of the project, the payment structure, and terms and conditions regarding cost overruns or changes to the project scope.
SCHEDULE CONTROL
A well-structured contract plays a crucial role in time management. It sets deadlines for different stages of the project, including the final completion date. This ensures the project progresses in a timely manner, preventing delays that could lead to cost overruns.
CHANGE CONTROL
The contract should define a clear procedure for managing changes and variations, including how they will be valued, who will approve them, and how they will affect the project timeline and budget.
RISK CONTROL
Contracts should have mechanisms in place for managing risk. This includes identifying potential risks, allocating them appropriately, and outlining procedures for managing risks should they arise. Proper risk management can prevent disputes, delay, and cost overrun.
Sound contracts are the foundation of successful construction projects. They define scope, timeline, budget, and control methods, preventing disputes, protecting your interests, and ensuring project success.
Take the first step towards ensuring your project's success with Gotham Building. Contact us today.