Project Management:Corporate Training
Instructional Design and Technology
Module 7: Managing Construction Contracts and Contractors
Introduction
Successful construction project depends on how well project participants manage project risks. Risks are managed through sound business and construction practices and through careful preparation and review of the project contract documents. A significant component of successful risk management begins with how well the project participants allocate risks at the contract formation stage. Ideally, the project documents will allocate responsibility for certain risks to the party best situated to bear them, thereby minimizing the likelihood and the cost of each risk. Following are six key risk allocation and management concepts that should be considered at the project contract formation stage.
Mobile learning activity
Learning Material
Read this PDF document
As you can see, for this module, you will be learning the content throught the Project Success Mentor (PSM) application.
You need to download the application on your cell phones and look for the module to read the material.
For news users, I am providing you with the following link so you can find more information about this application.
http://www.androidpit.fr/application/com.RobertPosener.psm
Quiz
To test your knowledge, go to this link and take the quiz
https://benchprep.com/pmp/pmp-prep-course/practice-questions/planning-for-project-resources-2
Summary
With careful Planning, you can create a contract helping to manage risk.
A well-written contract can be a boon to project performance, reducing costs and establishing
a strong working relationship among all the parties involved. Your attorney, independent Hartford agent and The Hartford can help you develop a program that responds to your specific insurance and risk management needs.
The checklist of provisions in this brochure highlights some of the issues that may be very important to consider before you sit down to negotiate. Be aware, though, that it pertains only to insurance and indemnification – there may be other issues to consider.