Construction Contract Management Guidelines and Administration

Contract plays a vital role in every project. It is becoming an integral part of a project management and business in general. Companies are facing increasing pressure both in the public and private sectors to save cost and improve operational performance. The contractual issues arising from non-compliance with the rules and regulations can be attributed to general lack of knowledge with regards to proper contract administration in managing the project. Proper guidance is required to ensure adherence to the laws, as well as avoiding contract dispute leading to arbitration. The guidance would enable project contract managers/commercial managers to better understand the requirements of project management and enable them to manage the contract more effectively and efficiently. This will include elements of contract administration best practices.