Effective Contract Management : A Few Salient Points

PMV America & Europe

H.L. Chawla, President, Tecknovate Solutions, New Delhi.

Introduction

The Construction Industry is almost unique where the "Project is sold before it is made." Instead it can be said that each individual contract in the construction industry contains a degree of distinctiveness even though the contracts may be on standardized forms. The reasons are not far to seek.

Effective Contract Management A Few Salient Points

Contract Management

Construction is the essence of 3 E's (Economical Extraction of Energy from 5 M"s (Men, Money, Materials, Machines, and Methods), now 6th M has also been added and that is: Management. There are engineers who have added 2 more: mafia and muscle power.

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