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Contract Strategies for Major Projects
Mastering the Most Difficult Element of Project Management
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Format: Hardback
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Contract Strategies for Major Projects
$9499
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
This book is essential for owners, contractor project managers, team members, supply chain professionals, executives, and business leaders engaged in major engineering and construction projects. It also serves as an invaluable resource for engineers, industrial firm leaders, bankers, and academics studying the realities of major project management.
"Governments and companies spend billions on major industrial projects--and they too frequently run years behind schedule, and billions behind budget. This book explain why and how to prevent it"--
Book Hero Magic formatted this description to make it easier to read. While it's new and
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Description
Major Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting Stage
Organisations that invest huge amounts of capital in major building and industrial projects almost never do the engineering and building themselves. They hire engineering and construction contractors to do it for them. Unfortunately, selecting contractors and negotiating the terms of a major project is one of the most difficult aspects of project management. Organisations waste billions of pounds and "bake in" months or years of delay by doing it wrong. Contracting is also the area of project management that is most prone to firmly held opinions unencumbered by any facts. We intend to remedy that situation with Contract Strategies for Major Projects by Ed Merrow.
Drawing on a proprietary detailed database of over 1100 major projects, the world's leading industrial engineering project consultant, Ed Merrow explains:
Key Principles of Contracting for Major Projects:
- Owners are from Mars; contractors are from Venus
- All the biggest risks in contracting belong to the owner
- Contracting “games” will normally be won by contractors, not owners
- Most risk transfer from owners to contractors is an illusion
- Contractors do good projects well and bad projects poorly
- Contractors may have shareholders, but they are not your shareholders!
- Mixing different contract types with different contractors on the same project is unwise
- Economise on the need for trust; trust only when being trustworthy has value
Merrow also explains:
- Which contract incentives work and which don’t, and WHY
- Which of over a dozen contracting strategies work best and which ones hardly ever work, and WHY
The strategic advice in Contract Strategies for Major Projects is designed for owners and contractor project managers, team members, and supply chain executives, as well as other business leaders involved in major projects. It's also an indispensable resource for engineers, leaders of industrial firms, bankers, and academics studying the messy realities of the construction and engineering industries.
Book Details
INFORMATION
ISBN: 9781119902096
Publisher: John Wiley & Sons Inc
Format: Hardback
Date Published: 15 December 2022
Country: United States
Imprint: John Wiley & Sons Inc
Audience: General / adult
DIMENSIONS
Spine width: 31.0mm
Width: 163.0mm
Height: 234.0mm
Weight: 522g
Pages: 304
About the Author
EDWARD W. MERROW is the Founder and CEO of Independent Project Analysis, Inc., the world’s leading evaluator of billion-dollar mega-projects. IPA benchmarks project costs, schedules, and safety, start-up and operational performance and helps owners gauge their competitiveness and project management practices.
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