Construction is a business like any other. Delivering a good project is not enough to ensure commercial success.

Getting the business fundamentals right is the key to profit. This course, delivered over 2 days at Embassy House and your premises,  will cover three core areas.

1) Getting the contract right from the start

70 % of construction transactions are never fully documented or terms agreed.

This can have a dramatic effect on your business. Recovering money becomes extremely difficult and time consuming. Not having a contract produces uncertainty for you and your clients.

For example do you know;

• What happens if agreements are not documented or terms are not agreed?
• What terms will the law impose?
• Will you have an agreement at all and what difference does it make if you do not?
• Do you have a completion date?
• Is there a fixed price for the job, or can it be adjusted?
• Do you understand the dangers of working under letters of intent?

2) Managing Change

Even if you get your contract properly documented you need to manage change.

All construction projects involve change. How you manage change, not only responding to it but recording it and pursuing your entitlements, is the difference between profit and loss.

For example do you know;

• What are additional works ?
• When can you recover for delay and disruption ?
• How are these changes claimed and valued ?

3) Resolving Problems

The Construction industry is unique. It has its own mechanisms for resolving problems. These could be based on a right in the contract or given by statute.

Getting issues resolved quickly and recovering monies due can be the difference between survival and insolvency.

Do you know what your options are?

Are you familar with;

• Adjudication
• Arbitration
• Mediation
• Litigation

Do you know how you can recover unpaid invoices?

• Debt recovery