Commercial Management in Construction

Author: Ian Walker
Publisher: Wiley-Blackwell
ISBN: 9780632058273
Category : Technology & Engineering
Languages : en
Pages : 192

Book Description
This handbook covers all the practices and procedures the quantity surveyor working in a contractor's office needs to know - from budgets and forecasts to cost-value comparisons and partnering. By giving a thorough account of the commercial aspects of the work of the contractor's QS, the book offers a useful insight into their day-to-day work, with plenty of sample documents, worked examples and extracts from the standard contracts. This is a practical manual but it also helps develop an understanding of the theory underpinning current practice. As the QS role becomes more complex, commercial managers wanting to maximise profitability will find the sound advice given here invaluable as it: ? demonstrates tried-and-tested best practice through practical examples ? provides a good grounding in financial management and cost analysis ? describes the need for benchmarking, the benefits of setting targets and the use of key performance indicators (KPI's) as a means of increasing project and company performance ? highlights the benefits of teamworking.

Commercial Management of Projects

Author: David Lowe
Publisher: John Wiley & Sons
ISBN: 1405171898
Category : Technology & Engineering
Languages : en
Pages : 480

Book Description
This is the first book to establish a theoretical framework forcommercial management. It argues that managing the contractual andcommercial issues of projects – from project inception tocompletion – is vital in linking operations at the projectlevel and the multiple projects (portfolios/ programmes) level tothe corporate core of a company. The book focuses on commercial management within the context ofproject oriented organisations, for example: aerospace,construction, IT, pharmaceutical and telecommunications – inthe private and public sectors. By bringing together contributionsfrom leading researchers and practitioners in commercialmanagement, it presents the state-of-the-art in commercialmanagement covering both current research and best practice. Commercial Management of Projects: defining thediscipline covers the external milieu (competition,culture, procurement systems); the corporate milieu(corporate governance, strategy, marketing, trust, outsourcing);the projects milieu (management of uncertainty, conflictmanagement and dispute resolution, performance measurement, valuemanagement); and the project milieu (project governance,contract management, bidding, purchasing, logistics and supply,cost value reconciliation). Collectively the chapters constitute a step towards the creationof a body of knowledge and a research agenda for commercialmanagement.

Commercial Management

Author: David Lowe
Publisher: John Wiley & Sons
ISBN: 1118486129
Category : Technology & Engineering
Languages : en
Pages : 533

Book Description
Commercial Management: theory and practice defines the role of commercial management within project-oriented organisations, providing a framework for and helping to develop a critical understanding of the factors that influence commercial management practice. It also identifies generic aspects of this practice and provides a theoretical foundation to these activities, by reference to existing and emergent theories and concepts, as well as to relevant management best practice. The book is structured into four parts: Part 1 Introduction – Commercial Management in Project Environments explores the nature of commercial practice within project-oriented organisations at the buyer-seller interface. It presents a Commercial Management framework, which illustrates the multiple interactions and connections between the purchaser‘s procurement cycle and a supplier‘s bidding and implementation cycles. Additionally, it outlines the principle activities undertaken by the commercial function, identifies the skills and abilities that support these activities and reviews the theories and concepts that underpin commercial practice. Finally, it identifies areas of commonality of practice with other functions found within project-oriented organisations, plus sources of potential conflict and misunderstanding. Part 2 – Elements of Commercial Theory and Practice covers commercial leadership; exploring strategy; risk and uncertainty management; financial decision-making; and key legal issues. Part 3 – Approaches to Commercial Practice addresses best practice management; and commercial and contracting strategies and tactics. Finally, Part 4 – Case Studies offers two extended case studies: Football Stadia (the Millennium Stadium, Cardiff; the Emirates Stadium, Islington; and Wembley Stadium, London); and Heathrow Terminal 5. The book provides a one-stop-shop to the many topics that underpin commercial management practice from both a demand (buy-side) and a supply (sell-side) perspective. It will help develop an understanding of the issues influencing commercial management: leadership, strategy, risk, financial, legal, best practice management and commercial and contracting strategy and tactics. This book’s companion website is at www.wiley.com/go/lowecommercialmanagement and offers invaluable resources for both students and lecturers: • PowerPoint slides for lecturers on each chapter • Sample exam questions for students to practice • Weblinks to key journals and relevant professional bodies

Managing Construction Contracts

Author: Robert D. Gilbreath
Publisher: John Wiley & Sons
ISBN: 9780471569329
Category : Technology & Engineering
Languages : en
Pages : 320

Book Description
This Second Edition focuses on the commercial issues of contracting, covering the lifespan of a contract in four stages: inception of need, bid and award, administration, termination. Written from the owners' perspective, it is appropriate for construction managers and contract administrators. New material includes the effects of the computer on construction management practices, the risks and rewards of cross-border contracts and the role of the lawyer.

Cost Management of Construction Projects

Author: Donald Towey
Publisher: John Wiley & Sons
ISBN: 1118473809
Category : Technology & Engineering
Languages : en
Pages : 342

Book Description
The cost manager/quantity surveyor plays a pivotal role in the financial and contract management of construction projects, although the exact nature of the service they provide depends on the project employer’s terms of engagement. This can mean acting as consultant in a range of roles including cost and advisory services for budget setting to initiate a project, cost management through the design and construction phases, contract administration and acting as the client side project manager to oversee the entire building process. Cost Management of Construction Projects focusses on the cost manager/quantity surveyor engaged by the project client, and discusses key elements that help drive project success including measurement (based on the New Rules of Measurement published by RICS), procurement, cost planning, contract administration and project cost management. With examples, it provides a thorough guide to the role in the workplace and in the field, directly addressing the day to day situations faced by the cost manager/quantity surveyor. Donald Towey MRICS has extensive experience of the construction industry. His experience began as an estimator with a glass/glazing contractor in Manchester. Following a number of positions with UK contractors he relocated to Australia and has worked with a number of developers and main contractors, as well as doing freelance work. He is currently working in contracts management in Sydney.

Financial Management in Construction Contracting

Author: Andrew Ross
Publisher: John Wiley & Sons
ISBN: 1405125063
Category : Technology & Engineering
Languages : en
Pages : 458

Book Description
This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites

The Construction of Commercial Contracts

Author: JW Carter
Publisher: Bloomsbury Publishing
ISBN: 1782250573
Category : Law
Languages : en
Pages : 496

Book Description
This book adopts a principled approach to the law applied in the construction of commercial contracts. This approach is presented as part of a coherent theory of the law of contract construction which makes a unique contribution to scholarship and understanding of the most important aspect of the practice of commercial lawyers. The law is explained by reference to three stages in construction. It distinguishes the preliminary stage in which context is established, from the 'meaning' and 'application' stages of contract construction. The approach provides insights both into the practical problems that lawyers face, in particular in relation to admissibility of extrinsic evidence, and the theoretical underpinnings of the subject. The book also explains the relationship between intention and construction, and discusses general and specific rules that determine the results of construction disputes. Each chapter is introduced by statements of its objectives and the book includes simple definitions of key concepts, as well as summaries of the complex principles which comprise the law of construction. In illustrating construction principles and their application, the exposition of the law draws on the author's knowledge of Australian contract law and the influence and role of the UNIDROIT principles, CISG and the American Restatement (Second) Contracts.

Estimating Building Costs for the Residential and Light Commercial Construction Professional

Author: Wayne J. Del Pico
Publisher: John Wiley & Sons
ISBN: 1118243544
Category : Technology & Engineering
Languages : en
Pages : 616

Book Description
How to succeed in the construction business step-by-step guidelines for estimating To be competitive, contractors and homebuilders need to know how to generate complete, accurate estimates for labor and material costs. This book guides readers through the entire estimating process, explaining in detail how to put together a reliable estimate that can be used not only for budgeting, but also for developing a schedule, managing a project, dealing with contingencies, and ultimately making a profit. Completely revised and updated to reflect the new CSI MasterFormat 2010TM system, the Second Edition of this practical guide describes estimating techniques for each building system and how to apply them according to the latest industry standards. Cost considerations and quantity takeoff and pricing are included for virtually every type of work found in residential and light commercial projects, from demolition, concrete, and masonry to windows and doors, siding, roofing, mechanical and electrical systems, finish work, and site construction. Complete with many new graphics and references to professional construction cost databases, the new edition provides experienced contractors and novices alike with essential information on: How to correctly interpret plans and specifications, reflecting updates to contract documents since the first edition Computer estimating techniques and new estimating software for performing quantity takeoff The best methods for conceptual estimating as well as the extremely useful topic of parametric estimating How to allocate the right amounts for profit and contingencies, and other hard-to-find professional guidance How a unit price estimate is built along with labor issues and budgeting for subcontractor work

Introduction to Building Procurement

Author: Brian Greenhalgh
Publisher: Routledge
ISBN: 1134016840
Category : Architecture
Languages : en
Pages : 273

Book Description
The procurement stage of the building process is critical to the success of any building project, and as such must be understood by everybody entering the industry. This book familiarises the reader with the principles and methods of the procurement of buildings, starting at the most basic level.

Principles and Practices of Commercial Construction

Author: Cameron K. Andres
Publisher: Prentice Hall
ISBN: 9780131599239
Category : Building
Languages : en
Pages : 0

Book Description
"The revision of this classic text provides a well-illustrated and logical engineering approach to the principles and practices of commercial construction. Principles and Practices presents an overview of the methods, equipment, and materials used while covering each phase of the construction process is a sequential, chapter-by-chapter format."--Publisher.