Contract administration is the process of creating a contract between employer and contractor. It is essential to ensure the successful delivery of any project.
How can Prendos assist with contract administration?
Prendos can assist with the day-to-day administration of a contract. Over the years we have developed and refined procedures that assist us as contract administrators. Essentially the role involves the planning, negotiation, execution and performance of the contract.
Our driver is to ensure successful project outcomes.
We understand the importance of the role. Getting a project from start to finish without disputes involves constant monitoring and control of the project risks to ensure the project is completed with quality control within the stipulated budget and timeframes.
Attention to detail is key
Successful contract administration requires attention to detail and early identification and management of project risks. Our contract administrators understand their duties under the contract being administered. We have developed checklists and tools which ensure best practice is followed.
Every contract will have key areas which require following by the parties to the contract. Early identification of areas of the contract terms which might be hard to follow during the works will reduce disputes during the works.
Simply things like; inconsistencies between any of the contract documents, have all areas of the contract been checked by the technical advisors, do they meet the Principals obligations, are there adequate time periods provided for pre-start phase of a project, have all correct insurances and levels of cover been requested?
What remedies are in place for delays or in the case of worst case scenario termination of the contract?
Managing employers risks?
Each contract will manage risk differently depending on the client’s requirements. We know that a one size fits all approach does not work. This is where our experience of managing risk on construction projects kicks in.
Our awareness of where the risks lie and the parties obligation under the contract is key.
Appetite for risk ebbs and flows between the parties depending on market conditions. The contract will provide for this risk allocation.
Our role as contract administrators is understand the responsibilities of the parties to the contract and ensure we administer the agreed contract terms fairly.
