Contract administration is one of the most important responsibilities associated with construction projects, and it comprises a wide range of operations that take place both before and after the contract's execution and the issue of work orders, as well as a variety of other activities.
To ensure that both design and construction activities are performed within the client's budget, the firm performs cost planning and cost checking during the design and/or supervision phases, as well as establishing and implementing a construction period cost control system during the construction phase.
In order for an arbitration agreement to be enforceable, both parties must agree to it. However, despite the fact that this proposition appears to be straightforward on the surface, determining whether or not the parties have agreed to arbitrate a specific dispute is frequently a difficult task.
Aspects of technical auditing include the inspection of identified construction works, which includes the construction process and management process as well as the final product, as well as the examination of contract documents, as well as documents pertaining to payments requested on contracts, in order to verify an assessment of a project's status against predefined success criteria
Running a financial feasibility study is extremely beneficial when it comes to putting your idea into action. It involves setting financial goals for your company, a method that helps you understand how your company works. A financial feasibility study exposes your personal business idea to a wider audience.