Contract Strategies for Major Projects (Hardcover)

Edward W. Merrow

ISBN 10: 1119902096 / ISBN 13: 9781119902096

Editore: John Wiley & Sons Inc, New York, 2022

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Hardcover. Major Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting StageOrganizations that invest huge amounts of capital in major building/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.and organizations waste billions of dollars 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 this book. Drawing on a properietary 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 VenusAll the biggest risks in contracting belong to the ownerContracting games will normally be won by contractors, not ownersMost risk transfer from owners to contractors is an illusionContractors do good projects well and bad projects poorlyContractors may have shareholders, but they are not your shareholders!Mixing different contract types with different contractors on the same project is unwiseEconomize on the need for trust; trust only when being trustworthy has value Merrow also explains: Which contract incentives work and which dont and WHYWhich of over a dozen contracting strategies work best and which ones hardly ever work and WHY The strategic advice in this book is designed for owners and contractor project managers, team members and supply chain, executives, and 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. "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"-- Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

Codice articolo 9781119902096

Dati bibliografici

• Titolo: Contract Strategies for Major Projects (Hardcover)
• Editore: John Wiley & Sons Inc, New York
• Data di pubblicazione: 2022
• Lingua: Inglese
• ISBN 10: 1119902096
• ISBN 13: 9781119902096
• Rilegatura: Hardcover
• Condizione: new

Descrizione articolo

Riassunto

Major Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting Stage

Organizations that invest huge amounts of capital in major building/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...and organizations waste billions of dollars 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 this book. Drawing on a properietary 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:

1. Owners are from Mars; contractors are from Venus
2. All the biggest risks in contracting belong to the owner
3. Contracting “games” will normally be won by contractors, not owners
4. Most risk transfer from owners to contractors is an illusion
5. Contractors do good projects well and bad projects poorly
6. Contractors may have shareholders, but they are not your shareholders!
7. Mixing different contract types with different contractors on the same project is unwise
8. Economize 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 this book is designed for owners and contractor project managers, team members and supply chain, executives, and 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.

Informazioni sull?autore

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.