Contract Management For Construction Project In Philadelphia
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Contract management in construction is the process of overseeing and administrating contracts between various parties involved in a construction project. It encompasses activities such as the negotiation of contract terms, monitoring compliance with agreed-upon conditions, and facilitating dispute resolutions.
Lesson Summary. A contract is a legal agreement between two or more parties in which they agree to each other's rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
To understand that, you need to know about the 5 essential elements of a valid contract: offer, acceptance, consideration, mutual intent, capacity and legality. Understanding these 5 fundamental elements of a contract can help you protect your interests and avoid potential legal disputes.
In theory, the role of Contract Administrator can be undertaken by a range of individuals. This could include architects, engineers, building surveyors, quantity surveyors or any agent of the employer (including project managers).
Ultimately, the administration of a contract is the responsibility of the contracting officer who is the only person who may modify the contract or take action to enter into or change a contractual commitment on behalf of the U.S. Government.
The project manager is responsible for the overall management and coordination of the project, including overseeing contract administration activities. The contract administrator, on the other hand, focuses specifically on the contractual aspects of the project.
At the core of their job, Contract Administrators prepare and review contracts linked to construction and civil engineering projects. They ensure that every contract meets the best possible strategic outcome and financial result, while keeping the project timelines on track.
A contract administrator manages contracts made between building contractors, employers, and clients. Their responsibility is to administer construction contracts, whereby they may act as project managers, engineers, consultants and client representatives.
Sam is an excellent starting point for finding federal government contracts. This is a database where contracting officers post contract opportunities over $25,000. Contractors can find currently available contracts as well as upcoming opportunities.
