How does the contract administration use the work flow?
How does the contract administration use the work flow?
Contract administration could be defined as a multi-stage process that goes on through the entire duration of the contract and ensures that the parties meet their contractual obligations in order to deliver the specific objectives provided in the contract.
The main purpose of contract administration is to make sure that the objectives of the contract(supply of goods, delivery of services or execution of works) are met in a timely fashion and value for money is achieved. In practice this means optimizing the efficiency of the processes, balancing costs and risks against returns and ideally aiming for a continuous
improvement in performance over the life of the contract.
Contract administration is responsible for making the contract successful by involving construction Industry participants, Bidding Requirements and Process, alternatives and Substitutions, standards and Regulatory Influences, Site Activities and
execution of the work description, Certificate of Payment, Changes in the Work, Dispute Resolution,Construction Insurance, Construction Surety Bonds, Guaranties and Warranties, Project Submittal, Contract Close-Out, Commissioning, Definitions and Resources.
Step by step
Solved in 2 steps with 1 images
