Notification, submission, assessment & implementation of compensation events

Objectives

At the end of the day, participants should :

  • Appreciate the philosophy behind and inputs into compensation events.
  • Understand what a compensation event is.
  • Know how compensation events are assessed in terms of time & cost.
  • Have a good appreciation of the two Schedule of Cost Components.

Programme

  • Session 1 Quick Review of NEC Engineering and Construction Contract.
  • Session 2 Overview of Change Management. How early warnings & the Accepted Programme feed into the compensation event procedure.
  • Session 3 Definitions of Compensation Events: core clauses CEs; main and secondary options CEs. Exercise.
  • Session 4 Time scales: notification, submission, re-submission, implementation. Exercise.
  • Session 5 Assessment:  Basis for assessment. Cost and Time Risk Allowances. Forecasts and Assumptions. Reduced Prices. Reasons for reducing the assessment. Excluded Costs. Exercise.
  • Session 6 The Schedule of Cost Components. When to use the ‘full’ and Short Schedule of Cost Components. Understanding the ‘full’ schedule. Exercise. Understanding the Short Schedule. Exercise.
  • Session 7 A Methodology for the Rapid Assessment of Compensation Events.

This course is aimed at those involved in the administration and management of change under the NEC Engineering & Construction Contract. It is an advanced course for those who already have some experience and a working knowledge of the contract, yet wish to develop their capabilities further. 

The programme is interspersed with exercises to illustrate the points made and is for people with some experience of using the NEC3 Engineering & Construction Contract.

As with all courses, this can be on NEC3 only, NEC3 with changes to 4th edition highlighted or purely on NEC4.

What previous participants said about this course

"Short, concise course which is very useful and will change the contract management of a current project".

"This is one of the best courses I have been on. Jon is so knowledgeable and a good speaker."

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Why Jon?

Jon offers tailored NEC training courses that can help deliver better projects and programmes.

Contact

For a free discussion on how NEC training or consultancy can help deliver better projects and programmes for you contact Jon Broome.

Email: jon@leadingedgeprojects.co.uk
Tel: +44(0)7970 428 929

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