Payment Videos
How do I recover my Subcontractor’s overheads?
NEC allows recovery of Defined Cost plus Fee with each payment option having a slightly different approach to the calculations. So how do you make sure that those definitions tie up with the supply chains, so that no one is either under or over recovering ?
Why do options C, D and E let the Project Manager disallow costs?
Disallowed Cost is a subject that makes almost everyone, no matter which side of the contract they sit on, slightly hot under the collar. The fab four discuss why ‘Disallowed Cost’ is needed as a provision, what happens when it is wrongly applied and practical steps to avoid people getting hot under the collar!
Does the payment mechanism under NEC work efficiently?
Most contracts assume the contractor will lead the payment application cycle with the certifier reviewing the application. Why is the NEC different in having the process led by the Project Manager ? And what actually happens in practice ? Jon, Ian, Ewen and Rob discuss.
NEC: The Schedule of Cost Components is really complicated, why not just use rates?
One of the innovative approaches of the original New Engineering Contract was to provide more definition around what amounts to recoverable “cost” under the contract in the form of the Schedule of Cost Components. Is it really worth the trouble though? Jon, Ian, Rob and Ewen discuss.
Is there a Final Account mechanism under the NEC3 ?
When you get to the end of the contract, a key question is to tally up how much it has cost against how much it was planned to cost and reach a financial settlement. How does the NEC achieve this? Is this one area where it is process light compared to other contracts? Why might that be? Jon, Ian, Rob and Ewen discuss.
NEC: Why aren’t options B and D used much?
There is a clear preference in the UK market for Options A and C : is there a contractual, legally, technical, or practical reason for that? Jon, Ian, Rob and Ewen discuss this and whether other alternatives are being missed?
Overview of the NEC – Do the NEC and the Construction Act have common values?
In this video, the panel discuss whether there was joined-up thinking in the way that the construction act developed and the implementation of the NEC.
Part 12 : Open book accounting
This video explains the importance of good open book management under the cost based options
Part 09 : Stimulus to Good project Management
This video gives an overview of the Stimulus to Good Management objective and why it matters.
APM Guide to Contracts and Procurement 07: Manage and Deliver the Contract by John Lake
John Lake both led the development of this chapter & presents this session. In it, you will learn about : (1) your role as a PM in the delivery of contracted packages; (2) getting up to speed when you start; (3) the delivery process; (4) the most common pitfalls (gotchas!); and (5) how to use the C&P Guide during delivery.