ABSTRACT
This chapter provides an overview of the different types of building contracts and procurement routes and explains the management process from pre-contract to the post-contract defects liability period. It discusses the roles of key personnel, such as project manager. The chapter identifies the risks associated with building contracts along with strategies to either reduce risk or to transfer it to the contractor or other parties. It also focuses on the procurement options of public-private partnerships and partnering. The second major decision and financial commitment for a property developer in the development process is to place a contract to construct the development and undertake improvements to the land. This may include demolishing any existing structures, altering the form of the physical land and constructing new improvements. The selection of an appropriate procurement strategy has two main elements: analysis and choice. The method of payment for the works has a substantial impact on the developer’s cash-flow position.
