Commercial Awareness

Module Ref: A1

Duration: 2 days

Aims

To provide an introduction to the contractual, legal, financial and other matters that surround a construction contract.

Coverage

Day 1 – Commercial Awareness

  • The structure of the industry
  • Return on capital employed
  • Contractual matters
  • Dispute resolution options
  • Good practice

Day 2 – Commercial Management

  • Pre-contract competitive tendering principles
  • Post-contract internal accounting principles
  • Financial statements and reporting

Teaching Outcomes

At the end of the workshop, the delegates should appreciate:

  • Reasons for contractor involvement in the construction industry
  • The range of procurement options applied to construction
  • What constitutes a contract
  • A range of dispute resolution options
  • Simple pre and post contract risk registers
  • Assisting in the group preparation of a tender bid
  • Conversion of the cost to a price for tender purposes
  • Inclusion of subcontractors in tender bids
  • Instructions, variations and contemporary records
  • Applications for payment
  • Assembly of internal accounts and end out forecasts

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