Sara Farag Abd Al-Wahab, Ahmed Mohammed Abdelalim, Manal Sayed Abd El-Hamid
<strong>Abstract:</strong> Construction contracts are complicated legal agreements with several terms that must be carefully considered. As a result, it is critical that all parties participating in construction projects understand the relevance of contractual clauses and how they might influence project results. This allows construction professionals to negotiate, draw, and execute contracts that are more successful in achieving their objectives. In this technical paper, we will examine the importance of contractual provisions in construction contracts, and develop the contract pricing process to according to contractual provisions within the integrated contract management system, which can be partially or fully self-executing and self-enforcing, eliminates the need for intermediaries and makes methods such as demand letters or legal action unnecessary. Digital transformation for high productivity Smart contracts can execute terms automatically when predefined conditions are met, and blockchain technology can ensure that automated tasks are transparent and uncorrupted. Throughout the paper, we will draw upon existing literature studies and empirical research to illustrate the practical implications of our findings. By providing a comprehensive analysis of the relationship between contractual provisions and construction contract pricing, this paper aims to contribute to a deeper understanding of this critical aspect of the construction industry <strong>Keywords:</strong> Contract Pricing, project management, Risk Allocation, Contracts Provisions, Digital transformation. <strong>Title:</strong> CONSTRUCTION CONTRACTS’ PRICING ACCORDING TO CONTRACTUAL PROVISIONS AND RISK ALLOCATION <strong>Author:</strong> Sara Farag Abd Al-Wahab, Ahmed Mohammed Abdelalim, Manal Sayed Abd El-Hamid <strong>International Journal of Civil and Structural Engineering Research </strong> <strong>ISSN 2348-7607 (Online)</strong> <strong>Vol. 11, Issue 1, April 2023 - September 2023</strong> <strong>Page No: 8-31</strong> <strong>Research Publish Journals</strong> <strong>Website: www.researchpublish.com</strong> <strong>Published Date: 28-April-2023</strong> <strong>DOI: https://doi.org/10.5281/zenodo.7876040</strong> <strong>Paper Download Link (Source)</strong> <strong>https://www.researchpublish.com/papers/construction-contracts-pricing-according-to-contractual-provisions-and-risk-allocation</strong>
Farzad Pour Rahimian, Jack Steven Goulding, Sepehr Abrishami, Saleh Seyedzadeh · 5 authors
Overview/Challenge: This chapter highlights the importance of accurate and timely digital information for AEC. In doing so, it reflects on the need to embrace tools and immersive technologies to not only support integration and interoperability but also improve efficiency and promote wider uptake. Design/Methodology/Approach: Literature on immersive technologies and UAVs presented a number of challenges and opportunities. From this, interpretive analytical techniques using critical and meta-synthesis approaches were used to evaluate and integrate these findings into a single context for discussion. Findings: This analysis highlighted four main themes for immersive technologies and two themes for UAVs. Findings reported on progress made, how well these supported AEC, the use of these to support an Industry 4.0 transition, and future trends and opportunities arising from these two technologies. Originality/Future Vision: Some incremental improvements have been made in automated surveying, information management, and visualisation; however, future work on real-time data capture with UAVs – along with AR, MR, and BIM – is needed. The use of blockchain and distributed ledgers presents significant opportunities for future exploitation.
This chapter shows what happens when the severe restrictions on the range of projects to be appraised are relaxed. It considers the case for large projects, public goods projects or projects with relevant environmental effects as well as for investments financed out of fixed expenditure allocations. Since all these departures from manuals involve a different view of the relation between project and plans, the chapter addresses the links between appraisals and economic planning or between shadow prices and decentralized prices. The range of projects whose appraisal is considered by the manuals of the 1970s is limited by a simplified version of the planning procedures. The departures from the Little and Mirrlees, UNIDO, Mishan, and Squire and Van der Tak manuals seem to correspond to the desire to avoid this neglect of relevant areas of public intervention. The large project, public goods, non-optimal financing and private investments appraisal issues show the objective complications of such departures from the current guidelines.