John Bleasby's latest Legal Notes column looks at managing the risk of change through attention to contracts.
It’s true today in construction.That was confirmed in thereport from global risk mitigation and dispute resolution consultancy HKA. They examined multi-year projects around the world over a five-year period to July 2022, including the analysis of over 520 projects in North America with an average CAPEX value of $669 million.
told the Daily Commercial News. “Changes during a construction project are quite common and can take a variety of forms, including changes in scope, extras, substitutions, changes in physical conditions, and errors or omissions in design, including drawings and specifications.” Clarity is vital, Lynde says, particularly when it deals with the specificity and detail of project scope.
A properly constructed change order provision will detail key terms, such as the pricing structure, scope of work and adjustments to scheduling. It’s also important that change orders are executed prior to any changes being performed. “Too often parties fail to read and re-read the contract throughout the various stages of the project,” he says. “Similarly, too often the parties fail to follow the contract and understand their contractual obligations. Obviously, compliance with contractual obligations will be difficult if an entity is unaware of what those obligations actually are as set out in the contract.”
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