NEC Workshop Assessing Compensation Events

Date: 6 March 2012, 09:00 - 12:30

Venue Details

Haydock Park Racecourse

Haydock Park Racecourse

Haydock

Description

 

This is arguably one of the most contentious provisions contained in the NEC 3 contract. The reason being is that when a compensation event occurs, the effect on both time and cost has to be assessed. Moreover, the contract is very prescriptive in the procedures and timescales that have to be followed in assessing a compensation event. The procedures are also drafted to encourage the parties to assess a compensation event as a forecast. This causes many practical problems for Project Managers and Contractor’s alike. The course will discuss those common problems that are experienced when assessing compensation events, and will identify practical solutions to ensure that your NEC 3 contract is a success. The course will offer practical guidance on:

• Allocating risk pre-contract • Notifying compensation events • Multiple compensation events

• Amending the contract to deal with risk • Assessing the impact on time • Ownership of float

• Content of early warning notices • Assessing the impact on cost • Revising the programme

• How to conduct a risk reduction meeting

For further information see

   knowles_nw_wr_spring_2012.pdf