Contract Management in Project Management : an emerging issues in construction projects

Contract Management in Project Management : an emerging issues in construction projects

Contractual Risk Management in Construction Projects

Veerasak Likhitruangsilp, Ph.D.

Chulalongkorn University, Bangkok, Thailand

Organized by Master in Project Management in Construction (MPM) - AIT Vietnam

On 27 January 2015, Master program in Project Management in Construction program successful organized the seminar " Contractual Risk Management in constructio n projects" with over 100 participants from many construction companies, unversities, and other organizations.

Given opening speech for seminar, Dr. Fredric W. Swierczek, AITVN Director, welcomed all of participants to our academic activities that we often offer it to community, especcialy in Vietnam. Next presentation of Dr. Hadikusumo, MPM Coordinator, introduces master program in Project Management in Construction that given a solution to enhance high quality human resourses for construction industry in Vietnam.

Last presentation, Dr. Veerasak talked about Risk in Contract Management that have a big concern from many people. Risk management has become an essential tool for modern construction project management, especially in large construction projects such as infrastructure projects. Construction contracts are principal documents in which the legal rights, duties, and liabilities of all contracting parties are defined. Thus, construction contract administration must inevitably be encountered with various risks, leading to contractual risks. He mainly discussed about types of risk in construction contracts and how to deal with such risks and focused on two principal aspects that influence contractual risk allocation, namely, payment and procurement methods.

Contract Management in Project Management : an emerging issues in construction projects