COMPARING AND EVALUATING THE CONTRACTUAL PROVISIONS OF TWO ANALOGOUS CONSTRUCTION CONTRACTS FOR THE MANAGEMENT OF COST.

The Royal Institution of Chartered Surveyors, on its website, defines cost management as being ‘concerned with delivering best value in building and infrastructure’. The contract used between the parties for the construction project has a significant influence on the management techniques and procedures used for post-contract cost control and management. Standard forms of construction contract dictate in detail, expressly and impliedly, the management techniques and procedures to be used for post-contract cost control and management. The aims of this study are to compare the cost management provisions of comparable JCT and NEC3 contracts and to evaluate the different contributions made by the two construction contracts to the management of cost of a construction project. This study will use a desk-based approach to analyse the respective provisions of the two contracts to be compared and evaluated. In so doing, the study will take account of case law that impacts on the legal matters associated with the management of cost on construction projects. The findings will offer a framework that may be used for the evaluation and comparison of the provisions for the management of cost amongst construction contracts and which may be used for practical evaluation and comparison of the same.