This 1 day course is for delegates with some knowledge and experience of using the NEC3 Engineering and Construction Contract (ECC), and who need to further the practical application of the management of compensation events. Case studies will be used throughout the day.
Aims & Objectives:
At the end of the course, participants should be able to: -
- Understand the purpose and essential principles of compensation events
- Prepare or respond to quotations including cost and time allowances
- Deal with issues arising when managing compensation events.
- Understand how compensation events are implemented into the contract
Session 1 What are compensation events?
Session 2 The compensation events in the ECC
Session 3 Preparing quotations
Session 4 Changes to the Prices
- Defined Cost
- The Schedules of Cost Components
Session 5 Delays to the Completion Date and Key Dates
- The Accepted Programme
- Time risk allowances and float
Session 6 Dealing with complex issues
Session 7 Implementing compensation events
Mode of Delivery:
The course will be conducted through lectures and case studies
Delegates who already have knowledge of NEC3 and who need to develop their understanding of the management of compensation events.
Some previous knowledge of NEC3.