NEC3 - Compensation Events

Overview:

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 

 

Course Outline:

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

Intended For:

 

Delegates who already have knowledge of NEC3 and who need to develop their understanding of the management of compensation events.

Pre-Course Requirements:

Some previous knowledge of NEC3.

All our courses can be offered as in-house training