In today’s unpredictable construction market, managing costs effectively is more crucial than ever. The recent financial uncertainty caused by international conflict, Covid and a change in government has affected pricing of products, labour and fuel.
Focusing on this issue, Steven James, Partner in our Construction and Engineering team, joined Constrution Management’s recent webinar to discuss how those involved in the construction supply chain can manage costs effectively.
He highlighted the mechanisms available in construction contracts to manage cost volatility, focusing on:
- Using contract mechanisms to handle fluctuating costs: what can they do and what can they not do?
- Which contract forms are most effective in managing cost volatility
- Pre and post-contract strategies: steps to take before finalising a contract, and strategies to implement once the contract is signed.
You can watch Construction Management’s full webinar below.
If you would like to discuss anything raised in this webinar, or about construction more generally, please contact Steven James or visit our Construction team page.