HK$3,000 – HK$3,500

Construction Project Management – Loss & Expense and Variation Management

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Location

RICS office

RICS Office, Room 3707-09

Hopewell Centre

183 Queen's Road East, Wan Chai, HKI

Hong Kong

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Event description
This course will demystify the procedures for dealing with loss and expenses on a construction project.

About this Event

Date: 28 & 29 October 2020

Time: 6:30pm to 9:30pm 

CPD: 6 hours

Language: English (supplementary with Cantonese)

Overview

Module 1 - Construction Project Management series: Loss & Expense (28 October)

It is important to understand what constitutes loss and expense, how to calculate the value, and what records should be kept throughout the project life cycle to assist in the claims process.

Loss and expense should be clearly defined in the construction contract and determines criteria for restitution paid to contractors in order to rebalance cash position prior to instances of breach of contract. In this class, you will learn when loss and expense claims should be paid and at what corresponding value

This course will enable the participants to deal with loss and expense procedure when managing construction projects.

Module 2 - Construction Project Management series: Variations Management (29 October)

A variation to a contract is one of the main reasons that a contract can fall into dispute. To avoid this potentially costly delay, issuing, valuing and then managing a variation to a contract properly is extremely important.

This session will take you the best practice contract procedures for the variation of a contract, including how to issue instruction, keeping records and how to value variations.

Learning outcomes

Module 1

  • Ascertain/determine Loss & Expense
  • Prepare / deal with a Contractor’s Loss & Expense Notice
  • Advice the various parties relating to this subject on their obligations
  • Keep records to assist in loss and expense ascertainment

Module 2

  • How to define a variation
  • What are provisional sums and their consequences
  • Apply your knowledge to valuation of variations
  • How to prepare and value variations
  • Managing the variation process through record keeping

 

Course Structure

Introduction to Loss & Expense

  • What are loss and expense?
  • How are loss and expense calculated?

Loss & Expense Procedures and Causes

  • Parties obligations relating to the subject
  • Content of Contractor’s Notices
  • Architect / Contract Administrator’s obligations regarding ascertainment
  • Typical heads of claim and formulae
  • Cause and effect schedules for demonstrating loss and expense

Head Office overheads

  • Methods and calculation
  • Good Record Keeping

 

Who should attend

This course will demystify the procedures for dealing with loss and expenses on a construction project, and is suitable for:

  • Commercial Managers
  • Quantity Surveyors
  • Project Managers
  • Employers Agents
  • Contract Administrators
  • Architects

  

Trainer

Mr KC Chang FRICS

FHKIS, FCIArb, FICES

Director - KCI Management Consultancy Limited

Mr Chang has been a chartered quantity surveyor since 1992 and has been involved in the profession for over 30 years. During this period, Mr Chang has held senior positions in leading construction companies and has setup his own business.

Mr Chang specialises in providing contractual advice to construction clients and has been involved in arbitration, mediation and litigations on construction disputes.

Before setting up his own business in 2005, he worked as a quantity surveying manager for a large contractor in Hong Kong, where he was extensively involved in heavy civil engineering projects. He is currently a  RICS APC Assessor.

 

Enquiry

For inquiries or further information, please contact Mr. Peter Au at +852 2116 9719 or email pau@rics.org

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Date and Time

Location

RICS office

RICS Office, Room 3707-09

Hopewell Centre

183 Queen's Road East, Wan Chai, HKI

Hong Kong

View Map

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