Date: Saturday, 25 April 2020
Time: 9:30am to 5:30pm
Format: Online learning*

CPD: Module One - 3 hours / Module Two - 3 hours
Language: English (supplementary with Cantonese)

*This online event will be conducted through Skype Business. You will be provided with the link and further instructions, 1 to 2 days before the event. Please visit https://products.office.com/zh-hk/skype-for-business/download-app to download Skype Business.

Overview

Module One - Loss & Expense

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 Two - Variations Management

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

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
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

Introduction to Variations

Definition of a Variation
Formats of Instructing Variations

Provisional Sums

Types of Provisional Sums – Defined and Undefined

Valuing Variations

Methods and examples
Pricing variations
Variation management

Record Keeping
Change control procedures

Who should attend?

This course will demystify the procedures for dealing with loss & expense and variation on a construction project, and is suitabe 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

RICS Online Series - Construction Project Management Series [APR 2020]

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