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7. Payment Processing: Managing Payment Schedules and Ensuring Timely Payments Payment Processing: Managing Payment Schedules and Ensuring Timely Payments Payment processing in construction projects is a critical function that involves managing payment schedules, verifying work completion, and ensur...
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Cost Control: Monitoring and Controlling Project Costs Cost Control: Monitoring and Controlling Project Costs Cost control in construction projects involves tracking and managing all project expenses to ensure that the project stays within the approved budget. Effective cost control helps in maximiz...
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Contract Administration: Managing Contract Lifecycle from Inception to Completion Contract Administration: Managing Contract Lifecycle from Inception to Completion Contract administration is the process of managing a construction contract from its inception (drafting and signing) to its completion (...
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3. Compliance Monitoring: Ensuring Adherence to Legal and Contractual Obligations Compliance Monitoring: Ensuring Adherence to Legal and Contractual Obligations Compliance monitoring in construction projects involves systematically ensuring that all activities and processes align with legal requirem...
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Risk Management: Identifying and Mitigating Contractual Risks Risk Management: Identifying and Mitigating Contractual Risks Risk management in construction contracts involves identifying potential risks that could impact the project and developing strategies to mitigate or eliminate these risks. Eff...