Time certainty - Revision history

Designing Buildings at 08:09, 18 February 2021

2021-02-18T08:09:42Z

← Older revision		Revision as of 08:09, 18 February 2021
Line 75:		Line 75:
	* Variations in construction contracts		* Variations in construction contracts

−	[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Editor: Reverted edits by 31.48.193.73 (talk) to last revision by Designing Buildings

2020-05-01T13:50:04Z

Reverted edits by 31.48.193.73 (talk) to last revision by Designing Buildings

← Older revision		Revision as of 13:50, 1 May 2020
Line 9:		Line 9:
	Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the required time. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary requirements.		Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the required time. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary requirements.

−	Construction clients often hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client, ~~[https://payrollheaven.com/define/~~contractor~~/ contractor]~~, occupants, customers and so on. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of reputation and competitiveness.	+	Construction clients often hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client, contractor, occupants, customers and so on. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of reputation and competitiveness.

	Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project include:		Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project include:

31.48.193.73 at 12:37, 1 May 2020

2020-05-01T12:37:37Z

← Older revision		Revision as of 12:37, 1 May 2020
Line 9:		Line 9:
	Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the required time. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary requirements.		Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the required time. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary requirements.

−	Construction clients often hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client, contractor, occupants, customers and so on. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of reputation and competitiveness.	+	Construction clients often hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client, [https://payrollheaven.com/define/contractor/ contractor], occupants, customers and so on. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of reputation and competitiveness.

	Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project include:		Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project include:

Designing Buildings at 10:04, 9 September 2019

2019-09-09T10:04:47Z

← Older revision		Revision as of 10:04, 9 September 2019
Line 2:		Line 2:
	\| [[File:Time.jpg\|link=File:Time.jpg]]		\| [[File:Time.jpg\|link=File:Time.jpg]]
	\|}		\|}
		+
		+	Construction projects are often seen to be a balance between three related performance indicators; time, cost and quality. Generally, an increace in quality will result in an increase in cost and time, a reduction in time will result in an increase in cost and so on.

	For clients and contractors in the construction industry, time certainty is one of the most important performance criteria.		For clients and contractors in the construction industry, time certainty is one of the most important performance criteria.
Line 42:		Line 44:

	A possible indicator of a contractor’s time certainty is that delays on previous similar projects are likely to reoccur on future projects. A good reputation is therefore critical for time certainty performance.		A possible indicator of a contractor’s time certainty is that delays on previous similar projects are likely to reoccur on future projects. A good reputation is therefore critical for time certainty performance.
		+
		+	Generally time certainty improves as a project progresses, as there are fewer remaining risks that could affect project completion.

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Designing Buildings at 10:00, 9 September 2019

2019-09-09T10:00:35Z

← Older revision		Revision as of 10:00, 9 September 2019
Line 5:		Line 5:
	For clients and contractors in the construction industry, time certainty is one of the most important performance criteria.		For clients and contractors in the construction industry, time certainty is one of the most important performance criteria.

−	Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the time ~~agreed between the client and the contractor~~. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary ~~framework agreed at the outset between the client and the contractor~~.	+	Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the required time. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary requirements.

−	Construction clients hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client and ~~contractor~~. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of ~~their~~ reputation ~~leading to a possible reduction in their~~ competitiveness.	+	Construction clients often hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client, contractor, occupants, customers and so on. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of reputation and competitiveness.

−	Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project ~~and are usually considered outside the control of contractors can~~ include:	+	Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project include:

−	* Clients making sudden changes and introducing variations;	+	* Clients making sudden changes and introducing variations.
−	* Unforeseen ground conditions;	+	* Slow decision-making.
−	* Delays in material supply;	+	* Unforeseen ground conditions.
−	* Inclement weather;	+	* Delays in material supply.
−	* ~~Labour disputes, and~~	+	* Inclement weather.
		+	* Disputes.
		+	* Defects.
	* Changes in market conditions.		* Changes in market conditions.
−
−	~~A 1996 survey of clients, consultants and contractors conducted by Chan and Kumaraswamy found that the three main factors that caused delays in Hong Kong building projects were:~~
−
−	* Site management and supervision;
−	* Unforeseen ground conditions, and
−	* Slow decision-making involving all project teams.

	A 1996 study by the Construction Industry Board (CIB) revealed that time certainty (and also cost certainty) is more often than not likely to be under the contractor’s control. This is mainly because time overruns are frequently seen to be:		A 1996 study by the Construction Industry Board (CIB) revealed that time certainty (and also cost certainty) is more often than not likely to be under the contractor’s control. This is mainly because time overruns are frequently seen to be:

−	* Symptomatic of poor management;	+	* Symptomatic of poor management.
−	* The contractors’ inability to predict and control the time needed to complete a project;	+	* The contractors’ inability to predict and control the time needed to complete a project.
−	* Inaccurate material estimating;	+	* Inaccurate material estimating.
−	* Poor labour productivity;	+	* Poor labour productivity.
−	* Inadequate planning;	+	* Inadequate planning.
−	* Poor site management~~, and~~	+	* Poor site management.
−	* Longer periods of on-site annual leave.	+

−	~~Time certainty is of crucial importance to both clients and contractors but it is the latter group who are exposed to more risks.~~ If delays occur on a project, contractors are impacted almost immediately by additional costs resulting from:	+	If delays occur on a project, contractors are impacted almost immediately by additional costs resulting from:

−	* Increases in overheads;	+	* Increases in overheads.
−	* Hiring more operatives;	+	* Hiring more operatives.
−	* Longer plant-hire periods;	+	* Longer plant-hire periods.
−	* Storage of materials~~, and~~	+	* Storage of materials.
−	* Delayed payments from the client.	+	* Delayed payments from the client or penalties.

	In their paper ‘Cost Certainty and Time Certainty: An International Investigation’ (Hong Xiao and David G Proverbs), time certainty was found to be largely dependent on first, cost certainty and second, the importance contractors allocate to cost, comparing them to the two sides of the same coin; neglecting one will have an adverse effect on the other. Also, the authors maintain that projects completed on time are those where the contractor realises there is no other option and so does as much as possible to bring this about.		In their paper ‘Cost Certainty and Time Certainty: An International Investigation’ (Hong Xiao and David G Proverbs), time certainty was found to be largely dependent on first, cost certainty and second, the importance contractors allocate to cost, comparing them to the two sides of the same coin; neglecting one will have an adverse effect on the other. Also, the authors maintain that projects completed on time are those where the contractor realises there is no other option and so does as much as possible to bring this about.

Editor at 20:45, 17 July 2019

2019-07-17T20:45:22Z

← Older revision		Revision as of 20:45, 17 July 2019
Line 1:		Line 1:
	{\|		{\|
−	\| [[File:Time.jpg]]	+	\| [[File:Time.jpg\|link=File:Time.jpg]]
	\|}		\|}

Line 50:		Line 50:
	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

−	* ~~How to prepare a claim for an extension~~ of ~~time~~	+	* Acceleration of construction works
−	* Variations in construction ~~contracts~~	+
−	* Extension of time - approval letter example	+
−	* Liquidated damages in construction contracts	+
−	* Loss and expense	+
−	* Relevant event	+
	* Adverse weather during construction		* Adverse weather during construction
	* Certificate of non completion		* Certificate of non completion
−	* Concurrent delay
	* Common refusals of extensions of time		* Common refusals of extensions of time
−	* ~~Delays on~~ construction ~~projects~~	+	* Completion date in construction contracts
−	* ~~Reasonable time.~~	+	* Concurrent delay
−	* ~~Relevant events v relevant matters~~	+	* Contract administrator for construction contracts
−	* Acceleration of construction ~~works~~	+
	* Contractor delay.		* Contractor delay.
		+	* Defects in construction
		+	* Delays on construction projects
		+	* Extension of time - approval letter example
	* Force majeure in construction		* Force majeure in construction
−	* ~~Contract administrator~~ for ~~construction contracts~~	+	* How to prepare a claim for an extension of time
−	* ~~Octoesse LLP v Trak Special Projects Ltd~~	+	* Liquidated damages in construction contracts
−	* Completion date in construction contracts	+	* Loss and expense
	* Nominated sub-contractor		* Nominated sub-contractor
−	* ~~Relevant matters in construction contracts~~	+	* Octoesse LLP v Trak Special Projects Ltd
−	* ~~Contract claims in construction~~	+	* Practical completion
	* Prolongation in construction contracts		* Prolongation in construction contracts
		+	* Reasonable time.
		+	* Relevant event
		+	* Relevant events v relevant matters
		+	* Relevant matters in construction contracts
	* Time at large		* Time at large
−	* ~~Practical completion~~	+	* Variations in construction contracts
−	* Defects in construction	+

	[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]		[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Editor: Created page with "{| | File:Time.jpg |} For clients and contractors in the construction industry, time certainty is one of the most important performance criteria. Time certainty is the like..."

2019-07-17T20:37:36Z

Created page with "{| | File:Time.jpg |} For clients and contractors in the construction industry, time certainty is one of the most important performance criteria. Time certainty is the like..."

New page

{|
| [[File:Time.jpg]]
|}

For clients and contractors in the construction industry, time certainty is one of the most important performance criteria.

Time certainty is the likelihood that even before a project starts, but also during the project, it will be completed within the time agreed between the client and the contractor. Time certainty is also affected by cost certainty which is the likelihood that a project will be completed within the budgetary framework agreed at the outset between the client and the contractor.

Construction clients hold these two concepts as their top priorities as delays and cost overruns can lead to higher costs for the client and a possible diminished relationship between client and contractor. For contractors, an excessive time extension to the project programme may mean lower than expected profits and a diminution of their reputation leading to a possible reduction in their competitiveness.

Construction projects tend to be high-risk undertakings which very frequently generate time and cost overruns. Typical factors that can delay a project and are usually considered outside the control of contractors can include:

* Clients making sudden changes and introducing variations;
* Unforeseen ground conditions;
* Delays in material supply;
* Inclement weather;
* Labour disputes, and
* Changes in market conditions.

A 1996 survey of clients, consultants and contractors conducted by Chan and Kumaraswamy found that the three main factors that caused delays in Hong Kong building projects were:

* Site management and supervision;
* Unforeseen ground conditions, and
* Slow decision-making involving all project teams.

A 1996 study by the Construction Industry Board (CIB) revealed that time certainty (and also cost certainty) is more often than not likely to be under the contractor’s control. This is mainly because time overruns are frequently seen to be:

* Symptomatic of poor management;
* The contractors’ inability to predict and control the time needed to complete a project;
* Inaccurate material estimating;
* Poor labour productivity;
* Inadequate planning;
* Poor site management, and
* Longer periods of on-site annual leave.

Time certainty is of crucial importance to both clients and contractors but it is the latter group who are exposed to more risks. If delays occur on a project, contractors are impacted almost immediately by additional costs resulting from:

* Increases in overheads;
* Hiring more operatives;
* Longer plant-hire periods;
* Storage of materials, and
* Delayed payments from the client.

In their paper ‘Cost Certainty and Time Certainty: An International Investigation’ (Hong Xiao and David G Proverbs), time certainty was found to be largely dependent on first, cost certainty and second, the importance contractors allocate to cost, comparing them to the two sides of the same coin; neglecting one will have an adverse effect on the other. Also, the authors maintain that projects completed on time are those where the contractor realises there is no other option and so does as much as possible to bring this about.

Greater planning input by the contractor is also known to have a positive effect on improving project performance (Faniran et al., 2001) and is why faster projects are usually found to be cheaper at the tender stage, punctual to deadlines and completed to customers’ satisfaction (NEDO, 1988).

A possible indicator of a contractor’s time certainty is that delays on previous similar projects are likely to reoccur on future projects. A good reputation is therefore critical for time certainty performance.

= Related articles on Designing Buildings Wiki =

* How to prepare a claim for an extension of time
* Variations in construction contracts
* Extension of time - approval letter example
* Liquidated damages in construction contracts
* Loss and expense
* Relevant event
* Adverse weather during construction
* Certificate of non completion
* Concurrent delay
* Common refusals of extensions of time
* Delays on construction projects
* Reasonable time.
* Relevant events v relevant matters
* Acceleration of construction works
* Contractor delay.
* Force majeure in construction
* Contract administrator for construction contracts
* Octoesse LLP v Trak Special Projects Ltd
* Completion date in construction contracts
* Nominated sub-contractor
* Relevant matters in construction contracts
* Contract claims in construction
* Prolongation in construction contracts
* Time at large
* Practical completion
* Defects in construction

[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]