To provide construction project managers, contract administrators, and financial analysts with a comprehensive understanding of managing variation orders effectively, focusing on review, follow-up, and financial implications including contractor payment capabilities.
This course delves into the management of variation orders within construction projects, emphasizing the processes of reviewing, approving, monitoring, and reporting variations. It includes a focus on assessing the financial health of contractors to handle variations, ensuring project integrity and contractual compliance.
Target Group
Target Group:
Construction Project Managers
Contract Managers and Administrators
Quantity Surveyors and Cost Engineers
Financial Planners and Analysts in Construction
Compliance and Risk Management Officers
Goals
Understand the fundamental principles and procedures of variation orders in construction.
Develop skills to effectively review and approve variation requests.
Learn to monitor variations to ensure compliance and proper execution.
Master the art of financial assessment related to variations, including contractor payment capabilities.
Enhance reporting methods to provide clear and comprehensive updates on variation status.
Target Competencies
Variation Order Management: Skills in handling, approving, and integrating variation orders.
Financial Assessment: Ability to evaluate contractor financial stability and the impact of variations on project budgets.
Contractual Compliance: Ensuring all variations comply with contractual terms.
Reporting and Documentation: Expertise in documenting and reporting on the status and impact of variation orders.
Risk Management: Competence in assessing and mitigating risks associated with variations.
Outlines
Introduction to Variation Orders
Definition and importance of variation orders in construction
Legal and contractual frameworks governing variations
Types of variation orders and their common causes
Initial assessment and financial feasibility analysis for variations
Impact of variations on project scope and budget
Reviewing and Approving Variation Orders
Steps for effective variation order review
Criteria for approval of variation requests
Role of contract managers in the approval process
Tools and techniques for evaluating variation impacts
Case studies: Successful management of complex variation orders
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