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CONSTRUCTION CONTRACTS' PRICING ACCORDING TO CONTRACTUAL PROVISIONS AND RISK ALLOCATION

Authors: Sara Farag Abd Al-Wahab; Ahmed Mohammed Abdelalim; Manal Sayed Abd El-Hamid;

CONSTRUCTION CONTRACTS' PRICING ACCORDING TO CONTRACTUAL PROVISIONS AND RISK ALLOCATION

Abstract

Abstract: Construction contracts are complicated legal agreements with several terms that must be carefully considered. As a result, it is critical that all parties participating in construction projects understand the relevance of contractual clauses and how they might influence project results. This allows construction professionals to negotiate, draw, and execute contracts that are more successful in achieving their objectives. In this technical paper, we will examine the importance of contractual provisions in construction contracts, and develop the contract pricing process to according to contractual provisions within the integrated contract management system, which can be partially or fully self-executing and self-enforcing, eliminates the need for intermediaries and makes methods such as demand letters or legal action unnecessary. Digital transformation for high productivity Smart contracts can execute terms automatically when predefined conditions are met, and blockchain technology can ensure that automated tasks are transparent and uncorrupted. Throughout the paper, we will draw upon existing literature studies and empirical research to illustrate the practical implications of our findings. By providing a comprehensive analysis of the relationship between contractual provisions and construction contract pricing, this paper aims to contribute to a deeper understanding of this critical aspect of the construction industry Keywords: Contract Pricing, project management, Risk Allocation, Contracts Provisions, Digital transformation. Title: CONSTRUCTION CONTRACTS’ PRICING ACCORDING TO CONTRACTUAL PROVISIONS AND RISK ALLOCATION Author: Sara Farag Abd Al-Wahab, Ahmed Mohammed Abdelalim, Manal Sayed Abd El-Hamid International Journal of Civil and Structural Engineering Research ISSN 2348-7607 (Online) Vol. 11, Issue 1, April 2023 - September 2023 Page No: 8-31 Research Publish Journals Website: www.researchpublish.com Published Date: 28-April-2023 DOI: https://doi.org/10.5281/zenodo.7876040 Paper Download Link (Source) https://www.researchpublish.com/papers/construction-contracts-pricing-according-to-contractual-provisions-and-risk-allocation

International Journal of Civil and Structural Engineering Research, ISSN 2348-7607 (Online), Research Publish Journals, Website: www.researchpublish.com

Keywords

project management, Digital transformation, Contract Pricing, Contracts Provisions, https://www.researchpublish.com/papers/construction-contracts-pricing-according-to-contractual-provisions-and-risk-allocation, Risk Allocation

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selected citations
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This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
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