RCS Blog
March 22, 2020
Contracts between Owner and Contractor
Construction contracts There are a large variety of contract forms, with the most frequently employed discussed here. Many associations and professional societies develop contract forms that align with the types presented. Therefore the owner is not required to create a new contract form from scratch. Instead, an owner can rely on the structures that have been refined over time incorporating the lessons learned from experience. Stipulated sum Also called a lump sum or fixed-price
February 1, 2020
Value Engineering
Value Engineering Value Engineering (VE) is one of the most effective techniques known to identify and eliminate unnecessary costs in projects. Value is a fair return or the equivalent in goods, services, or money for something in exchange. Value can be understood by the formula: Value = Function/Resources. The function is measured by the performance requirements, and resources are measured in the materials, labor, price, time, etc., required to accomplish that function. Value Methodology (VM)
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