{"product_id":"contract-strategies-for-major-projects-mastering-the-most-difficult-element-of-project-management-9781119902096","title":"Contract Strategies for Major Projects: Mastering the Most Difficult Element of Project Management","description":"\u003cp\u003e\u003cb\u003eMajor Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting Stage\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eOrganizations that invest huge amounts of capital in major building\/industrial projects almost never do the engineering and building themselves. They hire engineering and construction contractors to do it for them. Unfortunately, selecting contractors and negotiating the terms of a major project is one of the most difficult aspects of project management...and organizations waste billions of dollars and \"bake in\" months or years of delay by doing it wrong. Contracting is also the area of project management that is most prone to firmly held opinions unencumbered by any facts. We intend to remedy that situation with this book. Drawing on a properietary detailed database of over 1100 major projects, the world's leading industrial engineering project consultant, Ed Merrow explains: \u003c\/p\u003e \u003cp\u003eKey Principles of Contracting for Major Projects: \u003c\/p\u003e \u003col\u003e \u003cli\u003eOwners are from Mars; contractors are from Venus\u003c\/li\u003e \u003cli\u003eAll the biggest risks in contracting belong to the owner\u003c\/li\u003e \u003cli\u003eContracting \"games\" will normally be won by contractors, not owners\u003c\/li\u003e \u003cli\u003eMost risk transfer from owners to contractors is an illusion\u003c\/li\u003e \u003cli\u003eContractors do good projects well and bad projects poorly\u003c\/li\u003e \u003cli\u003eContractors may have shareholders, but they are not your shareholders!\u003c\/li\u003e \u003cli\u003eMixing different contract types with different contractors on the same project is unwise\u003c\/li\u003e \u003cli\u003eEconomize on the need for trust; trust only when being trustworthy has value\u003c\/li\u003e \u003c\/ol\u003e \u003cp\u003eMerrow also explains: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eWhich contract incentives work and which don't and WHY\u003c\/li\u003e \u003cli\u003eWhich of over a dozen contracting strategies work best and which ones hardly ever work and WHY\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe strategic advice in this book is designed for owners and contractor project managers, team members and supply chain, executives, and other business leaders involved in major projects. It's also an indispensable resource for engineers, leaders of industrial firms, bankers, and academics studying the messy realities of the construction and engineering industries.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eEDWARD W. MERROW is the Founder and CEO of Independent Project Analysis, Inc., the world's leading evaluator of billion-dollar mega-projects. IPA benchmarks project costs, schedules, and safety, start-up and operational performance and helps owners gauge their competitiveness and project management practices.\u003cbr\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":50508902367506,"sku":"9781119902096","price":35.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_abc45a6f-2693-4f25-ba92-dade051c1b7e.jpg?v=1730881916","url":"https:\/\/surprise-castle.myshopify.com\/products\/contract-strategies-for-major-projects-mastering-the-most-difficult-element-of-project-management-9781119902096","provider":"Surprise Castle","version":"1.0","type":"link"}