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These studies suggest that contract governance in construction project management is crucial for defining responsibilities, ensuring compliance, enhancing project performance, and reducing opportunistic behavior, while also requiring improvements in flexibility and legal practices.
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Contract governance in construction project management is crucial for ensuring project success, minimizing disputes, and safeguarding the interests of all parties involved. Effective contract management encompasses the entire project lifecycle, from initial agreements to final project delivery, and involves clear definitions of responsibilities, rights, and obligations.
Core Importance of Contract Management:
Clarity and Precision in Contracts:
Comprehensive Contractual Framework:
Monitoring and Coordination:
Legal and Regulatory Compliance:
Addressing Common Issues:
Subcontract Management:
Effective contract governance in construction project management is essential for achieving project objectives, minimizing disputes, and protecting the interests of all parties. Key strategies include ensuring clarity and precision in contracts, establishing comprehensive contractual frameworks, implementing robust monitoring and coordination mechanisms, adhering to legal and regulatory standards, and addressing common management issues. By focusing on these areas, construction projects can be managed more efficiently and successfully.
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