Program Description
Every construction project is bound by a Contract. Proper Contract Management plays a major role in the effective management of your construction projects. Adhering to all the Contractual obligations, the terms and conditions can save both cost and time. The acquisition of skills in Contracts Management is essential for legal adherence, risk mitigation, operational efficiency, and personal career growth, making it an indispensable skill set for professionals across diverse fields. The course covers all the fundamentals required for a good understanding of construction contracts. First, you will learn the basics of construction contracts and it will introduce you to what contracts are and why managing them is important. Next, Indian Contract Act is the foundation for any business deal or agreement. This course covers the Indian Contract Act in detail. Then it covers few standard Contract Forms that are followed in a Construction project mainly FIDIC. The procedures to commence work, the documents required at each stage of the project, variation procedures, payment terms, basis for termination and suspension of works by either party, completion of work, roles, and responsibilities of all the stake holders and their staffs, dispute resolution methods, Arbitration procedures etc. are all mentioned in the course.
Course Objectives
- To identify key terms and conditions of a contract
- To comprehend the Tendering process in Contracts
- To understand the ways to draft clear, enforceable contracts that align with the interests of all parties involved.
- To identify, assess, and manage risks associated with contracts, applying appropriate risk mitigation strategies.
- To understand the best practices in dispute resolution and management.
Key Highlights
Indian Contracts Act.
FIDIC form of contracts.
Procurement and tender proposal.
Contract Documents.
Structure of contract.
Management of Contract.
E-contract.
Alternative Dispute Resolution Methods.
Arbitration and Conciliation Act
Learning Format
Online
Duration
5 Units
Certified by
IITM Pravartak Technologies Foundation
Technology Innovation Hub (TIH) of IIT Madras
and
L&T EduTech
Program Fee
₹5100 (inclusive of tax)
Education Qualification
Students pursuing Diploma/ UG /PG Programs in all Engineering branches
Suggested Prerequisites
NA
Teaching Hours
20 hours
Lead Faculty
Brig. (Retd) Vinod Nakra Professional Urban Transportation and Infrastructure Executive
With over three decades of extensive experience, he is a corporate techno-legal expert specializing in the infrastructure and construction field. His expertise lies in providing preemptive techno-legal support, focusing on contract drafting, pre-qualification, bid analysis, contract administration, and dispute resolution through arbitration and alternative mechanisms. He has a strong background in project leadership, overseeing planning, procurement, supervision, quality assurance, and timely execution of complex turnkey construction projects, including highways, bridges, and airport infrastructure such as runways and taxiways. Additionally, he is a licensed government-approved valuer of movable and immovable properties. Well-versed in FIDIC and other international contracts, as well as MS Project and Prima Vera, he has a proven track record of capacity building in project management.
