Implementing eichelay formula in govt. Construction projects
By: Mahesh, Ch
.
Contributor(s): Reddy, B. Ramkaran.
Publisher: Pune NICMAR 2013Edition: Vol.28(2), Apr-Jun.Description: 53-62p.Subject(s): Construction Engineering and Management (CEM)Online resources: Click here
In:
NICMAR Journal of construction managementSummary: In India, construction is the second largest economic activity after agriculture, and will account for nearly 65% of the total investment in infrastructure sector in the next five years. Investment in construction industry accounts for nearly 11% of India's GDP. In general, construction projects are executed through contracts which are complex and not easy to comprehend even by experienced professionals. With advancement in technology and huge requirement of infrastructure in developing countries like India, there will be a huge increase in size and complexities of the nature of projects. This gives rise to ambiguities in the prevailing contracting methodologies eventually making contract documents more complex and difficult, causing adverse impacts such as increase in number of claims and disputes besides time and cost overruns. Studies and research on the problems of the construction industry have pointed out some fundamental causes of project failure; one of which is the proliferation of claims, disputes and litigations in the construction industry. To overcome this scenario, it is essential to develop a system that can assist the contract administrators to understand and evaluate the worth of their claims prior to taking it for litigation. The long gestation periods and the thin spread of resources are the main reasons for delay in completion of a number of ongoing projects. An attempt has been made here to introduce Eichelay formula to achieve this objective in case of disputes arising out of Time Delay and Extensions. Considering the above facts in the construction industry with reference to some specific government projects, a study has been carried out.
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School of Engineering & Technology (PG) Archieval Section | Not for loan | 2024-0806 |
In India, construction is the second largest economic activity after agriculture, and will account for nearly 65% of the total investment in infrastructure sector in the next five years. Investment in construction industry accounts for nearly 11% of India's GDP. In general, construction projects are executed through contracts which are complex and not easy to comprehend even by experienced professionals. With advancement in technology and huge requirement of infrastructure in developing countries like India, there will be a huge increase in size and complexities of the nature of projects. This gives rise to ambiguities in the prevailing contracting methodologies eventually making contract documents more complex and difficult, causing adverse impacts such as increase in number of claims and disputes besides time and cost overruns. Studies and research on the problems of the construction industry have pointed out some fundamental causes of project failure; one of which is the proliferation of claims, disputes and litigations in the construction industry. To overcome this scenario, it is essential to develop a system that can assist the contract administrators to understand and evaluate the worth of their claims prior to taking it for litigation. The long gestation periods and the thin spread of resources are the main reasons for delay in completion of a number of ongoing projects. An attempt has been made here to introduce Eichelay formula to achieve this objective in case of disputes arising out of Time Delay and Extensions. Considering the above facts in the construction industry with reference to some specific government projects, a study has been carried out.
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