Webinar: Effective Strategies for the Valuation and Evaluation of Variations and Change Orders (Recording Option)
This presentation explores the methods and strategies for evaluating variations and change orders as well as claims within construction contracts. Variations, which may involve changes in type, quantity, specifications or conditions are a core part of contract administration and require a robust understanding of valuation approaches and contractual mechanisms. The presentation discusses methodologies such as using pre-agreed contract rates and prices, and contrasts them with cost-based approaches - especially for significant and unforeseen changes.
The discussion will also cover pre-agreement strategies for change valuation, emphasising the need for contractors and employers to agree on the valuation basis before implementing changes. Attendees will learn the importance of understanding contract terms, the implications of local laws, and the role of structured hierarchies, like those outlined in FIDIC and NEC contracts. Additionally, we will address the challenges of large-scale projects, the complexities of indirect cost impacts on preliminaries, and the importance of dealing with rate adjustments. Real-world examples and case studies will be used to illustrate these concepts, providing attendees with practical insights and tools for effective contract management.
About the speaker:
Uditha Tharanga Withanachchi, Chartered Quantity Surveyor, Contracts and Claims Specialist, and Quantum Expert.
Uditha is a dedicated professional in the construction field with a strong background in Contracts and Claims Management, as well as Alternative Dispute Resolution. He has contributed his expertise as a Construction Claim specialist, serving as counsel and expert witness in significant arbitration cases.
With over a decade of experience, Uditha has played pivotal roles in diverse Building and Civil Engineering projects across the Middle East, United Kingdom, and South Asia. His extensive exposure encompasses various types of claims and a wide array of commercial and contractual matters, spanning the entire project lifecycle from inception to final accounts.
About the webinar:
Cost: Complimentary
CPD: 2 points
The views and opinions expressed in this presentation are those of the presenter(s) and do not necessarily reflect the official policy or position of AIQS.
