Events

NEC3 Compensation Events: Masterclass for Construction Professionals

 

Context

For anyone working in the public sector, whether as client or consultant, a detailed working knowledge of NEC3 Compensation Events is essential in the current trading environment where tender prices are low and all parties seek to maximise their contractual position to make ends meet. The NEC3 Compensation Events – Masterclass for Construction Professionals has been designed to help ensure that construction professionals have the necessary level of expertise in this financially critical area of the contract.

Course Content

  • Overview of change management – How early warnings, the risk register and the accepted programme feed into the compensation event procedure.
  • Definitions of compensation events – Core clauses. Main and secondary options.
  • Time scales – Notification, submission, re-submission, acceptance.
  • Assessment – Basis for assessment. Cost and time risk allowances. Forecasts and assumptions. Reduced prices. Reasons for reducing the assessment. Excluded costs. A methodology for the rapid assessment of compensation events.
  • The schedule of cost components – When to use the ‘normal’ and shorter schedule of cost components. Understanding the ‘normal’ schedule. Understanding the shorter schedule.

Who should attend?

This course is aimed at those involved in the administration and management of change under the NEC3 Engineering & Construction Contract. It is an advanced course for those who already have some experience and a working knowledge of the contract, yet wish to develop their capabilities further.

Tutor

Dr Jon Broome is one of the UK’s leading consultants and trainers on the NEC. He completed a PhD on its effective operation. His contributions to the 2nd and 3rd editions are acknowledged in the contract. He has had numerous articles and papers, as well as the top selling ‘User’s Guide’ book published on the contract.

Key details

Course duration:     1 day

When:                      9am to 5pm on Wednesday 9 December 2015

Where:                     Lecture Room 4, Riddel Hall, Stranmillis Road, Belfast

Cost:

RSUA Practice Services Scheme members £200 + VAT
RSUA Members £239 + VAT
Non-members £266 + VAT

No of places:

Places are limited to 20 so early booking is advised.

How to book:  

Contact Julia Leaker julia@rsua.org.uk (Mon, Wed, Fri) or Jeanette Hedley jeanette@rsua.org.uk (Tue, Thurs) to book. Cheques should be made out to RSUA and sent to 2 Mount Charles,Belfast,BT7 1NZ