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Construction Project Management: Loss & Expense

This course will demystify the procedures for dealing with loss and expenses on a construction project.

Date:
Sat 12 Oct 2019
Time:
09:30 AM - 05:30 PM
Venue:
RICS Office, Room 3707-09, Hopewell Centre, 183 Queen's Road East , Wanchai, Hong Kong
CPD:
6 hours CPD

Early bird is available until 13 September 2019

From
HK$3500

Overview

It is important to understand what constitutes loss and expense, how to calculate the value, and what records should be kept throughout a project's life cycle to assist in the claims process.

Loss and expense should be clearly defined in the construction contract and determines criteria for restitution paid to contractors in order to rebalance cash position prior to instances of breach of contract.

In this course, you will learn when loss and expense claims should be paid and at what corresponding value. Participants will also learn how to deal with loss and expense procedure when managing construction projects.

Competencies

  • Commercial management
  • Contract administration
  • Architecture
  • Construction agency
  • Dispute resolution
  • Quantity surveying & construction
  • Building surveying

Construction Project Management Loss & Expense flyer

Course Structure

Introduction to loss and expense

  • What are loss and expense?
  • What events are compensable and non-compensable?
  • Definition and scope under different types of contract
  • How are loss and expense claims prepared, assessed and ascertained?

Loss and expense procedures and causes

  • Parties obligations relating to the subject
  • Content of Contractor’s Notices
  • Contract Administrator’s obligations regarding ascertainment
  • Typical heads of claim and formulae
  • Cause and effect schedules for demonstrating loss and expense

Head office overheads

  • Methods and calculation

How to improve successfulness in loss and expenses claims

  • Prompt notices
  • Clear definitions
  • Record Keeping

Learning outcomes

  • Ascertain/determine Loss & Expense
  • Prepare / deal with a Contractor’s Loss & Expense Notice
  • Advice the various parties relating to this subject on their obligations
  • Keep records to assist in loss and expense ascertainment

Who should attend

This course will demystify the nature of and procedures for dealing with loss and expenses in construction projects, and is suitable for:

  • Commercial managers
  • Quantity surveyors
  • Project managers
  • Employers agents
  • Contract administrators
  • Architects

Meet the Trainer

Mr KC Chang FRICS, Director, KCI Management Consultancy Limited

Mr Chang specialises in providing contractual advice to construction clients and has been involved in arbitration, mediation and litigation on construction disputes.

Before setting up his own business in 2005, he worked as a quantity surveying manager for a large contractor in Hong Kong, where he was extensively involved in heavy civil engineering projects. Mr Chang was a member of the RICS Hong Kong Board in 2016 to 2018 and has been an RICS APC Assessor for many years.

Mr Chang has been lecturing extensively on quantity surveying matters in Vietnam and Singapore for the RICS. Currently, Mr Chang is also involved in some Belt and Road projects and providing advice to mainland contractors overseas, including advising on various FIDIC contract forms.

Price

For enquiries or further information, please contact Mr Peter Au, RICS Business Development Manager, on +852 2116 9719 or pau@rics.org.

  • Standard fee RICS professionals HK$3500
  • Non-RICS professionals HK$4000
  • Visa

  • Mastercard

From
HK$3500