Management of Procurement

This invaluable book covers all aspects of procurement, from drafting and using contracts to procurement strategies for privately financed projects. It is written from a construction perspective, and uses examples from other industries where appropriate. This essential book offer presents guidance, explanations and case studies to help the reader comprehend the strengths and weaknesses and realistic meanings and outcomes of the stages in the development of an effective procurement strategy. Bringing together the theory and practice that relates to procurement, the book offers guidance on show the process should be undertaken. It begins by outlining the role of procurement in the construction industry, including the problems it faces and some of the steps that can be taken to overcome these problems. It then goes on to consider contractor selection and raises issues relating to the allocation of risk in contracts and factors to consider when awarding a contract. A brief summary of the relevant legal aspects is also provided. The book also examines contract strategy, major organizational arrangements and payment types and provides a summary of the key features of the most common standard forms of contract. The relationship between benchmarking, key performance indicators and incentives is explained and a framework for developing incentive mechanisms is provided. CONTENTS include: Role of procurement in the construction industry; Contractor selection, contract award and contract law in the UK; Drafting and using construction contracts - a legal perspective; Procuring the service of a project manager; Contract strategy; Incentives in construction contracts; Effective partnering; Alliance/partnering contract strategy; Joint Ventures; Procurement strategies for privately financed projects; Framework agreements; Innovative procurement methods; Procurement through program management; and Future trends in construction procurement: procuring and managing demand and supply chains in construction.