Course overview
NEC4 ECC – Commercial Management is part of Concordia’s Beyond the Clauses training series. It is for commercial teams managing projects under the NEC4 Engineering and Construction Contract. It focuses on successful project delivery and what your commercial team has to do, rather than working through the clauses one by one.
The course looks at how early warnings, cost records, forecasts and programme information inform commercial decisions. It examines what the commercial team needs to prepare, assess and keep under review when managing Defined Cost and compensation events.
Participants work through cost records, forecasts and compensation event scenarios. They discuss what to include in a quotation, how to support an assessment and what information is missing.
What the course covers
Topics include:
Early warning and commercial risk
- The commercial philosophy of NEC4
- Using early warning to manage commercial issues
- Risk management and how the parties work together
- Cost forecasts and commercial reporting
Cost and compensation events
- Defined Cost and supporting cost information
- Keeping records that can be checked and audited
- Using the programme to assess time impacts
- Compensation event management in practice
- Quotations and assessment principles
Managing the contract
- How the Project Manager and Contractor work together
- Authority and responsibility for commercial decisions
- Common problems in applying the contract and resulting disputes
- Applying the contract to day-to-day project decisions
Course delivery
Training is delivered face-to-face for your organisation over one day.
Entry level is for those learning to use NEC4. Experienced level is for those already working with the contract.
We agree the level and emphasis with you to suit your team’s experience and project requirements, including any contract amendments.
Who it’s for
The course is for commercial teams working under NEC4 ECC, including:
- Contract Administrators and Commercial Managers
- Quantity Surveyors
- Project Controls Personnel
- Client-side Commercial Teams
- Commercial Consultants and Advisors
