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Construction Projects - Open Book Contract Management

The Royal Institution of Chartered Surveyors
Course summary
1 day
399 GBP excl. VAT
Next available date: Find dates - London

Course description

Construction Projects - Open Book Contract Management - 1-Day Course

Develop a strategy for implementing effective open book contract management systems and processes, maximise your value for money, and achieve tough targets.

The course focuses on the use of open book accounting techniques when operating cost reimbursable construction contracts such as the NEC3 options C, D and E, the JCT Constructing Excellence contract, the IChemE Green and Burgundy Books and the Public Sector Partnering Contract.

By using your existing knowledge of relevant contractual processes as a basis, you will develop an understanding and a strategy for implementing effective open book contract management systems and processes leading to improved efficiencies in the supply chain.

Suitability - Who should attend?

  • Quantity Surveyors and Commercial Managers
  • Asset Managers
  • Anyone involved in cost reimbursable and target contracts.

Outcome / Qualification etc.

  • Define dynamic and innovative ways of operating that will support delivery of value for money, such as:
  • Payment and valuation of actual cost
  • Managing change (compensation events)
  • Problem resolution
  • Demonstrate skills required to develop and manage sustainable improvements
  • Identify opportunities for cost efficiencies and improved value for money
  • Identify clear, mutual benefits and aligned values resulting in improved services
  • Evaluate risks and ensure they are clearly allocated and managed, including early warnings

Training Course Content

  • Developing and agreeing objective
  • Defining contract arrangements and targets
  • Establishing a procurement strategy
  • Developing a definition of actual cost
  • Establishing financial partner selection criteria   
  • Agreeing contract terms & finalising a definition for actual cost
  • Developing risk allowances & design development allowances
  • Agreeing the cost management and reporting processes
  • Managing changes and variations
  • Value management & engineering
  • Supply chain management
  • Effective use of frameworks and long-term contracts
  • Agreeing an audit strategy
  • Problem solving
  • Review process
  • Key performance indicators


Early bird - Book 6 weeks or more in advance and save 10%

RICS member: £310 + VAT

Non member £399 + VAT

About provider


The Royal Institution of Chartered Surveyors (RICS):
World's leading professional body for qualifications in land, property and construction

RICS is professional, independent organisation with more than 118,000 qualified members and over 50,000 students and trainees in over 140 countries, established in the UK by Royal Charter. It is committed to setting and upholding the highest standards of excellence and integrity...

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The Royal Institution of Chartered Surveyors

Parliament Square
SW1P 3AD London

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