RICS has today launched new guidance for its members which will assess the costs and benefits of speeding up the construction process.
Acceleration addresses how speeding up the completion of construction projects can be achieved and what financial value can be placed on doing so. It also highlights the legal and financial repercussions associated with accelerating projects, and offers best practice guidance for contractors and clients.
A client may wish a contractor to complete a project early in order to avoid the building being handed over late. Alternatively, a projected delay to the completion date may have serious financial and logistical repercussions. In these circumstances, it may be in the employer's interests to accelerate the works, rather than to face the consequences of the building not being ready when required.
A construction contractor may wish to accelerate progress to reduce site running costs, to free up site staff for work elsewhere, or may need to ensure completion by the contract completion date, so as to avoid liability for liquidated damages.
In addition to offering guidance to contractors and construction clients, Acceleration also provides advice for quantity surveyors, who are often tasked with assessing the practicalities, risks and costs involved. In particular, it is likely to fall to the quantity surveyor to review and comment on any acceleration quotation provided by a contractor.
Alan Muse, RICS Director, commented:
“A number of construction contracts don’t currently include any procedural notes on acceleration, yet speeding up the construction process can be vital for construction firms and their clients. Projects can require accelerating for a variety of reasons so it is important that both contractors and clients understand precisely what is involved.
“This guidance provides comprehensive advice on how projects can be delivered ahead of schedule, the potential benefits of doing so and the legal implications involved. It also advises on how acceleration can be evaluated on a benefit versus cost basis, and addresses the role of the quantity surveyor in the process.”
