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Mastering NEC4 Compensation Events: Time Assessments Explained
Manage episode 517589014 series 3695640
We unpack how to assess the time element of NEC compensation events, why the dividing date matters, and how to preserve terminal float. We share a three-step method to progress, model impact, and produce clear quotations without relying on end‑of‑project prolongation claims.
• defining compensation events and the rights to change dates and prices
• why quotations must show alterations to the accepted programme
• prospective versus retrospective assessment tied to the dividing date
• preserving terminal float and extending time only one way
• three-step method: progress, reschedule, impact the CE
• showing time risk allowance and principal resources
• using assumptions when uncertainty is too high
• pitfalls: old programmes, hidden float, missing planned key date conditions
• sequencing multiple CEs and aligning on method
• resources to deepen practice and prepare for the prices session
Join us on 1 December at 16:30 for Assessing Compensation Events Part Two: Prices
View the webinar: https://www.gatherinsights.com/en/webinars
Join the LinkedIn Group: https://www.linkedin.com/groups/2893228/
Chapters
1. Welcome And Speakers (00:00:00)
2. Series Context And Today’s Focus On Time (00:01:04)
3. What A Compensation Event Really Is (00:03:10)
4. Quotations And Alterations To Programme (00:05:50)
5. No Global Prolongation Claims (00:09:45)
6. Delay, Defined Cost And Risk Allowances (00:12:40)
7. The Dividing Date Explained (00:16:20)
8. Forecast Versus Actuals By Event Type (00:21:30)
9. Preserving Float And Extending Time (00:26:40)
10. Progress-Then-Impact Three-Step Method (00:31:10)
11. Modelling Techniques And Assumptions (00:36:00)
12. Common Pitfalls And How To Avoid Them (00:40:30)
13. Q&A: Old Programmes, Acceptance, Sequencing (00:45:00)
14. Resources And What’s Next On Prices (00:52:00)
15. Closing Thoughts And Sign-Off (00:54:30)
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