Knowledge management in composition of construction contracts

Abstract

Objective: The objective of this paper is to present a model which will allow knowledge management in construction contracts composition. Research Design & Methods: It was decided to investigate the possibilities to manage knowledge in constructions contracts composition. The complexity of construction process interested parties, construction contract life cycle, multilayer construction contracts modelling possibilities were evaluated. Findings: There are many possibilities for construction contracts composition. In order to make well-considered construction contract it is not enough to know the civil law, construction, management and so on. You have to use experience earned during long time. Good practice and earlier mistakes have to be evaluated. Implications & Recommendations: Proposed model can be used and practically implemented in construction contracts evaluation system. The structure of proposed model allows realising complex view to contract preparation, evaluate corporation knowledge and can be very helpful for construction contractors, subcontractors, investors and other related construction process participants which can improve construction contracting using collected experience and best practice in construction contract making allows to avoid mistakes. Contribution & Value Added: In the following research, model of information system for construction contracts structural analysis (previously developed by the authors) is additionally developed by taking into consideration the possibility to use the knowledge management.