Concept of Delay in Construction
Delays are handled differently:
Food/Retail Industry: Late deliveries often result in withheld payments, and in many cases, the vendor is replaced.
IT: Missed deadlines can lead to project cancellation, with a new developer brought in to take over.
Construction: Delays trigger liquidated damages tied to milestones. Extension of time claims both extend the schedule and relieve penalties.
In this video, I explain the concept of delay in the construction industry, how it should be properly defined, and how it differs from delays in other industries.
Check our project control courses
https://smartpmtraining.com/courses/
Check our construction digital transformation and AI solutions
https://www.novycore.ai
