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“No Pain, No Gain” – The Art of Pain/Gain Share |
| Topic | 11:00 – 11:25 |
| “No Pain, No Gain” – The Art of Pain/Gain Share | |
| Speaker | Ir KWONG Wing Kie, Ambrose |  |
| Kwan On Construction Co. Ltd |
| Session Summary |
「No Pain, No Gain」 we used to believe no project could go without pain. Most of the projects are executed within an environment of uncertainty, where complete and perfect information relating to a project is never available until the project is complete. With the advent of NEC contracts, we have experienced a superb contract environment. The Contract No. DC/2012/05 – NEC3 Option D has demonstrated that “No Pain, No Gain” can simply be a fallacy.
The pain share/gain share provision in NEC contracts is not just a risk sharing mechanism between the employer and the contractor. It embodies a totality approach in managing the execution of contract and gives rise to a value enhancement and superior performance with quality end products.
NEC3 Option D aligns the objectives of the parties to reduce total costs. We hope more projects can be executed as NEC contracts, due to their collaborative approach in an open and fair manner. |
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