Arbitration is a form of alternative dispute resolution (ADR). It is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget. A key factor that distinguishes project management from just ‘management’ is that it has this
Cost engineering is “the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis.” One key objective of cost engineering is to arrive at accurate cost estimates and schedules and to avoid cost overruns and schedule slips. Cost engineering goes beyond preparing cost estimates
A quantity surveyor (QS) is a construction industry professional with expert knowledge on construction costs and contracts. We are responsible for managing all aspects of the contractual and financial side of construction projects. We also manage the costs on construction projects. As our main objective, we to ensure that the construction project is completed within its projected budget. Major