The Indian economy has benefitted considerably from the infrastructure sector. It is a diverse field that encompasses many industries including construction, urban and rural development, real estate, telecommunication, and transport. It contributes a share of about 8-9 percent to India's GDP. In recent years, the demand of specialist consulting services is being immensely sought by customers in India, which has eventually opened the opportunity for many consultants to help businesses with expert knowledge-base and resources.
However, the major challenges faced by clients often revolve around organisational limitations and their project management approach. Poor and inadequate communication among stakeholders is the key reason for misunderstandings, re-works delays and most importantly disputes.
This is exactly why Contract Square helps its clients by reviewing the existing communication and document management system of the client’s organization and suggest suitable re-structuring and take-over the day-to-day functions of drafting and analysing the correspondences on behalf of the client. This way the company ensures proper organizing and optimum quality in deliveries.
Filling the Gap
Time is of the essence of any construction project or contract; and Cost is a function of Time as far as project delivery is concerned. These two along with Quality form the triad on which Project Management is based upon.
Therefore, a continuous and strict control mechanism on these aspects is paramount for the successful execution and delivery of any project. Hence, obviously this becomes the primary objective and focus of any project management team. It is here that clients feel the need and Contract Square comes in. “Our services are built around assuring our clients with our famous tagline ‘We focus on contract management and paperwork so that you can focus on execution’. We design our services around this objective of protecting our client’s interests at all times within the framework of contract delivery and its rights and risks”, states Ritayan Biswas, CEO, Contract Square.
Process is the Key
Project Communication is the very basis on which the whole system of Project Management application is based upon. As soon as Contract Square is on-boarded for the Contract Management of a project, it audits the existing system followed by client and takes it upon itself to organize, set-right, digitise, and archive all correspondences and records associated with the project and exchanged between various stakeholders in the project.
Effective and timely communication helps prevent misunderstandings, resolves conflicts, and ensures everyone is aligned. “On our part, we start working as a part of the client’s project team and explain to them the importance of record-keeping, timely communication and notifications”, adds Ritayan. “We peruse the Contact documents and analyse the Contractual risks by identifying potential risks in the Contract Agreement and suggest appropriate Action Plan and Alerts mechanism to safeguard our customer.
We use project management software to plan and monitor the execution of the Project and as evidence of the entitlement of the contractor in Delay Claims. We follow robust cost estimating techniques to analyse the quantum of compensation entitled in any claim of our clients. We collect and maintain actual cost related data to use it for preparing a claim with evidence, whenever required”, says Ritayan.
Standing Out
Contract Square follows a system of bottom-up escalation process for the purpose of validation and quality assurance for any deliverable it generates. Its services and delivery are guided by well-defined procedure documents and process flow developed in line with international best practices. Timeliness of response is the hallmark of quality in client services. Contract Square’s clients depend on its response to their needs which are intrinsically time-bound in nature. The techno-legal drafting of correspondences and analyses prepared by the company is ensured to be focussed with clarity and objectivity on the purpose and subject matter concerned. Every effort is made to ensure that the work is thoroughly researched and covers the entirety of the matter from all aspects.
Contract Square takes utmost care to ensure that the data which form the basis of an analyses and claims are accurate and comprehensive to the best of its knowledge and as shared by client teams. The team has in-depth knowledge of the different functions of Contract Management consultancy i.e., correspondence preparation, claim preparation, delay analysis, drafting, record-keeping, project planning, schedule analysis, Risk management, etc. “One of the main and important aspects of Contract Square’s service is record keeping because these records are important for further processing of Delay Analysis, Prolongation and Cost claims or Dispute Resolution Mechanisms”, mentions Ritayan.
Contract Square has carved for itself a focussed area of specialization which is, the consultancy provided to construction companies in the infrastructure development sector, to handle their Contract Management, Claims Preparation, Dispute Resolution, Arbitration and Litigation support Services
Looking Ahead
Contract Square has seen through some troughs and crests within the four years of its existence. Even though it is still in its early days, the company has experienced tremendous growth since inception. “We have been able to handle different types of Infrastructure projects in parallel spread out geographically all over India. The talented and hardworking team of Contract Square have successfully claimed approximately INR 12 billion in Arbitration awards and presently handling Construction Projects worth of around INR 24 billion. These figures stand testimony to the success of Contract Square”, states the CEO. Contract Square is actively looking forward to participating in projects in promising sectors such as Metro Rail, Airports, Mining and Railways.
“We have formed a formidable team who have expertise in Pre-bid Risk assessment and mitigation, Contract management, Schedule analysis, Forensic Delay analysis, Claims and Arbitration, etc. Our major focus in the coming times will be on delivering quality services and consolidating our presence within the domestic market. We have also got plans of spreading our wings by incorporating new types of projects and expanding our client base overseas”, he concludes.
Ritayan Biswas, CEO, Contract Square
Ritayan Biswas, CEO of Contract Square, is an internationally seasoned Planning, Project Controls, and Claims Specialist. His expertise in end-to-end Project Management is dedicated to achieving organizational goals with precision and excellence.
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