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Many presentations have been given on why the new engineering contract (NEC) is so different from other standard forms of contract. I have given quite a few myself over the last 25 years. But I have only recently focused on the criticality of just one word in the NEC contracts: forecast. It’s important to keep in mind four key points:

CONSTRUCTIONCONTRACTS FORCASTINGCOST NEWENGINEERINGCONTRACTS CHANGEMANAGEMENT MITIGATINGFAULT

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