Frequently Asked Questions
What is commercial management in construction?
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Commercial management in construction involves overseeing and managing all commercial aspects of a construction project, ensuring that financial and commercial objectives are met.
Why is commercial management important in construction projects?
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Effective commercial management is crucial for the success of construction projects as it helps manage costs, improve financial performance, and ensure that all commercial aspects are effectively handled.
What KPIs does Stonehaven track for commercial management?
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We monitor cost variance, cash-flow accuracy, variation turnaround time, claims cycle time, payment application aging, procurement savings, and final account variance, enabling early intervention and transparent client reporting.
What is the responsibility of a commercial manager?
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Our commercial managers offer strategic planning, expert guidance, and efficient management, contributing to the overall success and commercial viability of your construction projects.
What are the processes of commercial management in construction?
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In construction, the processes of commercial management involve overseeing project finances, contracts, and risk to maximise value and ensure compliance. At Stonehaven, this includes cost planning, tendering and procurement, contract administration, change management, payment review, claims and dispute resolution, and final account settlement.