Float ownership: an integrated approach on a new case study examination
1 year ago
Authors:
Võ Minh Huy
Publication date:
13 / 08 / 2022
Name of Publishers:
The 5th International Conference on Research in Engineering and Technology (RET2002)
Abstract:
Abstract—One of the most disputable issues in the litigation of delay claims is the float ownership. Under existing float approaches, float time is not always free and therefore it may belong to a relevant party in the construction progress. As a result of current approaches, when the project occurs schedule delay, float ownership and its utilization can become a major controversial issue. This study heavily focuses on reviewing a number of available float approaches and proposes an integrated approach that can be broadly applied by a new case study. The primary approach is based on the party who owns the float at the very beginning of the construction project associated with total float trades as commodity as well as to track into total float changes after schedule delays or acceleration of the project. The results reveal that the total float of the project shall be used and managed strictly in terms of involving in contract clauses to directly its utilization and allocating responsibility(ies) after schedule delay(s).
Keywords—Float ownership, existing approaches, an integrated approach, contract clauses, responsibility (ies).