The objectives of this unit are to give students a fundamental knowledge of the legal system and contract terms under which projects are generally conducted. Initially, emphasis will be on contract negotiations and understanding what negotiation is about and how to prepare for negotiations and also how to manage the negotiation so that a suitable outcome for both parties may be achieved. Also being able to deal with difficult opponents will be something that will be considered. Emphasis will be on the principles of contract formulation, administration and finalisation, including prevention and/or settlement of disputes in projects. The syllabus comprises brief overview of the legal system in Australia and comparison with other legal systems introduction to project delivery systems and the running of a typical project, introduction to contract law and the formation of contracts, the principles of standard form contracts as well as bespoke drafting, an understanding of the risks undertaken by the different contracting parties, a detailed review of a standard contract promoting an understanding of major project issues such as time, variations and payment; implementation and administration; potential liabilities associated with project participation; contract conditions and specifications; understanding insurances and alternate dispute resolution procedures; notification requirements including time bar, understanding the commercial significance of issues such as latent conditions, subcontracting, bank guarantees and security of payment legislation.