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Project Management in Construction. Implementation of the FIDIC Framework Contracts

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  • Ana-Maria Valkova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The increasing complexity of construction projects in Bulgaria, along with the rising number and value of these projects, necessitates clearer contractual methodologies for managing the evolving relationships between parties. The integration of standard contracts, such as those of FIDIC, is a crucial step in ensuring clarity and security in contractual relations, especially amid growing interest from foreign investors in Bulgarian construction projects. Examples of successful implementation of this framework in other countries are increasing, highlighting a strong link between the adoption of best practices in contractual relations and effective project management. The main objective of this article is to compare the initial adoption of FIDIC in Bulgaria with its more long-standing implementations in other countries, supporting the hypothesis that improvements in project timelines, budget adherence, and stakeholder satisfaction can be expected. This would mark a step towards unifying project management standards in Bulgaria in alignment with broader efforts to standardize contractual practices in the construction sector.

Suggested Citation

  • Ana-Maria Valkova, 2025. "Project Management in Construction. Implementation of the FIDIC Framework Contracts," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 18-38, March.
    • Handle: RePEc:nwe:iisabg:y:2025:i:1:p:18-38
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    More about this item

    Keywords

    project management; Key words: construction; FIDIC; framework contracts.;
    All these keywords.

    JEL classification:

    • N64 - Economic History - - Manufacturing and Construction - - - Europe: 1913-
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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