It is common place that major construction companies report net profit in the range of 2% to 3% and even less. It is usually seen in most of the arbitrations that Arbitral Awards constitutes as much as a 2% to 3% of contract value and it is evident that the amount realized by asserting the rights in Dispute Resolution forum is matching almost the net margins in the industry. This itself is a sufficient reason to focus attention on asserting the contractual rights so as to recover the cost incurred due to defaults of employer or client which is very often neglected either due to lack of resource to manage the claims or conscious restrained approach not to displease the client. With the entry of many overseas companies into India and many Indian companies working abroad, this hesitation is fast disappearing. In recessionary period, when margins are doubtful and the contract forms being of International Model, claims have to be founded in the contemporary period in the specified timelines precisely and records also have to be maintained in the manner required. This requires a concurrent approach and eye on the day to day events during the currency of contract and constant monitoring. Navigating a claim arising out of asserting a right has to be with needed expertise and once that is assured, the efforts that go into, will yield either reasonable settlement or claims with high potential to success. This is all the more reason why Contract Management practices have to be upto date and in tune with the best practices abroad.