I find that having liquidated damages in a contract from my client helps me as a project manager.
Companies often want to avoid having liquidated damages in the contract.
However, as a project manager, I find it is a lot easier to get resources within the company to assist with the completion of a project if there are liquidated damages or penalties for late completion in the contract.
This makes senior management take the project more seriously. They are then less likely to reallocate resources away from your project and are more likely to give you resources to your project when requested.