What costs make up a change order?
There are a number of costs involved in change orders. Labor costs and material costs seem obvious, however overhead markup and profit markup need to be looked at closely. Additionally, labor rates may include a percentage for overhead, profit, and supervision, or these costs may be listed separately. This video reviews the different costs and provides examples of what that can look like when dealing with change orders.
Agenda
Faculty
Scott Lowe, P.E.
Trauner Consulting Services, Inc.
- Principal with Trauner Consulting Services, Inc.
- Expert in critical path method scheduling, construction claim preparation and evaluation, dispute resolution, development specification, contract administration, and cost analysis
- Recognized as a national expert regarding specifications, and procurement and contracting methods for the construction industry, particularly in the areas of innovative delivery, procurement, and contracting methods
- More than 30 years of experience in the engineering and construction industry
- Served as a lecturer and presenter at national industry conferences and workshops on these topics
- Has facilitated meetings and workshops to discuss and implement changes in contracting policies and procedures to manage risk and improve performance
- Past chairman of the Construction Management Association of America’s time management committee which developed CMAA’s Standard of Practice and Procedures for Time Management
- Co-wrote the books, Construction on Contaminated Sites and Construction Delays: Understanding Them Clearly, Analyzing Them Correctly
- Registered professional engineer in more than 10 states
- Graduate, Northwestern University
- Can be contacted at [email protected]
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