You need a lot more than a calculator to determine and forecast change costs in construction.
Changes on construction costs are inevitable. That means that often-difficult negotiations of the appropriate price for the change are also inevitable. The objective of this topic is to help systematically strip away the mystery, the magic, the misconceptions, and the uncertainty surrounding the pricing of changes. Contractors will learn what they must include to be made whole. Owners will learn both what they should pay and what they shouldn't pay. CMs and attorneys, and the consultants and accountants that advise them, will learn what is needed to accurately and persuasively price a change. The focus is on the hard topics - the legitimate damages associated with delay, the real costs of inefficiency, and the balancing concerns when pricing acceleration.
Learning Objectives
- You will be able to define methods of calculations.
- You will be able to explain the difference between standard versus impact change orders.
- You will be able to identify delay, acceleration, and inefficiency costs.
- You will be able to discuss mitigation of impact costs.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Methods of Calculating a Standard Change Order
- Estimates
- Actual Cost
- Standard Change Order Pricing
- Labor, Equipment, Material, Subcontractors
- Field and Home Office Overhead
Calculating Delay, Acceleration, and Inefficiency Costs
- Labor and Material Cost Escalation
- Idle Equipment
- Extended Field Overhead
- Home Office Overhead
Other Costs
- Interest, Bonds, Consulting and Legal Fees, Consequential Damages
Mitigating Costs
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 8, 2022.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Bill Haydt, Esq.
Trauner Consulting Services, Inc.
- Managing Principal, Shareholder at Trauner Consulting Services, Inc.
- Qualified expert in construction scheduling, delay analysis, and damages
- Has drafted various project delivery procurements and contracts for a large agency, including Design-Bid, and CMAR procurements/contracts
- Expertise lies in the areas of construction claims preparation and evaluation, development and review of critical path method (CPM) schedules, delay analysis, training, and dispute resolution.
- Certified and award-winning instructor for Federal Highway Administration’s National Highway Institute courses, including Managing Highway Contract Claims: Analysis and Avoidance, and has provided CPM scheduling services to contractors and owners on a variety of projects, including bridge, highway, educational, and hotel projects.
- Has presented seminars, webinars, and construction claims-related presentations for private firms and public agencies across the country.
- B.A.Degree in Civil Engineering and Architectural Engineering, Drexel University and J.D. degree, Temple University James E. Beasley School of Law
- Can be contacted at [email protected] or 215-814-6400
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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