Description
Know the steps that can be taken to reduce the possibility of time and cost impacts and also methods to address problems in real time. All project participants start off with the best of intentions.
Owners want a project that meets their expectations and is completed on time and within budget. The design professional wants a project that can add to its portfolio of accomplishments that also makes a profit. Contractors, likewise, want to provide a fine work product that speaks to their capabilities, develops new relationships for future work, and of course, makes a profit. Once the work starts, however, and sometimes even before that, the wheels go off the rails. The magnitude of these problems can mean later claims for compensation greater than the original project value. Understanding that this is construction, and the more unique or complex the project, the more likely issues will arise that test the mettle of all project participants. There are steps that can be taken to reduce the possibility of time and cost impacts, and also methods to address problems in real time as well as to preserve positions in cases in which resolution cannot be achieved. This topic will address what can be done and when is the time to do it.
Date: 2024-01-31 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe to project participants earlier in the process the anticipated and existing issues that is causing the project to not meet expectations.
* You will be able to identify risks that are being undertaken based on the specific contract language.
* You will be able to recognize situations that may lead to disastrous implications down the road.
* You will be able to review from a more objective viewpoint how and to what extent responsibility for the problems that occurred should be properly assigned.