Description
Construction is risky, know how to manage claims and resolve disputes.
Construction is inherently risky. These risks include unanticipated design changes, changed conditions, disputed additional work, and other unforeseen circumstances that can result in contractors incurring additional costs. It is essential for all parties involved to understand how these risks are assigned by your construction contracts and how to determine the party ultimately responsible for these added costs. This includes being able to measure the associated impacts (such as delays) and costs. This topic will cover these risks, identify the contract provisions that enable contractors to request additional compensation and a time extension (and owners to deny additional compensation and time), explain how to measure impacts and quantify costs, and discuss the alternate dispute resolution options available to the parties to resolve their differences.
Date: 2024-03-12 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to identify the steps necessary to prove entitlement to additional costs in accordance with your construction contract.
* You will be able to identify how changes and project events impact projects and identify the best way to measure those impacts.
* You will be able to describe and calculate the different types and categories of additional costs.
* You will be able to review the different options available for resolving claims.