On attending this training program, attendees will gain a better understanding of the issues concerning the pricing of contractor delay damages. Contractors will gain knowledge about the various methods of calculating extended field office overhead costs. Owners will learn some contractual methods for predetermining this element of delay costs in order to prevent the need for end of the job audits or disputes over such costs.
While rework is common, the impact has not been thoroughly assessed, studied or discussed. This webinar will assess and identify the typical cost of rework on a wide range of project types. It will show how the cost of rework is frequently understated and provide an estimate of the true average cost of rework.
The webinar will also identify the average impact of rework on project duration in terms of time as well as unrecoverable extended overheads and the cost of liquidated damages. Finally, the webinar will identify a number of practical methods that can be employed by owners and contractors to substantially reduce both the cost and time impact of rework.
Why Should You Attend:
Rework in the construction industry is frequent and well known. It is a drain on productivity, profitability and timeliness of project delivery for both contractors and owners. Additionally, the need for rework can have spinoff or downstream impacts for all project stakeholders. The causes of rework are, likewise, very well known: design and construction changes; errors and omissions; project enhancements; operability changes; fabrication changes and errors, etc.While rework is common, the impact has not been thoroughly assessed, studied or discussed. This webinar will assess and identify the typical cost of rework on a wide range of project types. It will show how the cost of rework is frequently understated and provide an estimate of the true average cost of rework.
The webinar will also identify the average impact of rework on project duration in terms of time as well as unrecoverable extended overheads and the cost of liquidated damages. Finally, the webinar will identify a number of practical methods that can be employed by owners and contractors to substantially reduce both the cost and time impact of rework.
Areas Covered in the Webinar:
- Identify what rework and the typical causes of rework on construction projects.
- Identify the reported cost of rework on construction as identified by a large number of studies.
- Reveal the true cost of rework.
- Provides an estimate of the average amount of delay caused by rework on the typical construction project.
- Provides an estimate of the delay cost arising from rework.
- Be provided with a model for predicting rework on new or future projects.
- Gain information on a number of practical recommendations intended to reduce the amount of rework on future projects.
Who Will Benefit:
- Contractor project managers
- Project sponsors
- Cost estimators and project control personnel
- Construction managers
- Design professionals performing services during construction.
- Project owners and owner representatives
Course Provider
Jim Zack,
