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Calculating the Cost of a Change

presented by Lorman Education Services
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Calculating the Cost of a Change

Workshop Description/Agenda

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 oftendifficult 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 shouldnt pay. CMs, 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. Review the sometimes controversial areas of unabsorbed home office overhead, interest, and consequential damages.

Methods of Calculating a Standard Change Order
ï Estimates
ï Actual Cost

Standard Change Order Pricing
ï Labor, Equipment, Material, Subcontractors
ï Field and Home Office Overhead

Calculating Delay, Acceleration, and Inefficiency Costs
ï Labor and Material Cost Escalation
ï Idle Equipment
ï Extended Field Overhead
ï Home Office Overhead

Other Costs
ï Interest, Bonds, Consulting and Legal Fees, Consequential Damages

Mitigating Costs

Bill Haydt, Esq. with Trauner Consulting Services, Inc.

AIA ,CPE ,ENG ,Additional credit may be available upon request.

Who Should Attend

This live audio conference is designed for construction and project managers, engineers, presidents, vice presidents, owners, architects, controllers, accountants, contract managers and attorneys.

Additional Information

Training Provider: Lorman Education Services

Course Topics: Law Training > Other

Training Course Summary: Calculating the Cost of a Change

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