Washington, DC (PRWEB) September 10, 2013
In less than a week, WPL Publishing will sponsor a webinar to help professionals within the construction community understand and manage issues relating to the guaranteed maximum price (GMP) format of project delivery.
The pace of life seems to just get faster and faster, and construction projects are no exception. As owners have searched for project delivery systems that reduce the time it takes to get from project conception to project completion, one of the most common approaches has been to use GMP contracts. As the use of GMP contract formats has proliferated, so have disputes. The nature of many of these disputes strongly suggests that the parties using them do not fully grasp the differences between GMP contracts and the contracts that the users are accustomed to working under, how to manage the risks that are inherent to this delivery system, or the additional administrative burden that accompanies the use of this format. The webinar will help attendees understand and manage the differences and unique risks and administrative burdens of using this format. To register for the 90-minute event, scheduled for Tuesday, Sept. 17, 2013, at 1:00 p.m. (EDT), visit http://tinyurl.com/n3bdy8t.
The webinar is designed to help attendees do the following:
- Understand the advantages and disadvantages of GMP contracting.
- Know what each stakeholder needs to do during each of the four phases of work that typically are performed under a GMP contract.
- Use the components of a GMP contract as tools for managing risk.
- Better understand the potential rewards and risks that are inherent in GMP contracts.
- Learn what should change the GMP and what should not.
- Recognize how proper contract administration can help manage risks as the work proceeds.
Addressing attendees will be Trauner Consulting Services Inc. Director Richard Burnham. He is a construction industry executive and attorney who brings years of hands-on experience with all types of projects and a spectrum of contract delivery methods from several perspectives. He served as vice president of an international contractor whose $1 billion-plus annual revenue included building and heavy construction projects for public and private clients. He additionally served as a senior manager of a major engineering company, an advisor to public transportation agencies, and an expert witness regarding the proper administration and analysis of changes, delays, and damages. He has lectured on litigation avoidance, analysis of construction claims, and critical path method scheduling.
Following Mr. Burnham’s presentation, there will be an interactive 10-to-15 minute question-and-answer session addressing relevant topics.
Webinar tuition is based on location, not number of participants, so each registration site can have multiple participants for one low price. To register, visit http://tinyurl.com/n3bdy8t.
WPL Publishing Co., Inc. provides expert training, education, and development resources for the construction industry via live webinars and its ConstructionPro Network website (http://www.ConstructionProNet.com). Through ConstructionPro Network, WPL publishes the independent newsletter ConstructionPro Week, providing news, analysis, and insightful commentary about recent developments involving construction law, green buildings, building information modeling, and various construction managerial technologies and techniques.