Advanced Issues in GMP Contracting
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CD & Manual | ||
| 389135TMX | $219.00 USD |  |
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84 Min. Audio MP3 - No shipping cost | ||
| 389135POD | $219.00 USD | |
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| Credit Details | |||
| What is a Podcast? | |||
Benefits
As owners have searched for project delivery systems that reduce the overall duration from project conception to project completion without increasing their risks or their costs disproportionately, one of the most common approaches has included the use of guaranteed maximum price, or GMP, contracts. However, as the use of the various GMP contract formats has proliferated, so have disputes.
This live audio conference will address and resolve these dispute suggestions that parties to these disputes often lack full appreciation of the differences between GMP contracts and the contracts that the users are used 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.
This live audio conference is designed to highlight those differences and equip you with the knowledge needed to both understand and manage the differences and unique risks and administrative burdens of using this format. This program will be presented in a simple and straightforward manner by a professional with years of hands-on experience in the negotiation, drafting and administration of GMP contracts.
Learning Objectives:
- You will be able to recognize how to use the various component of the GMP as tools for managing risk.
- You will be able to explain and improve your understanding of the potential rewards and risks of inherent in GMP contracts.
- You will be able to discuss what should change the GMP and what should not.
- You will be able to identify how proper contract administration will help you manage risks as the work proceeds.
Agenda
| Review Components of GMP | |
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| Chronology of Performance and the Skills Needed for Each Phase | |
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| Risks and Rewards From Perspectives of Owner, CM/GC, and Designer | |
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| Administering Increases and Decreases in the GMP | |
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| Keys to Success and Summary of Risks |
Faculty
Richard E. Burnham, Trauner Consulting Services, Inc.
Richard E. Burnham
- Director, Trauner Consulting Services, Inc.
- Hands-on experience with many types of construction projects and the spectrum of contract delivery methods from various perspectives
- Vice president of a major international contractor whose $1+ billion annual revenue included major building and heavy construction projects for both public and private clients
- Senior manager of a major engineering company
- Advisor to public transportation agencies
- Expert witness regarding the proper administration and analysis of changes, delays and damages
- Consultant on major contract disputes throughout the United States
- Presenter of seminars and webinars on litigation avoidance, analysis of construction claims, and critical path method scheduling
- Former adjunct professor at a highly regarded engineering college
- Contracts negotiated and drafted include many GMP contracts, as well as some of the largest public private partnerships, design-build, design-build-operate-and-maintain projects in the country
- Helped sureties and insurers manage risks and minimize losses, and has played a major role in several due diligence reviews relating to acquisitions and takeovers
- Helped structure, manage and administer numerous completion contract scenarios
- J.D. degree, Villanova University School of Law; B.A. degree, Georgetown University
- Can be contacted at 407-345-0366 or rick.burnham@traunerconsulting.com
These Materials are Designed For
This live audio conference is designed for project managers, construction managers, contractors, subcontractors, presidents, vice presidents, construction professionals, engineers, architects and attorneys.
| CD & Manual | - CD Set with bound 34 page manual |
| Podcast | - 84 Minute MP3 with 34 page electronic manual - Immediate Access and No Shipping Cost |
