Review methods to calculate costs.
Additional costs are the financial consequence of unanticipated impacts. There are several methods of calculating cost including contract, estimates, actual cost, total cost, and modified total cost; and different cost categories such as delay, inefficiency, and acceleration. This video reviews these types of cost calculations and cost categories and discusses mitigation of delays and damages.
Mark Nagata, PSP, CDT
Trauner Consulting Services, Inc.
- Director, shareholder with Trauner Consulting Services, Inc.
- Expertise in the areas of CPM scheduling; claims preparation and analysis; and the review, editing, and updating of specifications
- Has provided expert testimony on delays, termination for default, and damages
- Author of Construction Delays, Third Edition
- Certified planning and scheduling professional
- Certified Construction Documents Technologist with the Construction Specifications Institute
- Involved in the analysis and presentation of claims on projects involving mass transit, government, military, education, high-rise residential, and civil works construction
- Contributing writer to the Association for the Advancement of Cost Engineering International’s Recommended Practice No. 29R-03 for Forensic Schedule Analysis
- The Recommended Practice is the first publication in the industry that comprehensively classifies all known schedule analysis techniques used by construction scheduling professionals to identify and measure project delay using project schedules
- Award-winning instructor with the National Highway Institute; he is currently presenting the following courses: “Managing Highway Contract Claims: Analysis & Avoidance, Alternative Contracting,” “Use of CPM for Estimating Scheduling and Timely Completion,” and “Principles of Writing Highway Construction Specifications"
- B.A. degree in economics, University of Pennsylvania
- Can be contacted at 215-814-6400 or [email protected]
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