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Video

  • 11 minutes

Understanding How to Address Increases and Decreases in the GMP

 

What is a Change?

A change depends on the terms of the contract, but among the first things to look at are what is included and what is excluded in GMP. Are the assumptions applicable and is it an allowance item? The challenge in identifying changes comes from the fact that the baseline is different than in design/bid/build environment and is typically not well defined in standard forms. This video reviews what constitutes a change that should result in an adjustment to the GMP and how to address them.

Runtime: 11 minutes
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Agenda

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Faculty

Richard E. Burnham, Esq.

Richard E. Burnham, Esq.

  • Retired director with 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
  • Published several articles dealing with GMP and other alternate project delivery methods in legal and construction industry publications
  • J.D. degree, Villanova University School of Law; B.A. degree, Georgetown University
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