Walk through a GMP contract from preconstruction to close-out.
During the chronology of performance in a GMP Contract it all starts with preconstruction. Many important pieces happen during this phase. There is an open and active exchange of ideas for the project, an analysis of the impact that those ideas may have on project cost, trust and a professional working relationship can be developed among the stakeholders, and early pricing information can provide the owner and their lender with good guidance relative to ultimate project cost. This video reviews this phase as well as the GMP negotiation phase, the construction phase, and the close-out phase.
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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