Despite alignment on quoting these costs separately, there still seems to be little to no consistency.
One of the strategies for maximizing the value of capital is to extend payment terms.
This process occurs before the contractor presents an invoice.
A lien is a legal document that imparts ownership onto a third party until a specific debt is paid.
The project provided the revitalization it was meant to, but the path it took was fraught with frustration.
These list are unwritten and never published, but this practice is alive and well in construction circles everywhere.
Johnston is so focused on procurement that he has completely overlooked the rest of the findings.
You can download a PDF version of my ProcureCon presentation here.
Failing to perform any of these duties…could elevate your risks, delay your project, and increase your costs.
Hackitt’s comments on procurement are one of many recommendations which are part of an integrated systemic changes.
Our models determined that both parties were at risk using blended rates.
An Owner can be responsible for causing a delay and later collect liquidated damages against the contractor.