A unique method of creating a legal entity that falls short of forming a Joint-Venture (JV) yet goes further than typical construction agreements.
When corporate messaging isn't aligned with corporate culture, organizations fail and often the root cause is never uncovered.
Using PBA's will require significant adjustments and all parties will need to rethink how they operate.
Owner's will begin to see the value and one day, managing a project in any other way will seem impractical.
PBA's work like a Trust that holds funds from an Owner as payment to the general contractor.
Tania and I will be addressing the topic of Artificial Intelligence and Cognitive technology in procurement and construction.
The SEC's focus on these issues foretells of major changes for construction in the future.
You should bear that in mind and recognize that your payment is always a form of reimbursement.
The category knowledge that these tools will draw from to generate their insights currently resides with guys and gals like me.
Unit pricing tends to rise as the scale of the project reduces.
When your buying power is limited, joining forces with another organization may represent a win for all parties.
Rip and Tear clauses establish the Architect's liability to pay for costs that the Owner may incur.