Low-ball contractor's win bids with the intention of making up losses through change orders.
There is no degree of change that will ever replace these roles. They are required on every job.
If you are a start-up with a need to focus on your core business, this model may be for you, just not for too long.
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.
There are only certain types of suppliers who have the training and legal obligation to look after the Owner's best interests.
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.