Introduction

Construction is expensive, and the spectrum of professional practice varies wildly. While some professionals uphold the industry’s gold standards, others can be disappointing at best and criminally negligent at worst. In some cases, a judgement call must be made to terminate a project prior to completion. Unfortunately, this process is usually expensive and complicated.

It is possible to ease the stress of ending a project by using a standard structure that considers the contract documents, construction industry standards, and the “iron triangle” (scope, budget, and schedule with quality at the core) of project management. This structure does not magically make termination quick and cheap, but it does make the process as efficient and painless as possible. No matter what stage of a construction project-gone-bad you are in, remember you are not trapped. You can always negotiate from a position of strength.

"Terminating a Construction Project Before Completion" is for everyone involved in the business of building or buildings, including property owners & managers, governmental organizations, developers, contractors, insurers, lawyers, and anyone else caught up in the headaches of a project that has gone wrong or has already been terminated. The course will explain the roles and responsibilities of the different parties who contribute to a construction project, teach our Construction Claim Analysis framework, and review case studies that demonstrate successful project termination from the perspective of both owners and subcontractors.

Program Outline

1. Introduction

2. Contracting 101

3. Construction Claim Analysis Framework

4. Read the F*** Contract

5. Calculating Damages

6. Salvaging a Project

7. Insurance Coverage

8. Conclusion

Learning Objectives

• Review the basic roles & responsibilities in construction.

• Learn a framework for analyzing a construction claim.

• Discuss how damages are calculated after a contract is terminated.

• Strategize how one might salvage a construction project rather than terminate.

• Review case studies and real world examples of projects that were terminated before completion.

Our Panel

Continuing Education Credit

A disclaimer that this 120-minute webinar does not provide continuing education credit.