Risk Allocation Mistakes in Residential Lump-Sum Construction Contracts
Prefer to listen instead of read? Here’s the narrated version of this article. Introduction Residential construction projects often use lump-sum (fixed-price) contracts for their simplicity and cost certainty. However, these contracts place most financial risk on the contractor, making proper risk allocation critical. Common mistakes, like unclear scope definitions and failure to account for unforeseen […]
Case Study of Akashi-Kaikyo, The Longest Suspension Bridge.
Unit Rates Estimating Units rates estimating is a topic which any skilled cost estimator should master. Having a strong understanding of what is included in a unit rate, how a unit rate is impacted by various factors, simple versus complex unit rates, etc. opens the door for a cost estimator to achieve better productivity, increase […]