Construction firms are coping with a seemingly unending series of supply-chain disruptions that are compounding problems caused by record materials cost increases and pandemic-induced challenges to operations. It has never been more important for project participants to be prepared with strategies to mitigate the risk of material price escalation and delays due to material shortages -- in order to preserve the feasibility and profitability of the project. On this episode, Greg Sweeso of Tarlton Corporation, Jack Mumma of Michigan State University, and Ronald Ciotti of Hinckley, Allen & Snyder LLP share risk mitigation strategies available during the bidding, procurement, and contracting phases of the project.
Guests:
Greg Sweeso, Project Manager, Preconstruction at Tarlton Corporation
https://www.tarltoncorp.com/
Jack Mumma, Construction Contract Administrator, Michigan State University
https://ipf.msu.edu/
Ronald Ciotti, Partner at Hinckley, Allen & Snyder LLP
https://www.hinckleyallen.com/
Resources:
ConsensusDocs Price Escalation Resource Center - https://www.consensusdocs.org/price-escalation-clause/
New COVID-19 Epidemic Contract Rider Helps Guide General Contractors and Subcontractors Through Uncertain COVID-19 Construction Risk Management - https://www.agc.org/industry-priorities/contracts-law/construction-law
AGC Construction Inflation Alert - https://www.agc.org/learn/construction-data/agc-construction-inflation-alert
AGC 2021 Convention Slides:
https://www.agc.org/sites/default/files/Files/Communications/Constructorcast/AGC%202021%20Convention%20Slides.pdf
Construction Trends & Outlook:
https://www.agc.org/sites/default/files/Files/Communications/Constructorcast/Construction%20trends%20%26%20outlook.pdf
