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construction costs

This tag is associated with 3 posts

Construction cost volatility alert for design professionals

Project owners want certainty on both the cost of putting a capital asset in place and the time it will take for the productive asset to become available. One of the greatest sources of claims against design firms is the dissatisfaction of clients with the ability of firms to design to a budget and complete … Continue reading

Recovering after Hurricane Florence

According to a report prepared by Governor Roy Cooper, the early damage estimates to North Carolina’s businesses and infrastructure from Hurricane Florence stand at $12.7 billion. The report provides sector-by-sector assessments and discusses available funding sources. Design firms looking to provide services for recovery efforts can access the full report. As noted in the report, … Continue reading

Opinions of cost

An insured recently asked us for advice in response to his client’s request for an estimate of construction costs. I suggested that instead of providing a “cost estimate,” which may indicate a commitment that the project can be constructed for that “estimate,” it would be preferable to offer to provide an “opinion of probable costs.”  … Continue reading