Featuring (click image for more information):

George F. Burns Attorney at Law Bernstein Shur

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Why You Should Attend

Given the complexity of purpose, planning, and execution, it should be no surprise that claims alleging adverse actions result in unwarranted costs, lost profits, or other economic damages are not uncommon in the construction industry. Yet with all valuation challenges involving construction companies knowing how to properly assess the economic impact of these actions can be tricky at best.

In Part 7 of BVR's Online Symposium on Litigation and Economic Damages attorney George Burns discusses what these alleged actions include, how their economic impact is assessed, and what every appraiser should know before accepting such a challenging valuation assignment.

Agenda

• Introduction: definition & presentation of construction claims
• Claim pricing methodologies
• Total cost method
• Modified total cost
• Actual cost method
• Jury verdict method
• Claims for delay
• What is delay?
• Determining responsibility for delays: the project schedule
• Pricing the impact of delays
• Disruption
• What is disruption?
• Pricing the impact of disruption
• Acceleration
• What is acceleration?
• Pricing the impact of acceleration
• Typical causes of construction claims
• Extra work
• Defective specifications
• Differing site conditions
• Cardinal changes
• Defective work
• Termination
• Summary & conclusion

Learning Objectives

• Learn why economic damages claims are made in construction projects and how these claims arise
• Understand which methods are used for assessing these claims and why
• Learn what distribution and acceleration are in construction claims and what they mean for the assessment of lost profits claims
• Clarify the appraisers role in construction claims and their determination

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CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

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