risk management Archive

Best practices for an Owner-developer seeking to reduce risk to its Construction Manager under a Guaranteed Maximum Price (“GMP”) contract suggest adoption of these action items: 1. Contract Provided to CM in Advance to Price Risk Too much time and leverage is lost when contract negotiations begin after a Construction Manager (“CM”) is selected. A […]

In an era of volatile material costs, it is important for contractors to implement strategies to minimize their risk. While some contracts provide relief for excessive cost increases for fuel, steel, or other discrete items, contractors generally assume the risk of cost increases and other unpredictable developments post-bid. The first risk that contractors can minimize […]

In a time of volatile pricing and stressed supply chains, there is increasing uncertainty whether a subcontractor or supplier will be able to timely satisfy its scope of work. If there is an inability to hold the original price and schedule duration, the entire project will suffer. Open communication of these risks to all members […]

As 2019 came to a close, below are a handful of decisions issued by Ohio courts throughout the year that were of interest to those in the construction industry. 1. Ohio’s Tenth District Court of Appeals Provides Helpful Guidance as to When the Article 8 Process is Triggered and Again Acknowledges that the Public Owner […]

On August 14, 2019, the Court of Appeals, Ninth Judicial District (Summit County) handed Ohio subcontractors and suppliers a victory on mechanic’s lien rights by reversing and remanding a trial court decision where the lower court had held that a subcontractor’s notice of furnishing was invalid because it was served before the sub had performed any labor or […]