What are some of the signs that could indicate your fixed-price remediationproject might go over budget? Some of the issues we must face while dealing withguaranteed fixed-price remediation (GFPR) projects put us “at odds” with normal proceduresfor project evaluations, cost estimates, remediation approaches, and ultimatelythese factors may result in budget overruns. As in most projects, issues that can “gosouth” suddenly become major issues when dealing with a GFPR. GFPR projects need tobe handled with a different eye than for a normal project. Assume that you have alreadypocketed the money and that you will have to pay until the project is complete, NOMATTER WHAT HAPPENS. Think of more than one way to remediate the problem,and anticipate changes in owners, tenants, neighbors, and the regulatory agency. Finally,identify things that are out of your control such as attorneys, regulatory agencies, insurancecarriers, neighbors, the public, and even your proposed remediation costs. A GFPRnormally lasts longer than the initial participants do, so proper planning and forethoughtis a must to ensure project continuity for subsequent project participants. The authorsprovide several case studies and “Lessons Learned” where GFPR projects went UGLY orcould have gone UGLY based on the authors’ experiences.
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