Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have a GMP contract to build a corporate office building for $10 million. Your estimate includes a fee of 3%, general conditions of $370,000
You have a GMP contract to build a corporate office building for $10 million. Your estimate includes a fee of 3%, general conditions of $370,000 and no contingency. After the Purchasing Phase is complete, you have a "buy out" of $350,000. Before the job begins, what is your expected profit for the project? As the job progresses, the excavator finds poor soil conditions on the site and the foundations need to be revised, at an extra cost of $200,000. How do you pay for this extra? After the soil problem is resolved, you are subjected to poor performance by the drywall subcontractor which delays the project 2 months. The cost to bring the project back on schedule is $200,000. How do you handle this
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started