Cost & Time Impact of Rework on Construction Projects
Live Webinar | Presented By James G. Zack, Jr
Date: Wednesday, February 24, 2021 | Time: 1 PM ET | Duration:90 min
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Rework in the construction industry is frequent and well known. It is a drain on construction productivity, profitability, and the timeliness of project delivery for both contractors and owners. Additionally, the need for rework can have spinoff or downstream impacts for all project stakeholders. The causes of rework are, likewise, very well known: design and construction changes; errors and omissions; project enhancements; operability changes; fabrication changes and errors, etc. While rework is common, the impact has not been thoroughly assessed, studied, or discussed. This webinar assesses and identifies the typical cost of rework on a wide range of project types. It shows how the cost of rework is frequently understated and provides an estimate of the true “average cost” of rework. The webinar also identifies the average impact of rework on project duration in terms of time as well as unrecoverable extended overheads and the cost of liquidated damages. Finally, the webinar identifies several practical methods that can be employed by owners and contractors to substantially reduce both the cost and time impact of rework.
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