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Meeting Summary |
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Date: |
Thursday, October 14th, 2021 |
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Time: |
6:30 p.m. Virtual Networking 6:45 p.m. Business Mtg/Announcements 7:00 p.m. Technical Presentation |
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Please
Note: This is a Live Webinar
Technical Presentation |
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Location: |
MS Teams Virtual Meeting |
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Program: |
Owner Validation of Contractors’ Cost Forecasts |
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Speaker: |
Paul G Williams, Senior Vice President of Pathfinder, LLC |
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RSVP/Questions: |
[Click here ] to e-mail. |
Technical Program:
Owner Validation of Contractors’ Cost Forecasts
Owners, CMs, and Prime Contractors, to whom another Contractor is providing craft labor on a reimbursable (RE) or time-and-materials (T&M) basis, are faced with accepting risk associated with the performance of the contracted workforce. RE/TM Contractors would periodically be expected to issue reports indicating manhour and labor costs to-date as well as forecasts through and at completion.
Whether one is charged with actively managing the Contractor or simply paying the bills, it is important to understand whether such reports from the Contractor represent viable forecasts going forward. Developing an opinion of whether or not the data makes sense and if the reports may be possibly overstating or understating forecasts are critical to success.
Early identification of issues maximizes the time available to initiate corrective decision-making, and hence enhances the probabilities of successful outcomes.
This paper is intended to familiarize readers with basic concepts that can be applied to the review of such Contractor labor forecasts, enabling them to pro-actively deal with issues identified. It will address basic factors that directly affect the cost of installation labor, appropriate investigative approaches and action plans based on findings.
Speaker: Paul G Williams
Senior Vice President / Pathfinder, LLC
Paul G Williams, Senior Vice President of Pathfinder, LLC, has 30+ years of Project Management/Project Engineering experience with Owner and Contractor organizations worldwide in the Petroleum, Chemical Process, Pharmaceutical, Biotech, Microelectronics, and Food & Beverage industries. He has extensive multi-disciplined, hands-on engineering and construction experience, and demonstrated competencies in planning, budgeting, contract review and management of personnel.
Paul holds a B.S. in Mechanical Engineering from Pennsylvania State University and an M.S. in Engineering Management from Drexel University. He’s a Licensed Professional Engineer (PE) and Certified Project Management Professional (PMP) and has affiliation memberships in CII, AACEI, PMI, ISPE, and ASME.
RSVPs must be received on or before 5pm on Wednesday, 13-October 2021. Your friends and colleagues are always welcome; membership in AACE is not required.
In the event that you must cancel your reservation, please inform us at least 24 hours before the meeting.
Click here to RSVP before end of business day Wednesday, 10/13/2021.
Please register by Wednesday 10/13/2021, and an invitation including the Webinar link will be e-mailed to you. For AACE members who hold professional certifications, Webinar attendance counts toward renewal points as long as online attendance for the entire presentation is verified.
