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Risk Management for Construction

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					 Risk Management for
     Construction
      Dr. Robert A. Perkins, PE
Civil and Environmental Engineering
   University of Alaska Fairbanks
               Class 2
• Construction and Risks
• Work Breakdown Structure
• Estimating and Risks
General Risk Allocation, Fisk
        Contracting Strategy
• Contract type
  – Lump sum, cost reimbursable
• Procurement method
  – Sole source, prequalification, public bid
• Project Delivery System
  – Design-bid-build
  – Design-build
  – CMAR
 Design Build for Public Owner
• Start with “Design criteria”
• “Bridging Design”
• Contractor submits preliminary design
  – 35%
• Changes
  – Sure
• Less than DBB
  – Probably
                   DB vs. DBB
•   DB faster, see next
•   Quality about the same
•   Cost?
•   Changes
    – Are they different?
    – Literature varies, some indicated DB had
      more changes and they cost more
         Projects Analyzed
                               No. of DBB
               No. of DB
 Housing           2                4
Barracks/          2                5
Dormitory
Industrial         5                4
 Utilidor          3                4
  Other            2                3
                34 DB and DBB Combined

             Average Cost    $ 15.9 Million
  Cost growth and changes for DB
        versus DBB projects
                       Average    Average Growth
          Construction No. of     Cost per
          -Contract    Changes    Contract ($)
          Cost Growth per
          (%)          Contract
 DBB        6.6%         25        1,069,882
  DB        3.1%         14         480,046
p value     1.7%        1.5%         4.6%
 Owner’s project manager’s point of view
• Controllable changes
  – design errors
  – lack of site access (perhaps due to permitting
    problems)
  – deficiencies in owner-furnished materials or
    equipment.
• Uncontrollable changes
  – changes requested by the using group
  – differing site conditions
      A comparison of the number and
     costs of changes for each of three
                change types
          Engineering         User Changes            Differing Site
            Changes                                     Conditions

       No./avg     $/avg     No./avg     $/avg     No./avg     $/avg
       contract   contract   contract   contract   contract   contract

DBB
         15       482,513       1       5,033         5       226,020
DB
          4       195,714       5       71,514        3       221,524
 p
       0.1%        5.1%      0.4%       2.4%       27.1%       49%
         Conclusions re D-B
• Certainly are design-related changes
  – Much less than DBB
• More user-requested changes in D-B
• Worthwhile to examine these as a source
  of cost growth distinct from design errors
     What the hell is CMAR?
• Owner employs the A/E.
• CM is selected based on qualifications
• The CM provides “preconstruction
  services:” evaluating costs, estimating,
  providing value analysis, scheduling, and
  constructability advice
• Owner and CM negotiate a price
• “Guaranteed Maximum Price” (GMP)
              CMAR = nirvana
• Preferred by public owners of complex projects
• Used exclusively by higher education
  – Minnesota
  – Arizona
  – Often by Texas
• Why?
  –   Control the A/E details
  –   QBS
  –   Complex scheduling issues
  –   Avoids disasters
  –   Cheaper?
           Culture Change
• Owner, A/E, CM and Subs are separate
  economic entities
• Clear roles in DBB
  – Good fences make good neighbors?
• Poll
  – Employer-type
  – Number of Public CMAR contracts
CMAR Problems for Public Projects
•   Hire CM shortly after A/E
•   Subs expertise
•   Scope and budget tension
•   Teamwork and partnering
•   Design Errors
•   Design Constraints
  When is delayed hiring a severe
             impact?
• Most A/Es and Subs feel it becomes
  severe if not done before 35%
• Most Owners and CMs don’t feel it is
  sever until the 65%
• Opinion?
Disagree




Agree
• A/Es don’t believe CMs have specialty
  experience in house and are comfortable
  with negotiating with subs early.
• Owners want to show that they are
  bringing in the best price.
   Tension Regarding Scope and
             Budget
• CM wants to cut scope and budget to
  reduce risk
• Has an incentive to bring in high estimates
• Owner wants all the scope possible out of
  the budget
• A/E does not want design changes
     Regarding S-B Tension
• Yes, indeed
• Partnering is often a benefit
• Independent estimator may not reduce
  tension
• Forcing estimate agreement may increase
  tension
• Is tension bad?
            Other Conclusions
• CM fees
  – With more experience, fewer wanted CM fees in the
    proposal
• Owners did not believe there were fewer design
  errors in CMAR, while all other parties did.
• CM and subs felt there could be more fast-
  tracking done, Owners and A/E felt there was
  enough
• All were comfortable have the CM self-perform
  some of the work.
       Estimating and Risks
• Many risks are evaluated by considering
  variation in estimates
• We will spend some time on estimating
• Owner’s
• Contractor’s
• Change Order
     Project stages and WBS
• Estimate type will vary with project stage
• Uncertainty/risk associated with an
  estimate will vary with stage and type
• Owners and contractors often estimate
  differently
                  WBS
• The tasks needed to complete the project
• Tie WBS to risks
            High Level WBS
•   Planning
•   Pre-design
•   Design
•   Procurement
•   Construction
•   M&O
         Mid-level Pre-design
•   Survey
•   Soils
•   ROW
•   Environmental
•   Public
•   Other
           More Detail - Soils
•   Review Records
•   Schedule Drilling
•   Drill
•   Analysis
•   Report
          Finer Detail - Drill
• Costs
  – Labor
  – Equipment
  – Subcontract
• Schedule
  – Permits and approvals
  – Section A
  – Section B
  – Section C
                  And more
• Labor
  – Bare
  – Benefits
    • Vacation
  – Supervision
     Nomenclature - sometimes
•   Program
•   Project
•   Phase
•   Task
•   Sub-task
•   Work Packages
•   Etc.
    Project Selection Estimates

•    Usually based on conceptual design
•    Estimate of costs
•    Estimate of benefits
           Cost Estimating

• Economic analysis is future based.
• Costs and benefits in the future require
  estimating.
• Estimated costs are not known with
  certainty.
• The more accurate the estimate, the
  more reliable the decision.
   General Types of Estimates

• Rough - gut level, inaccurate -30% to
  +60%. AKA rough order of magnitude
  ROM
• Semi detailed - based on historical
  records, reasonably sophisticated and
  accurate -15% to +20%.
• Detailed - based on detailed
  specifications and cost models accuracy
  -3% to +5%.
         Estimates and Risk
• Purpose/Type
  – Planning
  – Owner’s Costs
    • Percentage vs. size
  – Design Stages
    • 10, 35, 65, 95%
  – Contractor’s Bid
  – Change Order
    • Contractor
    • Owner
            Estimating Models
    Model                 Explanation
Per Unit        Uses a “per unit” factor.
                $/sq ft, Benefits/employee
Segmenting      Divide problem into items,
                estimate each & sum.
Cost Indexes    Index number based on history.    US CPI

Power Sizing    Scaling previous known costs up
                or down.
Triangulation   Looking at costs from several
                perspectives.
Learning        Tracking cost improvements.
Curve
               Power Sizing
• Scales known costs for smaller or larger item
• For motors, 5-20 HP, X=0.69
• Bridges


                                        x
 Cost of equip. A  Size of A 
                            
                   Size of B 
 Cost of equip. B            
           Learning Curve
• Time required to complete a repetitive task
  decreases with number of tasks completed
• Often, when output doubles, the time
  required decreases by a fixed percentage
• Say 85%, 0.85
• Standard tables or historical for industry
• Tn = time for nth unit
• T1 = time for first unit
• n = number of units
  produced
• R = log learning
  rate/log 2



                       T  T1n r
                        n
Cost Risks
                  Costs
• For estimates, some costs can be
  considered
• Fixed
  – Davis-Bacon
• Variable
  – Fuel cost
             Some terms
• Common in estimating and contract
  negotiations
         Fixed, Variable and Total Costs

 Example 2-1
       Fixed Costs               Variable Costs
Bus Rental    $    80.00   Event Tickets $      12.50
Gas Expense $      75.00   Refreshments $        7.50
Other Fuels   $    20.00                                                                                Total costs
Bus Driver    $    50.00
Total FC      $ 225.00     Total VC        $      20.00                               $800.00
                                                                                      $600.00




                                                                           Cost ($)
                                                                                                                            Total cost
                                                                                      $400.00
                                                                                                                            Fixed cost
                People       Fixed cost    Variable cost     Total cost               $200.00
                  0        $      225.00   $         -     $      225.00                 $-
                  5        $      225.00   $     100.00    $      325.00
                                                                                                0   5      10     15   20
                  10       $      225.00   $     200.00    $      425.00
                  15       $      225.00   $     300.00    $      525.00                                 Volume
                  20       $      225.00   $     400.00    $      625.00
         Profit and Loss Terms

• Breakeven: total revenue = total costs
  – Just getting along
• Profit region: total revenue > total costs
  – Putting money in the bank
• Loss region: total revenue < total costs
  – Going into debt
                      Breakeven Charts
  Example 2-2
       Fixed Costs                Variable Costs                                  Ticket price
Bus Rental    $    80.00   Event Tickets $       12.50                             $     35.00
Gas Expense $      75.00   Refreshments $         7.50
Other Fuels   $    20.00
Bus Driver    $    50.00
Total FC      $ 225.00     Total VC                $       20.00




                People      Fixed cost             Variable cost     Total cost     Revenue          Profit    Region
                   0       $     225.00            $         -      $    225.00   $       -      $   (225.00)   Loss
                   5       $     225.00            $     100.00     $    325.00   $   175.00     $   (150.00)   Loss
                  10       $     225.00            $     200.00     $    425.00   $   350.00     $    (75.00)   Loss
                  15       $     225.00            $     300.00     $    525.00   $   525.00     $         -  Breakeven
                  20       $     225.00            $     400.00     $    625.00   $   700.00     $     75.00    Profit
                  25       $     225.00            $     500.00     $    725.00   $   875.00     $    150.00    Profit
                  30       $     225.00            $     600.00     $    825.00   $ 1,050.00     $    225.00    Profit
                  35       $     225.00            $     700.00     $    925.00   $ 1,225.00     $    300.00    Profit
                  40       $     225.00            $     800.00     $ 1,025.00    $ 1,400.00     $    375.00    Profit

                                                   Profit-loss breakeven chart

                                         $1,500.00
                                                                                            Total cost
                              Cost ($)




                                         $1,000.00
                                                                                            Fixed cost
                                          $500.00
                                                                                            Revenue
                                              $-
                                                       0   5 10 15 20 25 30 35 40
                                                                   Volume
        Past (Sunk) Costs and
      Future (Opportunity) Costs
• Sunk cost - money spent due to a past decision.
  We cannot do anything about these costs.
  – Purchase price paid for a car two years ago.
• Opportunity cost - a benefit that is foregone by
  engaging a resource in a chosen activity instead
  of engaging that same resource in some forgone
  activity. We make a choice or decision.
  – Buying lunch instead of gas.
• A distributor of electric pumps bought a lot
  of pumps three years ago. Technology
  advanced and the pumps are less
  desirable to customers. The pumps are
  steadily getting less valuable.
       Which amount is the value at
               present?
Price when purchased                             $ 7,000.00
Storage costs                                    $ 1,000.00
List price when purchased                        $ 9,500.00
Current list price of new pumps                  $ 12,000.00
Amount offered for pumps 2 years ago             $ 5,000.00
Current price that the pumps could be sold for   $ 3,000.00
                Expense Types

• Recurring expense - anticipated and occur at
  regular intervals.
    – Purchasing food, paying rent.
• Non-recurring expense - one-of-a-kind event
  that occurs at an irregular interval.
    – Illness, accident, death.

Sometimes we attempt to plan for large non-recurring costs
by buying insurance. Paying the periodic insurance
premium turns this expense into a recurring cost.
                  Incremental Costs

• An incremental cost is the difference between
  the costs of two alternatives.

  Example 2-4
                                                          Costs
                                                Model                 Incremental
   Cost Items                               A               B            (B-A)
   Purchase price                     $   10,000.00   $   17,500.00   $ 7,500.00
   Installation costs                 $    3,500.00   $    5,000.00   $ 1,500.00
   Annual maintenance costs           $    2,500.00   $      750.00   $ (1,750.00)
   Annual utility expenses            $    1,200.00   $    2,000.00   $    800.00
   Disposal costs after useful life   $      700.00   $      500.00   $ (200.00)
        Cash vs. Book Costs
• Cash costs - movement of money from
  one owner to another - also known as a
  cash flow.
  – Payment this month on an auto loan.
• Book cost - cost of a past transaction
  that is recorded in a book.
  – Down payment recorded in your
    checkbook from last years automobile
    purchase.
• Book Value
           Life-cycle Costs

• Life-cycle - all the time from conception
  to death of a product (process).
• Life-cycle costs - sum total of all the
  costs incurred during the life cycle.
• Life-cycle costing - designing with an
  understanding of all the costs
  associated with a product during it’s life-
  cycle.
          Estimates vary
• Many types
• By project contracting plan
  –   Traditional
  –   Design-construct
  –   Turnkey
  –   Fast-track
  –   Owner’s forces
• By contract type
  –   Lump sum (AKA hard dollar)
  –   Cost plus
  –   Cost reimbursable (fixed fee)
  –   Unit price
• Contractor’s Organization
  – No sub-contractors
  – All sub-contractors
• Labor Force
  –   Union (closed shop)
  –   Non-union (open shop)
  –   Mixed
  –   (Double-breasted)
  –   Local vs. Expat (expatriate)
• Who’s doing the estimate?
  – Owner
  – A/E
  – Contractor
  – Subcontractor
  – Government
  – Consultant
       When (what phase)
•   Concept
•   A/E
         Components
•   15%, 35%, 65%, 95%
•        Is the budget fixed?
•                 Cast in concrete
•   Contactor’s Bid
•   Post bid negotiations
•         Usually non-government
•   Changes
Non-construction Estimates
Owners estimate of owners expenses
      Contract administration
      Insurance
      Lost or interrupted work
      Permits and fees
      Housing and travel
  DOT?
A/E estimate of A/E’s expenses

(Contract type)
Hours
Other expenses
   Sub-consultants
         Soils
Travel
Construction phase?
         Inspection
         Testing
 Engineering Design Estimates
• Selecting materials
     Insulation thickness
     Heat loss
     Fuel expense
• Design life
• Economic analysis
• Careful with “free money”
     Never call it that
       Contractor’s Estimate
• Project costs
  – Those that would not occur without the project
• Overhead/Home office/Indirect
  – Would occur as long as contractor has some
    work – stays in business
           Types of estimate
• Guess
• Educated guess
• SWAG
      With or without lanyap
•   Historical, similar project
•   Historical, unit prices
•   Estimating guides
•   Crew size and production rate
   WBS, Contractor’s Estimate
• Estimate by tasks
• Crews and duration, schedule
  – Equipment
• Job Overhead
  – Job duration, schedule
• HOOH and Profit
  – Contingency
• Break down into unit prices
  – More contingency to risky tasks?
             Cost Items
•   Labor
•   Supervision, project office
•   Installed Materials and Equipment
•   Operating Equipment
•   Supplies and Consumables
Operating Equipment
  – Capital cost
  – Operation costs
  – Fuel
  – Permits
  – Insurance
  – Operator?
  – Mechanics?
Steps in contactor’s estimating
           process
            Preliminary
•    Get resources to bid the job
•    Decide if you will bid
•    Get plans, get on bidders list
•    Engineer’s estimate reasonable
•    Broad brush estimate, schedule
•    Subcontracting strategy
•    Consider your resources
  • Call your bonding company
•    Do you still want to bid?
Attend the pre-bid meeting!
                Estimate
•   Manager allocates work
•   Be sure subs will bid
•   Take off major installed equipment
         Check delivery times
                Barge schedules
         Schedule for quote
         Check delivery options, FOB
•   Take off quantities
•   Special matters
•        Pre-bid fly over
•        Hire consultants
•        Do your own borings?
          Historical unit prices

•     Escalate?
•     CPI, ENR
    – Felix work
         Fig. 2: AK Highway CCI vs. Anchorage CPI-U for the
           period 1974 to 1983 (normalized to 1982-84=100)


160
150
140                        Average Rate of Inflation 1974-
130                        1986: 8.0%                                             AK Highway
120                                                                               CCI
110
100                                                                               Anchorage
 90                                                                               CPI
 80
 70                                                                               Linear
 60                                                                               (Anchorage
                           Average Rate of inflation 1974-
 50                                                                               CPI)
                           1986: 8.2%
 40                                                                               Linear (AK
      1974

             1975

                    1976

                               1977

                                       1978

                                              1979

                                                     1980

                                                             1981

                                                                    1982

                                                                           1983
                                                                                  Highway CCI)


                                      Dates
             Fig. 5: Alaska HCCI vs. California HCCI

190
180
170
160
150                                                                                                     Alaska Highway CCI
140
130
120                                                                                                     California Highway CCI
110
100                                                                                                     Linear (Alaska Highway
 90
 80                                                                                                     CCI)
 70                                                                                                     Linear (California Highway
 60                                                                                                     CCI)
 50
 40
      1974
             1976
                    1978
                           1980
                                  1982
                                         1984
                                                1986
                                                       1988
                                                              1990
                                                                     1992
                                                                            1994
                                                                                   1996
                                                                                          1998
                                                                                                 2000

                                                Dates
       Fig. 6: Alaska HCCI vs. ENR
        Construction Cost Index

190                      7,000
180
170                      6,000
160
150                      5,000
140
130                      4,000
                                 Alaska Highway CCI
120
110                      3,000
100                              ENR Construction Cost
 90                              Index
 80                      2,000
 70
 60                      1,000
 50
 40                      0
      1974
      1976
      1978
      1980
      1982
      1984
      1986
      1988
      1990
      1992
      1994
      1996
      1998
      2000




         Dates
           Estimating guides
  Production rate
     See next
  Unit Price
     Read the front!
     Factors
Crew size and production rate
  Size crew and supervision
  Equipment
               All methods

•   Is production rate average or high?
•   Where do you put you operating factor?
•   Read the front!
•   Check contract for delays, risk
•   Liquidated damages
•   Experience with owner, location, etc.
    Do you still want to bid??!!
• If so, secure bonding and financing
• Prepare bid documents with prices blank
• Check subs and major suppliers again?
•    When, to the minute, will they give you the
          price?
•    How?
•
• Develop plan for bid delivery.
•    Communications
•    Time
               Post bid

•   Protest?
•   Negotiations
•        Intelligence?
•   When is a deal a deal?
           Plan for changes
•   Pre-job photos and videos
•   Documenting changes
•   Know the contract
•   Document everything
                      Ethics
• Never lie, cheat, or participate in any dishonest
  act
• Admit your mistakes forthrightly, if they are
  mistakes
• More often, just state the facts, without blaming
    anyone, yourself included
• Don’t “trade on the specifications” unless it is in
  writing
• Nothing unethical about asking for what you
  have coming!
• Or demanding, if the situation warrants it.
        A little on:
Risks and Change Orders
   Overhead and Profit
      Changes are inevitable
• Differing site conditions
• User changes
• Design errors
  – “Contract documents are an imperfect
    expression of the design professional’s and
    owner’s intent for the project.”
• Value engineering
• Third parties
• Deductive
          Pricing Changes
–   Unit price within limits
–   Unit price over limits
–   T&M or Force Account
–   Gold book method
–   FARs
                      Types
–       Directed Change, only argue about money
–       Constructive change
    •      Owner directs but feels it is included in the
           original contract
–       Cardinal Change, essentially breach by the owner
    •      Owner mandates work outside the scope
    •      Owner directs multiple or drastic changes so
           work is materially different.
–       Cumulative and Impact
    •      Usually claim
•   “A cumulative impact of change orders
    occurs when “the issuance of an
    unreasonable number [or unusual kind]
    of change orders creates a synergistic
    disruptive impact such that the total
    disruption caused by the changes
    exceed the sum of the disruptive impacts
    caused by the individual changes when
    looked at independently.”
Five elements are necessary to provide sufficient
 burden of proof for a cumulative impact claim
 –   A significantly large number of change or
     disruptive events
 –   The changes or events have an impact on
     productivity (performance time and efficiency)
 –   The impact flow from the synergy of the number
     and scope of changes;
 –   The contractor was unable at the time of pricing of
     each change or event or directive to foresee the
     ripple-type effect of the multiplicity of change and
     events; and
 –   The contractor did not knowingly waive the right to
     assert cumulative impact claims when negotiating
     changes
            Foreseeability
• “This change represents full and complete
  compensation for all direct costs and time
  required to perform the work set forth
  herein, plus the overhead and profit as
  provided for in the Change clause in this
  contract. The contractor hereby reserves
  the right to submit a request for equitable
  adjustment for all costs resulting form the
  impact of this change on unchanged
  contract work. “
             Risks to Owner
• Direct Change
• Ignore Change
  – “Just do what the plans say.”
       – Interest
       – Legal (?)
       – Contractor refusal

• Risks from T&M
        Risks in Change Orders
•   All risks belong to owner unless
    transferred to contractor
    •        Base contract did that and is the reference point
•   Delays to public
    •        Unit Time Value
    •        For highways this is the Daily Road-User Cost
         –     No standard computation
         –     Operating costs plus time delay.
     Constructive Changes
No control over, four categories:
     –   Disagreement over meaning of contract
         » Owner’s interpretation different, contractor must
             comply or risk default termination
     –   Defective specifications
         » Poor or misleading information
     –   Constructive acceleration
         » Owner fails to acknowledge excusable delays
     –   Failure of owner to cooperate
         » Other contractors not performing
•       T&M
    –     Bear all cost and schedule risks
    –     May be OK for small, separable change
•       Will not get rid of DSC risk
              Risk to Contractor

•       See next
•       Personnel
    –     Hunting season
•       Bonding and HOOH
•       Market conditions
•       Schedule
•       Alaska
•       Unknowns
    –     Probability increases with complexity and
          unfamiliarity.
                     Disruption
              Inefficiency due to CO
•       Increased frequency of planning and replanning
•       Loss of efficiency due to interruption, interference,
        and lack of availably of tools, labor, and materials to
        meet changed requirements
•       Increase project management and supervision
        involvement
    –     Shirt collar
•       Loss of efficiency due to a ripple impact that is a
        direct result of change orders, such as stacking of
        trades, schedule compression, and out-of-sequence
        work.
•       Difficulty in determining equitable adjustment
        compensation for parties REF 6
•   Estimating Changes
    – Unit price
    – Force Account
    – Forward Price
•   Acceleration, Delays, Impacts, etc.
    – Estimating for Forward Pricing
    – Critical Path
    – Other Issues
                   Profit
• Once job/project costs have been
  estimated, contractor must add “profit”
• The profit line usually contains
  – Home office overhead (HOOH)
  – Contingency
  – Profit
                   HOOH
• All costs not directly attributable to job
• AKA “indirects”
               Contingency
• This is for the project
• Might be imbedded in cost items
  – “conservative” vs.
  – “neat”
• Or be in both places
                     Profit
• Return on Investment
• What is business worth?
  – Garage sale
  – Good will
• Would compare ROI with other, similar,
  businesses
  – With similar risks
         Standards, Variables
•   Divide Costs into
•   Labor, which includes burden
•   Materials
•   Equipment
•   Subcontracting
•   Field Office Expense
                         Risk – Variable
Labor, which      High
includes burden
Materials                                  Low
Equipment                   Med
Subcontracting                             Low
Field Office                Med
Expense
Contractor       Overhead and Profit Allocation
1                15-25%           A+B+C+D
2                8%               A+B+C+D+E
3                8%               A+B+C+D+E        Or
                 35%-40%          A+C              greater
4                4-6%                A+B+C+D+E Or
                 10%                 Total Labor   greater
5                15%                 A+B+C+D+E
6                50%                 Total Labor
7                8-20%               A+B+C+D+E Or
                 40%-100%            Total Labor
8                15%                 A+B+C+D+E
A=Direct Labor, Excluding Field Office Staff; B=Materials Cost;
C=Equipment Cost D=Subcontracting; E=Field Office Expenses
Total Labor includes all direct and indirect labor
            Allowable change order markups
            California Major Owners 1992


                     Materials Equipment Bond                 Subs      Labor
             Labo                                                       Burde
             r                                                          n
1            20   15               15             1           15        Actual
Typical      33      15            15             0           5         29
Several      20      15            15             0           0         29/Act
                                                                        ual
    In general the markup included field staff and small tools and
    supplies up to $200.
    Remarkably, the same percentages were uses if the lump sum was
    negotiated, or if a force account (time and material) method were
    used.
                   Corps / GSA
• Old manual
• Uses 15% G&A
• Variable profit, 3.6% to 13.2% depending on
  risks
• Risk factors:
  –   “Degree of risk”
  –   Relative difficulty
  –   Size (smaller, larger)
  –   Period of performance (longer, larger risk)
  –   Subcontracting (more, smaller risk)
• Profit + G&A = 18.6% to 28.2%
      DOT Change Order Profit
•   Assumed mix of cost types
•   AK 24%
•   Colorado 41%
•   Florida 17.5%
•   Indiana 20.7%
•   Ohio 25.7%

				
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