Hotel FFE procurement owner risk, and who carries the operating supplies
Hotel FFE procurement owner risk sits in three budgets that never meet: the construction contract, the operator specification and the pre opening account.
Procurement and buyout
What is bought, what is still an estimate, and the dates behind the long lead items.
What this covers
The questions in this category
- What the buyout gap tells you
- Long lead items and release dates
- Packages still missing at signature
- Award dates already passed
- Estimated against awarded work
- Reporting buyout monthly
Published
11 pieces
Missing procurement packages in a GMP, counted at signature
Missing procurement packages in a GMP are the part of the price that has not been tested yet, and counting them takes one document and twenty minutes.
The GMP buyout process, and what the buyout gap tells you
The GMP buyout process turns estimates into subcontracts one package at a time, and the gap between the two is the clearest signal a project gives.
Trade contractor default on a GMP, and what reaches the owner
Trade contractor default is contractor risk, until the replacement costs more than the bond pays. What reaches the owner, and what to check before you sign.
Long lead items and the construction schedule date behind the date
Long lead items on a construction schedule carry a release date months before the install date. Miss it and the completion date moves on its own.
A construction substitution request, and who benefits from it
A construction substitution request after award changes the product and rarely changes the price. Three questions that decide whether to accept one.
A sole source specification, and the competition it quietly removes
A sole source specification names one manufacturer and removes the competition behind that package. When it is justified, and what it costs when it is not.
Construction bid leveling an owner can check in an afternoon
Construction bid leveling decides which trade price is really lowest. Six checks an owner can run on a leveling sheet without pricing any of the work.
Construction buyout savings, and who actually keeps them
Construction buyout savings are real money created early in a job. Four clauses decide where they go, and most owners read none of them before signing.
Construction tariff risk, and the packages that carry it
Construction tariff risk is a step change rather than a trend, which is why no escalation index catches it. Which packages carry it, and how to bound it.
A construction escalation clause, and the risk it moves back
A construction escalation clause looks like a small qualification on a price. It is an open exposure with no ceiling unless one is agreed before signature.
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