March 24, 2020
Engineering and construction companies operate in a complex and interconnected global landscape. Over the last few years, the industry has been impacted by geopolitical shocks that have cascading effects on highly relevant issues such as the availability of labor, supplies, and financing. Enter COVID-19. Now, geopolitical analysis – the comprehensive examination of the political economic, social, and environmental factors that can affect the outcome of a construction project – is a necessary element of project feasibility. We offer a multi-disciplinary approach that global construction and engineering companies use to anticipate unexpected events and estimate their probable values.
Industries across the globe are bracing for impact from the COVID-19 pandemic, and the construction industry is no different. Contractors are facing their own set of unique risks that need to be addressed and mitigated including project delays and cost escalation on current capital projects.
Ask yourself the following questions as you consider potential impacts to your projects and your business:
- Have you begun to incur potential schedule delays that may arise from the current COVID-19 pandemic and are you prepared to properly and accurately prepare a request for equitable adjustment and/or claim for those delays?
- Will the shortage of labor, materials and potentially quarantined or delayed shipment of materials impact the schedule and/or cost of your project?
- Are you prepared to determine the direct impact of COVID-19 delay and cost to ensure your change order requests and/or claims are accurate and defensible if challenged?
How We Can Help:
Our Construction Disputes & Advisory experts provide rigorous analysis of complex issues and quantify the impact on a project’s schedule and overall costs based on independent and fact-based analyses. Our findings are delivered in a clear and concise manner and when required, presented through experienced testimony before tribunals around the world.
We provide contractors the ability to identify and mitigate the risks during the planning and execution phases of a capital project. Ankura also supports contractors when a situation requires independent analyses to quantify the impacts to schedule and/or costs when mandated by contract or in the event of a dispute.
Key areas for consideration to engage Ankura’s Construction Disputes & Advisory teams are:
Determine discrete delays along a project’s critical path and assign responsibility for each independent delay.
Value construction works and analyze complex construction claims and variations.
Analyze project documentation and records to assert or rebut damage calculations.
Professional Liability and Defective Construction
Analyze the performance of the design and construction teams relating to design completeness, accuracy and coordination and address the responsibility for defective construction.
Support the quantification and documentation of complex insurance claims including time element (i.e., loss of income, loss of rents), “soft costs” and property damage losses.
The Ankura Difference
Our 200+ Construction industry professionals combine real-world industry experience, robust credentials, and technical expertise in finance, accounting, architecture, engineering, real estate, critical path method scheduling, program and project analysis, and construction management.
For more on Ankura’s construction services and experts, please visit: www.ankura.com/construction