The first post in this series addressed the Triage Assessment ProcessTM. This post delves into the critical topic of assembling the team of players that possess the appropriate skills to reverse the project’s course.
You receive the call over a weekend. Your company’s chief financial officer says that she needs your help to assess the causes of excessive cost-overruns and delays occurring right now on your project in Florida.
The project was to be the crown jewel of the company’s portfolio: a mixed-use retail-office-residential property, two hotels, and the company’s new corporate offices near the dense, urban landscape of a thriving Central Florida city. The contract between the Owner and Contractor was fixed price, with a liquidated damages clause of $15,000.00 per day. The Project budget is $200 million and Opening Day is to occur in six months, in time for the grand opening scheduled for Thanksgiving Day weekend. You have a troubled project!
Now what? The CCA Group triages the project and creates a recovery plan.