ComplianceOnline

Practical Problems Pricing Delay Using Eichleay

Instructor: Jim Zack
Product ID: 704590
  • Duration: 90 Min
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Read Frequently Asked Questions

This training program will deal directly with the issues and problems with using the Eichleay Formula. The presentation will offer multiple alternatives concerning the pricing of home office overhead which owners may employ in their contract documents. The session will provide attendees with a better understanding of the Eichleay Formula including its weaknesses and flaws from the perspectives of the accountant/auditor, the contractor and the owner.

Why Should You Attend:

Since 1960 the Eichleay Formula has been used to price extended and/or unabsorbed home office overhead. Most in the construction industry treat the Eichleay Formula as an accounting mechanism – seldom understanding that the Armed Services Board of Contract Appeals created this formula as an estimating tool, not an accounting method. There are some practical problems with the Eichleay Formula. From the accounting perspective there are several major flaws built into the formula. From the project owner’s perspective, there is a risk of overcompensation unless certain contractual defenses are employed. And, from the contractor’s perspective, there are issues with the applicability and the use of the formula.

This webinar training will examine the traditional Eichleay Formula from all three viewpoints to identify the problems and offer some recommendations on how to alleviate them. The session will offer attendees 19 different alternatives to the Eichleay Formula which may be employed through incorporation in the contract documents prior to bidding.

Areas Covered in the Webinar:

  • The elements of home office overhead (HOOH)
  • How HOOH is typically recovered
  • What is the Eichleay Formula?
  • How the Eichleay Formula operates
  • History of the formula
  • Potential problems with using the Eichleay Formula to price delay from the viewpoint of the accountant/auditor, the owner and the contractor
  • Potential remedies including some ways to prohibit recovery
    • Ways to change the rules concerning HOOH recovery
    • Creation of a mid-course HOOH recovery method
    • Bid daily delay cost

Who Will Benefit:

  • Project owners about to embark on a new project
  • Legal counsel for owners looking for alternatives to the Eichleay Formula
  • Design professionals involved in preparation of bidding documents
  • Construction managers involved in the preparation and administration of contract documents
  • Contractors
Instructor Profiles:
Jim Zack

James G. Zack, Jr,CFCC, CCM, FAACE, FFA, FRICS, PMP
Founder, Navigant Consulting Inc

With 45 years’ experience Jim Zack is the Senior Advisor to, Founder and former Executive Director of the Navigant Construction Forum™ – the construction industry’s global resource for thought leadership and best practices on avoidance and resolution of construction project disputes globally. Formerly, Executive Director, Corporate Claims Management for Fluor Corporation, a $24 billion/year EPC with offices and projects worldwide. Prior to this, Vice President of PinnacleOne and Executive Director, PinnacleOne Institute and a Senior Construction Claims Consultant with CH2M HILL, Inc. With 45 years’ experience working on construction projects he is a recognized expert in mitigation, analysis and resolution or defense of construction claims. Mr. Zack has made construction claims presentations and been involved with claims throughout the United States and in 28 countries abroad. He has been involved in more than 5,000 claims and has been designated as an expert witness in mediation, arbitration and litigation.

Mr. Zack is a Fellow of AACE International, the Royal Institution of Chartered Surveyors (RICS) and the International Guild of Project Controls. Mr. Zack is a Certified Forensic Claims Consultant, a Certified Construction Manager and a Project Management Professional. Mr. Zack is a nationally known author, speaker and trainer concerning the management, mitigation and resolution of construction claims on public works projects.

David W. Halligan

David W. Halligan,PhD, P.E.
Associate Director, Navigant Consulting Inc

Dr. Halligan is an Associate Director in the Global Construction Practice of Navigant Consulting Inc. He has twenty five years of experience providing clients with schedule delay analyses, construction management, project controls, and claims resolution assistance on a wide variety of heavy civil and facilities projects. Dr. Halligan has testified in Federal and State Court as an expert in construction delay. He has performed schedule and labor productivity analyses on significant assignments, including tunneling, underground pipe installation, transportation projects, residential projects, commercial projects, water and wastewater treatment facilities, pipelines, military and high-tech facilities, correctional facilities, dams, and high rise office buildings.

Prior to joining Navigant Consulting Inc., Dr. Halligan was employed by a major engineering and construction firm where he was involved in the construction management of nearly $500 million in projects. He has been a lecturer at the Construction Engineering and Management Program at the University of California, Berkeley.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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