Current Practices in the Development of Guaranteed Maximum Price (GMP) Contracts

Author:

Ogundare Tolulope I.11234,Kassa Rebecca11234,Maali Omar11234,Lines Brian11234,Smithwick Jake11234,Sullivan Kenneth11234

Affiliation:

1. Ph.D. Student, Dept. of Civil, Environmental, and Architectural Engineering, Univ. of Kansas, Lawrence, KS.

2. Senior Project Engineer, Municipal Services and Operations, City of Lawrence, KS.

3. Associate Professor, Dept. of Civil, Environmental, and Architectural Engineering, Univ. of Kansas, Lawrence, KS.

4. Associate Professor, Dept. of Engineering Technology and Construction Management, Univ. of North Carolina at Charlotte, NC.

Publisher

American Society of Civil Engineers

Reference13 articles.

1. Anvuur, A. M., and Kumaraswamy, M. M. (2010). Promises, Pitfalls and Shortfalls of the Guaranteed Maximum Price Approach: A Comparative Case Study. In: Egbu, C. (Ed.), 26th Annual ARCOM Conference, Leeds. Association of Researchers in Construction Management, Vol. 2, pp.1079–88.

2. AGC (Associated General Contractors). (2023). 2023 Construction Outlook National Survey Results. Retrieved from: 2023_Outlook_National_V3.pdf.

3. ENR (Engineering News-Record). (2023). 2023 1Q Cost Report: Materials Costs Remained Elevated Overall at Year’s End. Retrieved from: https://www.enr.com/articles/56182-2023-1q-cost-report-materials-costs-remained-elevated-overall-at-years-end.

4. Bearup W. Kenig M. and O’Donnell J. (2007). “Alternative Delivery Methods a Primer” Proceedings Airport Board Members and Commissioners Annual Conference Airports Council International - North America Chicago IL pp. 78–82 2007.

5. The Guaranteed Maximum Price Contract as Call Option;Boukendour S.;Construction Management and Economics,2001

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