2A — August 23 - September 12, 2019 — M id A tlantic
Real Estate Journal
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M id A tlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist..... .................................Karen Vachon Office Manager ...............................................Kerrin Devine Contributing Columnist .....................................Doug Haines, Haines Security Solutions; Michael Mullin, Integrated Business Systems; Donald Richardson, EWMA Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 31, Issue 16 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 | Fax: 781-740-2929 www.marej.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
M id A tlantic Real Estate Journal
Donald Richardson
Environmental Remediation: Expense vs. Investment A n environmental re- mediation project can be challenging to track and quantify. Site cleanup is a key part of the contaminated land redevelopment process, but unlike the plot of land or the new construction itself, the results of the cleanup and the return on investment (ROI) of cleanup are not always clear- cut as a success story. Especial- ly when costs are not capped at the outset of the project it can be difficult to even begin remediation. Understandably, stakehold- ers want to know exactly what is being paid for when they receive an invoice from their environmental remediation company. After spending sig- nificant sums on a remediation project, what exactly did their money get them? To ensure that all parties involved under- stand the bang for their buck, it’s important to continually
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quantify what is happening, even when the results cannot always be seen or touched. Why is it so difficult to quantify an environmental remediation project? Environmental remedia- tion clients find themselves in a position where they must constantly justify the often- unpredictable costs attached to the project. (This is espe- cially true if the client is not using a fixed-price program such as EWMA’s SECUR-IT). Value must be demonstrated to multiple parties on an ongoing
basis. However, when so much work is conducted out of sight beneath the earth’s surface, it can be difficult to show a stakeholder what their money bought them, or even to justify the hefty price tag altogether. Take a soil cleanup, for ex- ample. Hauling away con- taminated materials can be observed, and the moment the trucks arrive is an easy bench- mark to hit. A certain dollar figure was spent to hire crew and equipment to dig up the contaminated material, and continued on page 18A
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