This Online Webinar is approved for 1.5 CPD Credits.
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This topic is designed for both new and experienced contract professionals. It explains the fundamentals of fixed price and cost-plus contracts, which dominate the field of project delivery methods. We will explore the incentives, risks, and administration-specifics associated with each type. We then will examine how these methods enable collusion, kickbacks, and fraud, and we will engage in a short case study of well-known projects demonstrating these issues. The topic will provide advice and practice considerations for avoiding these pitfalls.
The primary objective of this topic is to provide contract professionals with a competent understanding of these project delivery methods, their implications, and the current legal landscape, all to help better carry out their projects.
- You will be able to describe the fundamental characteristics of fixed price and cost-plus project delivery methods and their common variations.
- You will be able to identify methods to avoid and mitigate such risks on your own projects.
- You will be able to recognize the modern legal landscape surrounding the construction industry and the risk of fraud and collusion.
- You will be able to explain the differences in administering both fixed price and cost-plus contracts.
Carol A. Sigmond
Cohen Seglias Pallas Greenhall & Furman PC.