Learning Objectives

Earn up to12 CPE Credits
Course Level - Intermediate
 

In this conference, along with our featured guest presenters, we will be exploring the pros and cons of different construction contract language concepts, procurement approaches, project cost controls, and construction audit techniques. Learning points will be provided with examples.

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Attendees will have the opportunity to interact with our featured guest presenters, our conference facilitators, and other participants on a wide variety of construction cost control and audit best practices such as the following:

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Our featured guest presenters with be discussing their greatest challenges and their best practice solutions for managing and auditing CMAR and/or Design-Build construction contracts.  Some topics to be covered include: 

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• How Owners, Contractors, and Construction Auditors “partner” to achieve common goals for project success.

• How to adequately address potential “hidden fees” when requesting proposals and/or negotiating contract terms.

• How to work with your contractors so that both parties are treated fairly during contract negotiations.

• How to develop fair and balanced contracting practices to help get the best value for amounts spent on construction.

• How to audit contractor records to prevent, detect and/or resolve potential overcharges on labor, materials, equipment, insurance, and subcontracts

• How to effectively deal with the impact of possible material cost escalation and de-escalation resulting from any new tariffs being added and/or subsequently lifted on imported materials.

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Learning Objectives Include Best Practices for Managing and Auditing related to the following common contracting challenges:

   (a) conventional insurance.

   (b) self-insurance.

   (c) captive insurance.

   (d) contractor-controlled insurance (CCIP).

   (e) subcontractor default insurance (SDI).

   (f) contractor self-performed work.

   (g) contractor costs of pension plans.

   (h) costs of employee stock pension/bonus plans.

   (i) costs of conventional health insurance.

   (j) costs of high-deductible insurance policies.

   (k) contractor owned equipment charges.

   (l) trade subcontracts and trade subcontract change orders.

   (m) contractor and subcontractor charges from affiliated companies.

   (n) contractor and subcontractor labor charges.

   (o) trade contractor shop fabrication and shop overhead charges.

   (p) contractor and subcontractor charges for IT hardware and software.

   (q) pros and cons of converting cost-plus fee with GMP contracts to Lump Sum.

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Our Featured Guest Presenters will be making short presentations followed by time for interactive Q&A.

In addition, our conference hosts and facilitators will facilitate roundtable open discussions on other questions and topics of interest to the attendees. ​

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Who Will Benefit From This Program:

• Owner Architect team members

• Owner Inside Counsel and Outside Counsel

• Owner CFO’s and Controllers

• Owner Construction Audit Consultants and Internal Auditors

• Construction and Engineering Department Representatives

• Owner Construction Contract Administrators

• Owner Cost Engineers

• Owner Facilities Management Department Representatives

• Owner Procurement Department Representatives

• Owner Program Managers

• Owner Inspectors

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Participants Will:

• Learn the latest best practices in use for construction audit and cost control

• Obtain an update on the trends in tools and techniques used for construction cost control and audit

• Explore specific case example results to illustrate major learning points

• Get your questions answered during Q&A sessions at the conclusion of each presentation​​

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All participants are eligible to receive up to 12 Continuing Education Credits (CPE’s) to fulfill professional accreditation requirements.  Participants will receive 1 CPE credit for every 50 minutes in attendance.  Field of Study: Finance-Technical. Course Level: Basic. Group-Live, lecture-style seminar; no prerequisites or advanced preparation required. For information regarding CPE, complaint, or program cancellation, please contact:   Ashley Humphries (214-551-4942) ashley.humphries@rltownsend.com or Rich Townsend (972-679-6762) rltownsend@rltownsend.com.