This virtual seminar will be held over two days (4 hours per day). This highly engaging virtual learning experience will include case examples and related interactive discussions to illustrate key learning points. Attendees will learn “how-to” effectively achieve construction contract cost avoidance and/or cost recovery results. Earn 8 CPE Credits
Who Can Benefit From This Virtual Seminar
Owner organization representatives who are responsible for oversight of construction contract activity:
- Internal auditors or external auditors
- Program managers or project managers
- Procurement specialists
- Internal or external legal representatives
- Bond oversight managers
- Chief Financial Officers or Controllers
Types of Construction Contracts Covered
The course will emphasize effective construction cost control techniques for projects involving the use of the following types of construction contracts:
- Construction Manager at Risk-Cost Plus Fee with Guaranteed Maximum Price (GMP) contracts
- Design-Build – Cost Plus Fee with GMP contracts
- Cost plus FEE contracts with General Contractors (with or without a GMP)
- Cost Plus FEE contracts with major subcontractors/trade subcontracts (with or without a GMP)
- Cost Reimbursable or Target Price Contracts
- Lump sum and/or Unit Price trade subcontracts or prime construction contracts
Attendees will learn specific techniques to achieve effective construction cost avoidance and/or cost recoveries by understanding the pros and cons of:
- Lump sum pre-construction services versus cost reimbursable pre-construction services
- Pre-established labor billing rates versus reimbursement of actual wages and verifiable labor burden
- Lump sum general conditions versus cost reimbursable general conditions
- Lump sum self-performed contractor work versus cost plus fee with GMP for self-performed contractor work
- Converting GMP contracts to lump sum contracts
- Supported payment applications versus percentage of completion payment applications
- Pre-agreed labor burden percentages versus reimbursement for actual defined labor burden costs
- Bonding both the prime contractor and the subcontractors
- Subcontractor default insurance (SDI) versus conventional performance and payment bonds for subcontractors
- Reimbursing the Contractor for bonds and general liability insurance or have it covered by Fee
- Worker’s Compensation and General Liability Insurance – Conventional insurance versus Contractor Controlled Insurance Programs (CCIP)
- Worker’s Compensation and General Liability Insurance – Conventional insurance versus Owner Controlled Insurance Programs (OCIP)
- Savings Sharing clauses versus no savings sharing clauses
Additional Discussion Specifics
- Time is built-in to the seminar to answer questions from attendees and obtain feedback from the entire group
- Interactive discussions of specific cases will be used to reinforce learning points and share best practices
- How to effectively implement cost avoidance contracting techniques
- Specific examples of cost avoidance and cost recovery cases will be discussed throughout the seminar to illustrate key learning points.
Program Materials and Format
Prior to the event, participants will be provided a file to download and print course materials. In order to participate in the seminar using our Zoom meeting platform, you will need to use both your PC camera and microphone for optimal learning experience. Attendees who are on-line and participating throughout both days of the session will be eligible to receive up to 8 CPE credits.
Seminar Registration Fee = $495 (Payable by credit card when registering)
Tuesday, March 30, 2021: 10:00 am – 2:00 pm Central Time
Wednesday, March 31, 2021: 10:00 am – 2:00 pm Central Time
Each hour will include a short break.
Cancellation and Refund
If you register for a virtual training and are unable to attend, please notify us by email and we will apply your credit toward any future training. For information regarding refund, concerns and/or program cancellation policies please contact Marie Jones at 254-736-0309 or email firstname.lastname@example.org
All participants are eligible to receive up to 8 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: Auditing. Course Level: Basic. Group-live, lecture-style seminar; no prerequisites or advanced preparation required. For information regarding CPE, complaint, or program cancellation, please contact Marie Jones at 254-736-0309 or Rich Townsend at 972-679-6762 or email email@example.com.
Construction Audit & Cost Control Institute (CAACCI) is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Rich Townsend is a principal of the consulting firm R. L. Townsend & Associates, LLC, which provides construction audit and construction cost control consulting services to Owners.
Since 1985, Mr. Townsend has been the instructor for the seminar entitled “Controlling Construction Costs” and “Effective Auditing of Construction Activity” sponsored by Courtenay Thompson & Associates. He has also instructed in-house seminars related to construction contract audit and construction cost control for a wide variety of organizations and industries throughout the United States and Canada.
Mr. Townsend is a Certified Internal Auditor (CIA), a Certified Public Accountant (CPA), and Certified Construction Auditor (CCA). He currently serves on the advisory board for The National Association of Construction Auditors.
He is a graduate of Waynesburg College (Waynesburg, Pennsylvania) where he obtained a Bachelor of Science Degree with a major in accounting.
Reviews from Seminar Participants
“Glad we could attend. I sent my group of 6 to this and it was very helpful.”
“Great real-world experience to apply to the learning material.”
“Thank you for a great session!”
“I’m going to suggest our future contracts to include the change order pricing wording you presented. Thanks as always for a great and informative seminar.”
“The class was great! Especially since I had my new staff attend.”
“The virtual option is nice to save time and money.”
“Contained a lot of good information.”
“Expanded version of this would be great. Although, I would take this one again.”
Register Using the Form Below
Regular Seminar Registration Fee = $495.00 (Payable with credit card upon registering)
To Register by Telephone: Call Marie Jones at (254) 736-0309
NOTE: Your registration confirmation will be emailed to you a few minutes after you register.
If you do not see it in your Inbox, check your “Other” folders and be sure to add us to your email service list of “Safe Senders” to receive future emails containing seminar details.
International payments must be made by credit card in advance of the seminar.
Click here for a copy of a W-9 for Construction Audit & Cost Control Institute, Inc.
If you need to pay by check versus credit card, please select the option to “pay later” when you register and we will send you an invoice.
Need Assistance: Contact Marie Jones through the chat box (bottom right of screen) or Email: firstname.lastname@example.org