- This session was a follow-up on the September session’s contract overview. The discussion focused on how contracts allocated risk, and it explored the consequences when risk is unfairly allocated. Common delivery methods were reviewed and their chief characteristics compared.
- Using a legal case, the risks associated with cost estimating were explained. This case study illustrated the standard of care to which professionals can be held when offering estimating services.
- The GMP process was identified as a common source of risk, as well as a source of dispute among project team members. COGENCE Partners engaged in a discussion of the issues surrounding the timing of the GMP and the failure of nearly all contracts to clearly define the level of information on which the GMP is to be based. A more detailed “facilitated” GMP approach was presented as a direction for more successful outcomes.
