Fixed price contracts—often referred to as lump sum, stipulated sum or EPC—offer an owner a level of comfort by delivering a set scope for a known price; however, these contracts still burden the owner with risks of change orders, material substitution and schedule slippage. This webinar will teach viewers how auditing these contracts at the preconstruction stage and closeout can help prevent unnecessary costs and project surprises.
Key learning objectives:
- Understand how to identify risks of a fixed price contract
- Learn how to write a fixed price contract audit program
- Learn how to recognize audit red flags that require an auditor’s attention
For more information on this topic, or to learn how Baker Tilly real estate specialists can help, contact our team.