Course Description

IPA data show that problems with contracting strategies are often the root cause of project failure. Quite often, owners are tasked with selecting appropriate and effective contracting. However, owner teams do not have access to enough data to identify the most suitable contracting strategies and assess the associated risks. This course provides data and a process to enhance participants’ capabilities in evaluating, selecting, and developing appropriate and effective contracting strategies for capital projects.

Contracting strategy is an important element of any project execution plan. It is often a contentious area with strongly held beliefs about how contract plans can influence project outcomes. However, no one contracting strategy is right for all projects or project systems. As owners outsource more work to contractors, contracting arrangements have become increasingly important elements of the capital project process.

Key Benefits

• Learn the strategies to manage the risks and difficult challenges of today’s contractor market
• Understand various methods to avoid common contracting mistakes and problems in execution
• Build a productive owner-contractor relationship
• Implement the best contracting strategy based on project-specific characteristics
• Learn how risk analysis exercises affect contracting strategy
• Apply learnings from IPA’s research to improve your ongoing and future projects

Course Topics

• Contracting and Project Outcomes
• Exploring Why They Work the Way They Do
• The Unusual EPC Lump-Sum Strategies
• Collaborative and Relational Contracting Strategies
• Prequalification
• Use of Supplemental Incentives
• It’s All About Risk
• Who Should Control Contracting Strategy?
• The Effects of Scale
• Toward Fair, Balanced, and Smart

Course Background

This seminar is based on Merrow’s book, Contract Strategies for Major Projects (all participants receive a free copy), and IPA’s extensive understanding of contracting as it relates to capital effectiveness. IPA began its research into contracting issues over 30 years ago when we first recognized the trend toward outsourcing engineering activities. Our research has continued to identify the circumstances under which various contracting approaches are effective.

Pricing & Discounts

US$1,800 if registered by 12 October 2024

US$2,000 if registered after 12 October 2024

Register 3 and send a 4th for free!

Download the course brochure for additional details.

* Registration fee in U.S. dollars