Approved for 1.5 AIA

This program will discuss the risks and pitfalls of a cost-plus contract and how to minimize and manage those risks early on. This webinar will also address what steps need to be taken when faced with an owner audit of the costs on a cost-plus contract.  On fixed-price contracts, many of these same issues arise for "time & material" change orders or where a change order exceeds a stated value and/or the contract otherwise grants the owner the right to audit. 

Understand the important implied obligations and special issues in every cost-plus contract:

• The owners right to audit
• The contractors responsibility to prove costs
• Types of costs that are typically reimbursable
• Setting up a cost control system at the onset to minimize risk
• Reconciliation procedures to prove costs to the cost control systems and reports
• Pitfalls in labor, equipment, subcontractor, general conditions, overhead and others costs
• Issues with auditing guaranteed maximum price contracts

In addition, this 90-minute, information-packed webinar will:

• Consider the risks and responsibilities of cost-plus contracts from job setup to completion
• Discuss the pitfalls in proving costs for cost-plus contracts
• Provide you with categories of the types of documents necessary to support your costs
• Provide you with reconciliation procedures to support your costs
• Fixed-price contracts: the same principles apply to "time & material" change orders and where otherwise provided for in the general conditions or federal regulations
• And much, much more!

Who Will Benefit?

This webinar is a must if you’re a public or private owner, construction manager, contractor, subcontractor, accountant, consultant, architect or engineer involved in design, project management or administration of cost-plus contracts. Register below to gain key insights from our knowledgeable experts.

Meet Your Presenters:

Sonia Desai, CPA RGL Forensics Sonia Desai, CPA is a Manager with RGL Forensics. Ms. Desai specializes in the field of litigation support and business valuation. She has managed and executed numerous expert witness engagements involving the quantification of economic damages and valuation in commercial disputes. Her experience in dispute resolution has included claims for breach of contract, construction defect, misappropriation and infringement of intellectual property, defamation, shareholder disputes and marital dissolution. Ms. Desai began her career in Toronto, Canada where she focused her practice on business valuations for estate & gift tax, mergers & acquisitions, family law and financial reporting for closely held and public companies. Ms. Desai has been actively involved in the preparation of expert witness reports and calculations. She has collaborated with attorneys to formulate strategy and questions for deposing and cross-examining opposing expert witnesses.

Jack W. Harris, Director RGL Forensics Jack W. Harris is a Director with RGL Forensics. Prior to this position, Mr. Harris was President of Cost Verifiers, Inc. Mr. Harris has extensive litigation support experience in damages quantification, cost verification, lost profits analyses, financial management, accounting, internal auditing, valuations, and fraud investigations. Mr. Harris has 32 years professional experience and has worked on numerous domestic and international projects. Mr. Harris serves as an independent expert and consultant, and has held various management auditing and controller positions with major accounting, construction, financial services, and diversified firms. Mr. Harris has directed and performed numerous expert analyses and calculations involving issues of cost impact, cost reporting, claims damages assessment, lost profits, cost-to-complete estimates, home office costs, lost revenue, business interruption, operational costs, interest damages, foreign currency exchange, and others. He has provided expert witness testimony (at depositions and trial) and has experience with expert reporting, strategic case development, and the discovery process (including preparation, rebuttal and response to interrogatories). Mr. Harris’ dispute resolution experience includes coordination and assistance to counsel and with other experts in scheduling, delay, disruption, acceleration, change orders, productivity and inefficiency, cumulative impact, differing site conditions, measured mile, termination, and other technical issues.