Brain Food: Contract Negotiation & Management: Foundations for Project Success

This session provides project managers with essential knowledge on navigating and managing construction contracts effectively. From understanding critical clauses to developing strategies that enhance project stability, attendees will explore the fundamentals of contract negotiation, risk allocation, and compliance. We’ll dive into the nuances of private versus public contracts and discuss specialized considerations for projects in regulated spaces such as healthcare, housing, and laboratories. Emphasis will be placed on best practices in managing contracts to avoid disputes, maintain cash flow, and support project continuity.

Learning Objectives:

1. Master Key Contract Elements for Stronger Agreements
   Gain insight into essential contract components, including payment provisions, indemnification clauses, scope of work, schedule management, insurance, and warranties. Learn to tailor contracts to address unique challenges in private versus public projects, as well as specialized projects in regulated spaces, such as hospitals, stadiums, and laboratories.
2. Develop Effective Strategies for Contract Management
   Learn strategies to manage contracts efficiently, including the use of Master Agreements, setting up reporting requirements, and integrating resource-loaded schedules for cash flow projections. Understand the importance of timely updates to the schedule and managing deliverables to keep the project on track.
3. Navigate the Complexities of Change Management
   Understand the legal and procedural steps in documenting and managing change orders, addressing scope adjustments, and negotiating terms to minimize disruptions and maintain project quality.
4. Ensure Compliance and Mitigate Risk Across Project Phases
   Explore methods for ensuring compliance with contract terms throughout the project lifecycle, from start to closeout, and how to proactively manage risks, including strategies to anticipate and address financing or resource challenges that may arise.

Applying for 1.0 AIA Learning Unit