1-Hour Program

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One of the fundamental issues facing owners in construction contracting is cost containment. Only by meeting the owner’s budgetary constraints can the owner satisfy its obligations to partners, co-developers, lenders, public agencies and others. The selection, application and enforcement of a particular contract delivery method, i.e., stipulated sum, cost-plus or guaranteed maximum price (GMP), is the key to a successful project.

This program, drawing on the knowledge of an experienced project manager and accomplished construction attorneys, will explore contract delivery methods, with an emphasis on GMP construction management agreements.

Among others, these topics will be discussed:

  • Types of construction contracts and how the risks of cost, time and performance of the work are allocated (20 minutes)
  • Legal and business considerations in selecting the delivery methods and the pros and cons of a GMP (20 minutes)
  • Understanding and negotiating the elements of a GMP, including fees, contingencies, and project schedules (20 minutes)

Who Should Attend: Construction developers and owners; construction attorneys and accountants; construction design professionals; and construction managers and contractors.

Program Level: Overview

Prerequisites: None

Advanced Preparation: None


Kenneth M. Block, Esq.

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Richard Browne

Sterling Project Development

Brandon Reiner, Esq.

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Credit Details

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