Contracting Strategies for Major Projects

Learn Key Practices and Processes to Drive Improved Capital Project Performance

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 IPA President and CEO Edward 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.

WHO SHOULD ATTEND?

All who consider contracting an important element of success in capital effectiveness will benefit from this program, including owner and contractor project managers, team members, supply chain executives, and other business leaders involved in major projects. The program provides insight into contracting approaches for those who manage whole project systems and seek to establish system-wide approaches to contracting.

Pricing & Discounts

US$1,800 if registered by 8 March 2025

US$2,000 if registered after 8 March 2025

* Registration fee in U.S. dollars

Download the course brochure for additional details.

Summary