Gain an understanding of project delivery methods, their implications and the current legal landscape.
This topic explains the fundamentals of fixed price and cost-plus contracts, which dominate the field of project delivery methods. We will explore the incentives, risks and administration specifics associated with each type; examine how these methods enable collusion, kickbacks and fraud; and engage in a short case study of well-known projects demonstrating these issues. The topic will provide advice and practice considerations for avoiding these pitfalls. The primary objective of this topic is to provide you with a competent understanding of these project delivery methods, their implications and the current legal landscape, all to help better carry out your projects.
Learning Objectives
- You will be able to describe the fundamental characteristics of fixed price and cost-plus project delivery methods and their common variations.
- You will be able to identify methods to avoid and mitigate such risks on your own projects.
- You will be able to recognize the modern legal landscape surrounding the construction industry, and the risk of fraud and collusion.
- You will be able to explain the differences in administering both fixed price and cost-plus contracts.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Fixed Price vs. Cost-Plus Contracts
- Basic Structure
- Incentives and Risks
- When to Use
- Mitigating Risks With Variations
- Common Clauses
Differences in Administering Fixed Price and Cost-Plus
- Payment
- Change Orders
- Design Issues
- Role of the Architect
Fixed Price and Antitrust Issues
- Bid Rigging and Price Fixing
- Anti-Collusion and Anti-Kickback Clauses
- New York Presbyterian Hospital
Cost-Plus and Fraud Issues
- Fiduciary Duties for Contractors and Construction Managers
- Fiduciary and Notice of Substantial Costs Clauses
- Tishman/Bovis Lend Lease/Pavarini Mcgovern
The Future Under Fixed Price and Cost-Plus
- Transparency, Scrutiny and Litigation
- Practical Considerations
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on June 24, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty

Carol A. Sigmond
Greenspoon Marder
- A seasoned legal professional with over 30 years of experience, she brings significant knowledge to her practice which concentrates on construction industry matters
- She has extensive experience litigating construction disputes for public works and buildings in both the public and private sectors, as well as preparing contract documents including design-build, construction management, guaranteed maximum price, and fixed-price contracts
- Recognized thought leader in the construction law community in New York
- Current vice president of the New York State Bar Association and the former president of the New York County Lawyers Association
- Frequent speaker and author on topics relating to construction law and publishes “The Co-Op Condo Help Line” appearing monthly in various Mann Report publications
- Member of Law360‘s 2020 Construction Editorial Advisory Board
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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