Information & Registration for CTA Sponsored Seminars

Course Description

This two-day seminar provides auditors with the ability to look beyond their traditional auditor role by providing insight on how to partner with their management team to conduct effective audits of their organization's construction activity.  Specific "how to" construction audit techniques and other industry specific detailed information will be discussed to enhance the attendees' abilities to identify and develop potential cost avoidance and/or cost recovery opportunities.  It will also provide auditors with specific knowledge to help them identify opportunities for key process improvements related to construction procurement and contract administration.

The course will emphasize effective construction audit strategies and construction cost control techniques for projects involving the use of the following types of construction contracts:

• Cost plus FEE - Construction Manager at Risk - Guaranteed Maximum Price (GMP) contracts
• Cost plus FEE - Design-Build GMP contracts
• Cost plus FEE contracts with General Contractors (with or without a GMP)
• Cost plus FEE contracts with major subcontractors/trade subcontracts (with or without a GMP)
• Lump sum and/or Unit price trade subcontracts

 Learning Objectives 

• Owner's construction auditors will learn specific "how to" techniques for conducting effective audits of their organization's construction activity.
• Owner's project managers will learn specific key control points that will increase their ability to manage the costs of their construction projects.
• Owner's project managers will learn how to effectively partner their construction auditors to more effectively control the costs of their construction projects.
• Issues to consider to avoid costly mistakes when entering into contruction contracts.
• Key steps to ensure the best value is received when the CM/GC contracts with subcontractors.
• Critical process to ensure change orders are priced fairly.
• Process to control costs related to materials purchased by the contractor.
• How to structure your contract to avoid overpaying for contractor owned equipment.
• Possible overcharges for third party equipment to watch out for. 
• How to avoid making excessive payments for subguard and/or contractor controlled insurance programs.
• Methods to effectively minimize contract loopholes that create opportunity for contractor hidden profits.
• Management/construction audit partnering strategies to ensure cost controls are working to benefit the project. 

Who should attend:

Owner organization representatives who are involved with auditing or administering construction activity including:

• Owner's construction audit representatives (internal audit and/or external consultants)
• Owner's construction management executives, project managers, administrators, procurement representatives and legal representatives.

Field of Study:  Auditing