EPC lump sum contracts in a recovering market – failsafe or failure?
Owners often think there is greater security in using a fixed price lump sum contract pricing model, believing that it allocates most of the risk to the contractor. Evidence has shown, however, that these contracts can fail to achieve the certainty that the owner requires, often resulting in projects being late and over budget.
Contracting strategies change in line with demands on the supply chain. In the current recovering market, what are the real triggers that should determine how project contracts are awarded and what are the genuine risks in imposing a fixed price?
In this live, interactive 40 minute webinar, Aileen Jamieson, Vincent Hooker and Andy Aston will discuss whether lump sum contracts can provide the level of cost and schedule certainty sought by owners.
- Are lump sum contracts used to pass on excessive risk?
- When are lump sums not fit for purpose?
- Are specific contract terms required where lump sums are used to safeguard the owner?
- Can contractual incentives be utilised to assure cost and schedule certainty?
This webinar will be held on 6 December 2018 at 08:30 GMT and 15:30 GMT. Please register for the time that works best for you. If you can't make it, fill in the registration form and we'll send you a recording.