Understand your role (and risks) in an IPD Agreement and evaluate tradeoffs of various IPD Agreement structures and what incentive tools will allow you to maximize value.
IPD Agreements are an alternative to traditional forms of design and construction contracting, to address inefficiencies and waste that result from the siloed roles of designers and contractors. The concepts are somewhat new and contracts can vary widely to address the needs of a particular project. Accordingly, the contracts can be difficult to review without understanding how IPD Agreements are structured. Which participants will sign an agreement directly with the owner and how will the others join? What is the basic compensation that will be paid to a project participant, what portion of compensation is placed at risk, and how is incentive compensation earned? This topic will provide that context so a project participant can evaluate their role (and risks) in an IPD Agreement proposed to them, and so an owner can evaluate tradeoffs of various IPD Agreement structures and what incentive tools will allow them to maximize value. The information will also cover some unique aspects of IPD Agreements like insurance and indemnity, and compare some of the available IPD Agreement templates.
Learning Objectives
- You will be able to discuss the common methods for tying project participants to an IPD Agreement.
- You will be able to review a proposed IPD Agreement on behalf of a project participant.
- You will be able to identify the risk-reward mechanisms in an IPD Agreement.
- You will be able to define the elements of a true IPD Agreement and identify an "IPD Lite" agreement.
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Agenda
How to Structure an IPD Agreement to Change Behaviors of the Project Participants
- Choose the Parties to the IPD Agreement, and Whether Other Risk-Reward Members Will Join the Project by Joining Agreements or Subcontracts
- Specify Management Tools and Collaborative Tools Without Constraining the Team's Ability to Choose Appropriate Tools
- Include Financial Risks and Rewards That Apply to the Entire Risk-Reward Team Through the IPD Agreement or Subcontracts
- Define Scope for the Entire Project, Not for Individual Participants
Structure Incentives That Reward Desired Behavior
- Use Target Cost to Determine Whether Profit Placed at Risk Is Earned
- Use Shared Savings to Reward Cost Savings Under the Target Cost
- Use Other Tools Like Added Value Incentive Items or Key Performance Indicators to Tailor to the Owner's Goals
Other Nuts and Bolts of the IPD Agreement
- Choose Insurance Requirements to Avoid Coverage Gaps
- Align Indemnity Agreements for All Project Participants
- Warranty Provisions and Intellectual Property Provisions
Compare Industry Templates, e.g., AIA and ConsensusDocs
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Over 37 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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OnDemand Course
This course was last revised on February 25, 2020.
Call 1-866-352-9540 for further credit information.
- AIA 1.25
- Lorman Education Services is a registered provider of AIA-approved continuing education under Provider Number J2016. This course is approved for 1.25 Learning Unit hour(s). Prerequisite: None, Program Level: Intermediate: Advanced Preparation: None
All registered AIA CES Providers must comply with the AIA Standards for Continuing Education Programs. Any questions or concerns about this provider or this learning program may be sent to AIA CES ([email protected] or (800) AIA 3837, Option 3). This learning program is registered with AIA CES for continuing professional education. As such, it does not include content that may be deemed or construed to be an approval or endorsement by the AIA of any material of construction or any method or manner of handling, using, distributing, or dealing in any material or product. AIA continuing education credit has been reviewed and approved by AIA CES. Learners must complete the entire learning program to receive continuing education credit. AIA continuing education Learning Units earned upon completion of this course will be reported to AIA CES for AIA members. Certificates of Completion for both AIA members and non-AIA members are available upon request.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 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
Alan Bishop, P.E.
Hanson Bridgett LLP
- Senior Associate in the office of Hanson Bridgett LLP
- Practice is focused on the construction industry, including both transactional work drafting contracts for alternative delivery models and litigation work resolving construction project claims
- More than five years’ experience drafting IPD Agreements including working with some of the original IFOA models and also bespoke agreements at the cutting-edge of the practice
- J. D. degree, University of California, Hastings; B.S. degree in civil engineering, University of California, Davis
- Can be contacted at 415-995-5113 or [email protected]
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