Learn how to tailor construction management agreements to mitigate project issues and deliver successful projects.
Large-scale construction projects present a myriad of issues that developers need to effectively navigate. To mitigate these issues and deliver successful projects, developers need to tailor their construction management agreements. These agreements need to establish objective requirements governing construction manager's performance, clear and agreed-upon allocations of risk between the developer and construction manager, both pre-GMP and post-GMP, and straightforward mechanisms for dealing with project issues when they arise. To that end, this presentation analyzes the problems developers face and how the construction management agreement can be structured to anticipate likely issues and preemptively mitigate risk. Through objective provisions in the agreement, the parties can clearly define their rights and obligations and avoid unnecessary disputes during the project. The construction management agreement can also be designed to align the parties' interests and incentivize the construction manager's performance to meet certain developer objectives.
Learning Objectives
- You will be able to discuss how to structure contractual provisions to anticipate such issues and clearly define risk allocation (from the developer's perspective).
- You will be able to explain methods to align the developer's and construction manager's interests during the project, which can mitigate both parties' damages when unexpected issues arise during construction.
- You will be able to identify several issues that are likely to arise during a large-scale construction project and how those issues impact a developer's goals and objectives.
- You will be able to recognize common disputes that arise during GMP projects and strategies to address and mitigate the impact of such disputes.
65 minutes
Course Exam
Certificate of Completion
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Agenda
Background: Basic Components of a GMP Contract
- CM's Compensation (Including a No-GMP Discount on Fee)
- Procurement Process, Open Book
- Timing of the GMP, Developer's Option to Accept/Reject
- Risk Allocation Pre-GMP and Post-GMP, Including Schedule Risk
- Excusable Delays and Contingency
- Notice Provisions and Monthly Lien Waivers
Post-CMA Pitfalls
- Procuring the Work (Subcontract Terms Matter)
- GMP Qualifications and Assumptions (Qualifications on Scope and Cost)
- Obligation to Perform Notwithstanding a Delay - With Teeth
- Expedited Mediation for Efficient Dispute Resolution
- Interim Change Orders for Funding Purposes Only
The Close Out Process and Developer's Audit Rights
- Negotiating Close-Out - Defining CM's Responsibilities and Owner's Rights
- Developer's Audit Rights - Resolving Disputes Concerning Allowable Costs and Non-Allowable Costs
Incentivizing Performance
- Incentive Fees - Which Outcomes Does the Developer Want to Incentivize?
- Contingency and Shared Savings
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Credits
OnDemand Course
Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.
This course was last revised on December 21, 2022.
Call 1-866-352-9540 for further credit information.
- AIA 1.0
- Lorman Education Services is a registered provider of AIA-approved continuing education under Provider Number J2016. This course is approved for 1.0 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.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
- AK ENG 1.0
- This Ondemand program is applicable for professional development hours through the Alaska State Board of Registration for Architects, Engineers and Land Surveyors. Professional development hours: 1.0.
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- AL ENG
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- AR ENG
- This Ondemand program is applicable for 1.0 professional development hours.*
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- FL ENG 1.2
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- GA ENG
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- IA ENG
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- ID ENG 1.0
- This Ondemand program is applicable for 1.0 professional development hours through the Idaho Board of Professional Engineers and Professional Land Surveyors.*
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- IL ENG 1.0
- This program is applicable for 1.0 professional development hours through the Illinois Society for Professional Engineers.*
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- IN ENG 1.2
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- KS ENG 1.0
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- KY ENG 1.0
- This Ondemand program is applicable for 1.0 professional development hours for engineers.*
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- MD ENG 1.0
- Lorman Education Services is a board approved sponsor with the Maryland Board of Professional Engineers. This course qualifies for 1.0 professional development hours.
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- MN ENG 1.0
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- MO ENG 1.5
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- MS ENG
- This ondemand course is applicable for professional development hours through the Mississippi State Board of Registration for Professional Engineers.*
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- MT ENG 1.0
- This ondemand course is applicable for 1.0 professional development hours for engineers.*
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- NC ENG 1.0
- Lorman Business Center, LLC. is an approved sponsor of the North Carolina State Board of Examiners for Engineers and Surveyors. This course qualifies for 1.0 professional development hours for engineers.
- ND ENG 1.0
- The North Dakota State Board of Registration for Engineers and Land Surveyors does not pre-approve courses or providers.
This course may be applicable for professional development hours in your state. Please check your rules and requirements for compliance.
- NE ENG
- This course is applicable for professional development hours for engineers if the course is continuing engineering education for you..*
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- NH ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
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- NJ ENG 1.0
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This course is applicable for 1.0 CPC credits for engineers. *
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- NM ENG 1.0
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- NV ENG 1.0
- This course is applicable for 1.0 professional development hours through the Nevada State Board of Engineering and Land Surveyors.*
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- OH ENG
- This ondemand course is applicable for continuing education credit for engineers through the Ohio State Board of Licensure for Professional Engineers provided it is a relevant managerial, ethical or technical topic relevant to the practice of engineering or surveying.*
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- OK ENG
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- OR ENG
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- PA ENG 1.2
- This program is applicable for 1.2 PDHs for engineers through the Pennsylvania State Board of Professional Engineers, Land Surveyors and Geologists.*
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- SC ENG 1.0
- This course is applicable for 1.0 hours toward the PDH requirement for engineers through the South Carolina Board of Registration for Professional Engineers.*
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- SD ENG
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- TN ENG
- This course is applicable for professional development hours for engineers.*
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- TX ENG
- This Ondemand course is applicable for professional development hours for engineers.*
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- UT ENG
- This course is applicable for professional development hours for engineers.*
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- VA ENG 1.0
- This program is applicable for 1.0 hours of continuing education through the Board for Architects, Professional Engineers, Land Surveyors, Certified Interior Designers and Landscape Architects (APELSCIDLA BOARD).*
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- VT ENG
- This course is applicable for professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- WI ENG 1.0
- This course is applicable for a maximum of 1.0 hours toward the PDH requirement for engineers.*
*The Wisconsin Engineer Section has final authority on the acceptance of individual courses and providers.
- WV ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- WY ENG 1.2
- This course is applicable for 1.2 professional development hours for Wyoming engineers.*
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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
Nicholas M. David
Troutman Pepper Hamilton Sanders, LLP
Nicholas David
- Represents owners and developers in both transactional and litigation matters in the construction law area
- Practice includes prominent corporate and institutional owners and developers, as well as real estate and hospitality industry companies, that turn to Troutman Pepper for guidance on some of the largest commercial, residential and mixed-use projects
- Drafts and negotiates a full range of development, design, and construction agreements, including construction management agreements (with GMPs) on projects of all sizes, from boutique luxury condominiums to the largest, most complex demolition and vertical construction tower projects – and everything in between
- Super Lawyers: New York - Rising Star in Construction (2014, 2016-2020)
Kevin P. Wallace
Troutman Pepper Hamilton Sanders, LLP
Kevin Wallace
- Represents real estate developers on all legal issues related to major construction projects, including contract negotiation, counseling on issues that arise during construction, resolution of claims, and the prosecution or defense of litigation
- Chambers USA: Construction, New York (2022)
- Best Lawyers in America®: Construction Law (2023)
- Represented the developer of a New York City megaproject that is the largest private real estate development in the United States, including (i) negotiating various contracts, (ii) resolving numerous claims and disputes with government entities, design professionals, construction managers, and trade contractors concerning different projects and towers within the overall development, and (iii) litigating four state court actions and several arbitrations
- Represented the developer of a new airport terminal, including the negotiation of the lease with the Port Authority of New York and New Jersey, the construction agreement with the design-builder, and various related agreements
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