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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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.
- 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.
*Please check the rules and requirements in your state for compliance.
- AL ENG
- This Ondemand program is applicable for professional development hours through the Alabama Board of Licensure for Professional Engineers and Professional Land Surveyors.*
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- AR ENG
- Lorman Business Center, Inc. is an approved sponsor of professional development hours with the Arkansas State Board of Registration for Professional Engineers.
- FL ENG 1.7
- This course has been approved for 1.7 PDHs by the Florida Board of Professional Engineers in the Areas of Practice.
- GA ENG
- This Ondemand program is applicable through the Georgia State Board of Registration for Professional Engineers.for 1.4 professional development hours.*
*Please check the rules and requirements in your state for compliance.
- IA ENG
- This Ondemand program is applicable for professional development hours for engineers. Please refer to Chapter 3, 193C IAC.*
- ID ENG 1.5
- This Ondemand program is applicable for 1.5 professional development hours through the Idaho Board of Professional Engineers and Professional Land Surveyors.*
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- IL ENG 1.5
- This program is applicable for 1.5 professional development hours through the Illinois Society for Professional Engineers.*
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- IN ENG 1.7
- This Ondemand program is applicable for 1.7 professional development hours through the Indiana State Board for Professional Engineers.*
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- KS ENG 1.0
- This program is applicable for 1.0 professional development hours for engineers.*
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- KY ENG 1.4
- This Ondemand program is applicable for 1.4 professional development hours for engineers.*
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- LA ENG
- The Louisiana Professional Engineering and Land Surveying Board (LAPELS) no longer approves providers or courses. Lorman Education Services believes that this course is worth 1.5 PDH(s). According to LAPELS' rules, It will be the responsibility of the licensee to determine if a Course/Activity offered by an unapproved sponsor/provider is an Acceptable Activity.
- 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.
- ME ENG 1.0
- This ondemand program is applicable for a maximum of 1.0 hours toward the annual PDH requirement. Please note: The State of Maine Professional Engineers Registration Board does not pre-approve courses for professional development credit.*
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- MN ENG 1.0
- This course is applicable for a maximum of 1.0 hours toward the PDH requirement for engineers. Please note: The Minnesota State Board of Registration for Engineers has final authority on the acceptance of individual courses.
- MO ENG 2.0
- This ondemand course is applicable for 2.0 professional development hours for engineers.*
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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 1.5
- Lorman Business Center, LLC. is an approved sponsor of the North Carolina State Board of Examiners for Engineers and Surveyors. This course qualifies for 1.5 professional development hours for engineers.
- 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.*
*Please check the rules and requirements in your state for compliance. The New Hampshire Board of Engineers has final authority on granting approval.
- NJ ENG 1.0
- This course has been approved by the New Jersey Professional Board of Engineers and Land Surveyors for 1.0 professional development hours.
- NM ENG 1.5
- This course is applicable for 1.5 professional development hours for engineers.*
*Please check the rules and requirements in your state for compliance.
- 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
- This course is applicable for professional development hours for engineers.*
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- OR ENG
- This course is applicable toward engineering continuing education hours in Oregon, please refer to your rules and laws.
- PA ENG 1.7
- This program is applicable for 1.7 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
- This course is applicable for professional development hours for engineers in South Dakota.*
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- TN ENG
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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 1.5
- This program is applicable for 1.5 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.*
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- WI ENG 1.5
- This course is applicable for a maximum of 1.5 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 1.7
- This course is applicable for 1.7 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
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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