21st Annual Forum
“Shifting the Risk: Transitioning from Cost-Reimbursable to Lump Sum Contracting”
Cost-reimbursable contracts appear to be losing their foothold in the large-scale EPC contracting arena as more and more project owners move to lump sum pricing. While it may seem that lump sum contracts shift much of the risk for schedule and cost back to the contractor, there are hidden risks for all stakeholders. This interactive panel will encourage a dialogue between owners and contractors as we explore best practices for managing projects in a lump sum versus cost-reimbursable environment. Participants will gain tools and strategies to assess the shift in risk when transitioning from cost-reimbursable to lump sum contracts, understand key differences in administering changes under a lump sum versus reimbursable contract, and address the “cost-reimbursable mindset” that may hinder success on lump sum projects.
Louise Blake, Director, Commercial Risk, KBR
Shelley Eichenlaub, Senior Legal Counsel, Motiva Enterprises LLC
Andrew B. Rhodes, CCP, PSP, President, The Rhodes Group
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