Contracts are the backbone of the construction industry but also a significant source of financial risk. This session will focus on risk management strategies for contract negotiation, delivery method selection, preconstruction services, change orders, and retainage policies. Learn how CPAs can help clients minimize financial exposure and enhance documentation transparency. This session was recorded on March 25, 2025 for CalCPA'sConstruction Management Conference.
Learning Objectives
• Identify key risk areas in construction contracts and their financial implications.
• Develop strategies for preconstruction services including subcontractor vetting, bidding, and award process.
• Advise clients on best practices for managing change orders and retainage.
Major Topics
• Identifying Financial Risks in Construction Contracts
• Contract Negotiation Strategies
• Delivery Method Selection and Risk Allocation
• Preconstruction Services and Subcontractor Vetting
• Change Orders Management
• Retainage Policies and Cash Flow Management
