6 Questions Your IPD Contract Should Ask
Traditional contracts just won’t work for IDP. Get ready to revamp your contracts for new project methods.
1. How will the project be managed, and how will decisions be made?
2. Will each participant have an equal vote, or will the owner have special rights?
3. Who will be included in the contract and the management team?
4. How will costs be measured and billed—guaranteed maximum prices, target cost or target value, transparent pricing?
5. What incentives will be offered? How will they be awarded or earned?
6. Who bears the risk—which parties are responsible for consequential damages?
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