Partnering with Honkamp Krueger's complimentary construction audit predictive modeling service is as easy at 1-2-3.
1. You provide HK with your capital project contract.
2. HK will utilize predictive modeling techniques to analyze your contract for “root cause” issues within your agreement utilizing historical data from the contract clauses of a wide variety of general contractors throughout North America to identify items such as, but not limited to, the following:
- Weaknesses in standard contract wording that could lead to potential disputes and litigation
- Areas for potential misunderstanding or contradictory language
- Areas to enhance language on allowable and unallowable costs
- Audit rights have been established for the appropriate term and allow visibility of records at the general contractor and subcontractor level
- Necessary penalties are in place for non-conformance with the contract and missed deadlines (pre-construction, substantial completion, final completion, final design documents)
- Contract types (GMP, unit cost, lump sum, etc.) have the appropriate standard language based on contract type and appropriate clauses for contract savings, cost overruns, mark-ups, insurance, bonding, etc.
- Insurance requirements (general liability, contractor default, subguard, etc.) are included to safeguard your investment
3. HK will issue a complimentary deliverable report and schedule a date/time to talk through the results of our CP3 review and the recommended action plan for each observation identified. HK will include key and high risk areas to review if an audit was to be conducted.