Webinar
Construction claims: Part 1: The fundamentals
Sept. 20, 2017
Most organizations eventually experience a construction claim on a project. Every project is unique and every claim is unique. Therefore, the processes and procedures required to ensure a cost effective and efficient resolution must be tailored to the situation.
Part 1: The fundamentals
Construction claims occur for a wide variety of reasons, such as storm damage, subcontractor failure, contractor non-performance, scope disagreements and quality. This webinar addressed the different kinds of claims and their root causes. The session also explored why it is important for the finance, facilities and internal audit departments to collaborate on claim resolution. Lastly, listen in to learn more about the initial audit procedures to perform when quantifying and mitigating a construction claim.
Learning objectives
- Understand how to identify causes of a claim
- Learn how to quantify the financial impact to the project and organization
- Understand how to identify the internal controls in place to capture and account for claim costs
- Learn how to outline added procedures and how to test that those procedures are functioning
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