& the costs are high
• 19% of projects were over budget; 15% were late. • 19% of firms had an Error & Omission (E&O) judgment against them in the last five years; median amount as percentage of total project fees: 5%. • 38% of firms had a project dispute that required mediation, arbitration, or litigation. • 20% of firms made an insurance claim in excess of legal defense fees.
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THE PRINCIPALS ACADEMY 2022
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