RISK MANAGEMENT GUIDANCE
Since the professional services to be provided and the time spent providing those services are critical factors in determining the fee for a project, evaluating the fee is an important consideration in identifying potential risks.
Factors to consider with evaluating professional fees include:
• adequacy of the fee for professional services;
• mechanisms relating to an increase in fees for changes in services or additional services; and
• mechanisms for timely invoicing and receipt of fees.
Use the fee component of the Risk Management Matrix on page 50 to help you further evaluate your potential risks.
32 • From Risk to Profit - Benchmarking and Claims Studies
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