Engineering Inc. - January/February 2014 - (Page 42)

Business Insights Engineer Your Business as Well As You Engineer Your Projects Managing your A/E business for success requires technical knowhow as well as a broad awareness of today's best multidisciplinary business practices. Meeting these business challenges requires: * An understanding of human relations and related legal elements; * The ability to create and manage client relationships and expectations; * Experience in risk management and in drafting/adapting contracts; * Knowledge of the fundamentals of business development; and * A knack for ownership transition and employee satisfaction. ACEC's highly regarded Business of Design Consulting course is a comprehensive update for 2014 on the primary underpinnings of the successful A/E business, and a unique playbook for building leadership and managing your firm at the most effective levels. Join us March 19-22 in Chicago, where ACEC's expert and experienced faculty of industry practitioners will focus on contemporary best practices and critical operational management methods. The program highlights strategies for a wide array of critical, need-to-know business topics that will keep your business thriving despite a changing business environment. Attendees will learn specific skills and practices to successfully execute performance management, strategic planning and growth, finance, leadership, ownership transition, contracts and risk management, and marketing. Visit www.acec.org/education and click on "In-Person Courses" for more information. Indemnification Clauses In Engineering Contracts Engineers are increasingly being asked-and sometimes required- to sign contracts that may unfairly force them to indemnify their client (and possibly others) against losses the client might suffer on a project. The indemnification clause is often so broadly worded that it could be applied to any loss the client might suffer, whether or not that loss is attributable to the engineer. Trade associations and professional societies have long condemned such clauses because they impose liability on design professionals beyond their proper responsibility, involve exposure in excess of what the law would normally require and are not always covered by insurance. EJCDC standard documents provide for recognition and assumption by the engineer of appropriate responsibility as a licensed professional. Unfair indemnification clauses represent an attempt by project owners (or counsel) to subject the design professional to greater responsibilities than the law would normally impose, including for undesired outcomes that could occur even when the design professional meets the standard of care. It is an endeavor to reallocate risk and assign responsibility to the design professional for elements over which they have no control-and with no compensation. 42 ENGINEERING INC. JANUARY / FEBRUARY 2014 EJCDC recognizes that owners are pressuring engineers to include some form of indemnification of the owner. That is why EJCDC's Owner/Engineer Agreement (E-500) includes language that the engineer indemnifies the owner against claims caused by the "negligent act or omission" of the engineer. In most cases, this would be covered by the engineer's professional liability policy. E-500 similarly provides cross-indemnification by the owner for the engineer's benefit. To review The Owner/Engineer Agreement E-500 and the full array of EJCDC documents, go to www.acec.org/book store and click the "Contracts" link on the left. Business Practices and Contracts For Professional Surveyors Because risk assessment and planning while delivering quality engineering services are key factors in firm sustainability, the Council of Professional Surveyors (COPS) has developed the Seven Baselines of Business Practices: (1) Culture; (2) Planning; (3) Education; (4) Contract Documents; (5) Policy & Procedures; (6) Communications & Correspondence; and (7) Technical Tools & Documents. Each includes worksheets and sample documents. New Releases Baseline 2-7: Pre-Proposal Risk Assessment Form Created to help firms identify potential risks before pursuing opportunities, the form includes questions related to Market Risk, Professional Liability Risk and Financial Risk. Baseline 4-5: Client Contract-Business & Technical Review Checklist This quick-review form will help firms minimize business and/or technical risk. Baseline 6-5: Client Feedback Form This easy-to-use addition to the internal QC/QA process will help firms get comprehensive and actionable feedback. COPS Contract 4-1: Client and Consultants Professional Services 2013 COPS Contract 4-2: Agreement between Consultant and Sub-consultant for Professional Services 2013 All ACEC Coalition-developed products are available at www.acec.org/bookstore. ACEC's Business Resources and Education Department provides comprehensive and accessible business management education for engineering company principals and their staffs. Visit ACEC's online educational events calendar at www.acec.org/calendar/index.cfm or bookstore at www.acec.org/bookstore, or call 202-347-7474, ext. 324, for further information. http://www.acec.org/bookstore http://www.acec.org/bookstore http://www.acec.org/education http://www.acec.org/bookstore http://www.acec.org/calendar/index.cfm http://www.acec.org/bookstore

Table of Contents for the Digital Edition of Engineering Inc. - January/February 2014

Engineering Inc. - January/February 2014
Contents
From ACEC to You
Market Watch
Legislative Action
Extreme Weather Resistance
2014 Legislative Outlook
Model Infrastructure
The Hard Market That Never Came
2013 Fall Conference Highlights
Mirrored Concerns
Risk Management
Business Insights
Members in the News
Mergers and Acquisitions

Engineering Inc. - January/February 2014

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