3.02 Drive FM Success with More Effective Contract Relationships
Thursday, October 19, 2017 3:00 PM - 4:00 PM
Venue: George R. Brown Convention Center
Room: 351C

By utilizing best practices from both a client and a service provider viewpoint, Shouse and Ritter will facilitate a lively and interactive presentation which will leave the audience with a different view of the purpose and power of a service contract. They will also highlight some of the findings from the work performed by Oliver Hart & Bengt Holstrom-winners of a Nobel Prize 2016 for their studies of contracts and how to help us deal with conflicting and sometimes self interests. Hart & Holstrom improved our understanding of how and why contracts work & how they can be made to work better. That is the main objective of our presentation; how to enable better RFP creation, proposal review and evaluation and lastly to build a truly fair, equitable and manageable contract from which the FMer can truly govern the relationship. Additionally, we will discuss how performance and outcome based contracts are quickly replacing the older method of prescriptive based contracts. Lastly, we will highlight how contracts exist to shape power relationships sometimes with the necessity of trade-offs. Do you feel educated and empowered to create those type of relationships? If not, please come join us. If you already do, please come and share how you achieved this status.

Learning Objectives/Outcomes:
Learn how contracts affect our society and subsequent behavior (based on Hart & Holmstrom's-Nobel Prize winners 2016 findings).
How to create an effective RFP incorporating realistic objectives and evaluation criteria .
Discover effective monitoring mechanisms to be incorporated as part of the governance plan
How to develop effective service contracts/agreement and true partnerships versus just a written document
Levels of Learning
200 level
Topic Category:
Operations and Maintenance
Mrs. Teena Shouse, Principal, FM Transitions
Ted Ritter, Managing Partner, LMI360 / DrawAlert