Review your contracts carefully during the estimating process.

1. Contracts are the basis of all projects
   1. Contracts = risks / deliverables = cost
   2. Contracts can be simple or complex
   3. Review the clauses and account for them in your estimates
2. Risks & deliverables cost money
   1. Depending on the risk / deliverable the value will fluctuate
      1. You can break them into Actual and Potential
   2. Actual: reporting, scheduling, manpower, supervision, security, etc.
   3. Potential: Acceleration, change order mark-ups, delays, hold harmless, etc.
   4. Account for them in the estimate
3. Review and add to your estimate
   1. Treat like a contingency – have adds/deducts
   2. Review each clause to determine what time / effort is required
   3. What are the possibilities on the project