Megan Wells

Megan Wells
Managing Director

Construction Cost Auditing & Advisory; Forensic Accounting Investigations

Megan Wells is a Managing Director at Ankura, located in Seattle. She has more than 25 years of experience in forensic accounting, mainly performing construction cost auditing and analysis of construction claims. Megan was formerly a Director in the global construction practice at Navigant and before that a vice president at Tucker Alan Inc.

  • Experience

    Megan’s experience includes performing construction cost auditing services to include review of contractors’ records of direct, indirect, and overhead costs and analysis of construction claims. Examples of her work performed contemporaneously with the project and post-contract completion include: verifying payment applications; calculating or providing verification of change order cost proposals; calculating daily jobsite or home office overhead rates; reviewing labor rates and burden on labor rates to ensure amounts are contractually compliant; reviewing bid to budget reconciliations; calculating project cost overruns; and testing of claimed costs versus supporting cost documentation.

    Megan’s professional experience includes:

    • University of Washington: Megan assists the Capital Project and Planning personnel at the University of Washington in multiple capacities, including assistance with setting the labor and equipment rates and billing practices for Electrical Contractor/Construction Manager (EC/CM) and Mechanical Contractor/Construction Manager (MC/CM) during GMP/MACC/MASC contract negotiations; comparing recorded costs to billings and reviewing billed costs for contractual compliance during the course of projects and at the final GMP/MACC close-out; performing cost analyses and audits of construction cost claims and requested change orders; and analyzing financial statements and bonding documentation of proposing General Contractor/Construction Manager firms on all University projects to determine financial viability of the firms prior to final contractor selection; among other services. Megan has provided these services to the University for more than 20 years.
    • Stanford University Internal Audit: Serves as a lead auditor assisting Stanford Internal Audit to identify financial and compliance risks by conducting incurred cost audits as well as operational review of internal procurement, bidding, and project controls and reporting. The audits are performed on major construction projects, including two hospitals currently under construction. Ankura personnel have provided these services to Stanford for more than 25 years; Megan has assisted Stanford for more than five years.
    • San Vicente to Second Aqueduct Pipeline Project: Assisted counsel and the San Diego County Water Authority with a construction cost audit and review of productivity impact claims arising from differing site conditions on a $200 million water tunnel project. She also calculated daily rates for labor crews, tunnel boring machine and other equipment costs, and overhead/indirect costs. Subsequently assisted the Water Authority with summarizations and presentations of the costs and claims to various levels of Water Authority personnel and the Water Authority Board, testified in deposition on a False Claims Act matter, and presented findings at mediation.
    • Port of Seattle Consolidated Rental Car Facility – Assisted counsel and capital projects personnel at the Port of Seattle in reviewing suspension cost claims for the $300 million SeaTac Consolidated Rental Car Facility. Reviewed project cost records at the regional home office of the general contractor and at the home offices of six subcontractors. Prepared written reports of audit findings and recommendations, related to both direct costs, such as equipment and escalation, and indirect costs, such as field office overhead costs, home office overhead costs, and Eichleay calculations during the suspension period.

  • News & events
    • “Washington Cities Insurance Authority, “Strategies for Dealing with Problem Projects,” Seattle, WA
    • Construction Cost Audits, “Experts Can Save You Money, Construction Claims Monthly,” Seattle, WA
    • WSBA Construction Law Mid-Year, “Audit Clauses and Obtaining Documentation to Quantify and Analyze Damages,” Seattle, WA
    • GRC Educators, “Pricing Contractor Jobsite Overhead Delay Costs,” Seattle, WA
    • Perkins Coie 2017 School Construction Workshop Panelist, Seattle, WA
  • Insights & innovation
    • “Benefits of Cost Accounting Consistency for Contractors and Subcontractors – The “Apples to Apples” Comparison,” Navigant Construction Forum, Co-Authored