How did you pick up the “right” partner? Seems now it’s funded, but you guys are thinking of “trust”?
Your boss asked you to oversee/audit, honestly but obviously you don’t know how to do that. So you are the best bet your boss has?
Usually you could set up a mutually agreed budget beforehand, and/or plus a guaranteed maximum price. If you want, could participate/oversee/approve all the major bids… But again all these need to be agreed upon upfront, and I’m a little amazed.
At this moment, it’s more about what contract you guys have. And best of luck, sincerely.