How should Ed handle the situation regarding the incorrect contract value?

The best course of action for Ed is to call Mary, the lead architect, and inform her of his discovery regarding the incorrect contract value. This approach emphasizes communication and transparency, which are essential in any construction or contract scenario.

By notifying Mary, Ed ensures that the situation is addressed promptly and collaboratively, allowing for an accurate assessment of the contract. Open dialogue is crucial for maintaining trust among team members and for adhering to project integrity. Ignoring the discrepancy or unilaterally making adjustments could lead to misunderstandings, financial imbalances, or legal issues later on, as all parties involved should be on the same page regarding financial and contractual agreements.

Moreover, by discussing the issue with Mary, Ed is likely to engage in a problem-solving process that may lead to a suitable solution, whether that involves amending the contract or reallocating funds as needed. This collaborative effort not only addresses the issue directly but also supports a culture of accountability and responsibility within the team.