Target Cost Contracting Strategy in Construction

Released on by Daniel W.M. Chan
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  • Target Cost Contracting Strategy in Construction Book Detail

  • Author : Daniel W.M. Chan
  • Release Date : 2016-10-14
  • Publisher : Routledge
  • Genre : Business & Economics
  • Pages : 281
  • ISBN 13 : 1317229266
  • File Size : 32,32 MB
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Target Cost Contracting Strategy in Construction by Daniel W.M. Chan PDF Summary

Book Description: The problems inherent in the traditional design-bid-build procurement method often lead to the adversarial working relationships within the construction industry. Target cost contracts, accompanied by a gain-share/pain-share arrangement serving as a cost incentive mechanism, have emerged in the United States, the United Kingdom, Australia and Hong Kong with the aim of achieving better value for money and more satisfactory overall project performance under a collaborative working relationship. This book presents the underlying principles, practicalities and a series of short case studies of applying the target cost contracting strategy. Principles begin with the fundamentals then cover the development of target cost contracting in major countries/cities, definitions of target cost contracting, perceived benefits, potential difficulties and critical success factors for implementation. Practices include the target cost contracting approach and process in general, the key risk factors, risk assessment model, risk allocation and risk mitigation measures for target cost contracts in particular, together with a conceptual framework for the performance measurement of target cost contracts. Several short real-life case studies from the United Kingdom, Hong Kong, Australia and New Zealand are provided for further illustration. The book will appeal to a wide spectrum of readers from industrial practitioners to undergraduate students, researchers and academics interested in construction contracts and procurement methods.

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On Target

On Target

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Describes a new system of target cost building procurement in which there is a more equitable balance between employer's and contractor's risk, the quality of d

Target Cost Contracts

Target Cost Contracts

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An international version of the existing 'Form of Contract'. Various additional clauses to meet the special requirements of international projects, they are wri