Target Cost Contracting Strategy in Construction PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Target Cost Contracting Strategy in Construction PDF full book. Access full book title Target Cost Contracting Strategy in Construction by Daniel W.M. Chan. Download full books in PDF and EPUB format.
Author: Daniel W.M. Chan
Publisher: Routledge
ISBN: 1317229266
Category : Business & Economics
Languages : en
Pages : 281
Get Book
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.
Author: Daniel W.M. Chan
Publisher: Routledge
ISBN: 1317229266
Category : Business & Economics
Languages : en
Pages : 281
Get Book
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.
Author:
Publisher: IChemE
ISBN: 9780852955123
Category : Law
Languages : en
Pages : 136
Get Book
Book Description
An international version of the existing 'Form of Contract'. Various additional clauses to meet the special requirements of international projects, they are written in a more internationally accessible and user-friendly English language and specific references to UK law have been removed.
Author:
Publisher: Thomas Telford
ISBN: 9780727734648
Category : Civil engineering contracts
Languages : en
Pages : 72
Get Book
Book Description
This publication provides guidance to the ICE Conditions of Contract Target Cost Version, First edition which encourages active collaboration to reduce costs by sharing expertise and jointly managing risks in an open working environment, within the framework of the ICE Conditions of Contract family. It encourages the Contractor to be more closely involved in aspects of design, provides for payment to the Contractor on a cost reimbursable basis and an incentive share arrangement if the costs differ from the target. A more open style of control and management, which permits an early and joint approach to the identification and management of risks, obliges parties to recognise and understand each other's objectives and promotes closer working relationships.
Author: National Economic Development Council (Great Britain). Economic Development Committee for the Civil Engineering Industry
Publisher:
ISBN:
Category : Civil engineering
Languages : en
Pages : 32
Get Book
Book Description
Author: Jon Broome
Publisher: Thomas Telford
ISBN: 9780727731364
Category : Business & Economics
Languages : en
Pages : 420
Get Book
Book Description
This book is aimed at those who want to apply or improve the application of partnering in the construction and heavy engineering industries to their projects. It focuses on procurement aspects based on the premise that unless the commercial and contractual conditions align objectives, there is little stimulus to change the culture and integrate processes and teams to achieve the outstanding results that can be attained through partnering.This invaluable book presents detailed information about the partnering and procurement process, which will lead to better delivery of construction projects.
Author: Kenneth R. Segel
Publisher: Berrett-Koehler Publishers
ISBN: 1567264697
Category : Business & Economics
Languages : en
Pages : 390
Get Book
Book Description
Everything You Need to Know About Government Contract Types As the world's single largest buyer of goods and services, the federal government has many ways to structure its procurements. Different situations and conditions often determine the best vehicle for a particular purchase. Contracting officers must assess a wide range of factors to determine which contract type will provide the government the best value and the least risk. The Complete Guide to Government Contract Types provides a comprehensive overview of the key government contract vehicles and types: fixed-price, cost-reimbursement, incentive, and other (which includes letter, indefinite-delivery/indefinite-quantity, and time-and-material contracts). The author first explains the selection process for contract vehicles, which is the basis for selecting the appropriate contract type for the work in question. He then presents a comprehensive, in-depth analysis of each contract type, explaining how each works best to meet certain types of requirements and conditions. This is an essential resource for both contracting officers and contractors seeking to understand and work effectively within the nuances of contract selection and compliance.
Author: Chris Hendrickson
Publisher: Chris Hendrickson
ISBN: 0137312660
Category : Construction industry
Languages : en
Pages : 425
Get Book
Book Description
Author: Institution of Civil Engineers
Publisher: Thomas Telford
ISBN: 9780727728586
Category : Civil engineering contracts
Languages : en
Pages : 84
Get Book
Book Description
Helps towards delivering construction projects on time by enabling better client-contractor communication. This publication will help towards delivering construction projects on time by enabling better client-contractor communication. The new contract allows the employer, usually with the assistance of the contractor, to set a clear target for the cost of the civil engineering works to be carried out, in order to avoid projects overrunning on cost and deadline. ICE's latest contract also encourages the contractor to be more closely involved in the project at an early stage, such as project design, and provides an incentive for the employer and contractor to share profit or loss if the costs differ from the original estimation.To utilise the Target Cost Version effectively, a more open style of control and management is required which will permit an early and joint approach to the identification and management of risks. This is intended to lead to better channels of communication at an early stage between client and contractor. The Target Cost version - the latest member of the ICE Conditions of Contract family - has been produced due to industry demand.
Author: Jack W.E. Masterman
Publisher: Routledge
ISBN: 1134577753
Category : Architecture
Languages : en
Pages : 152
Get Book
Book Description
First Published in 2003. Routledge is an imprint of Taylor & Francis, an informa company.
Author: Gregory A. Garrett
Publisher: Wolters Kluwer
ISBN: 0808018191
Category : Law
Languages : en
Pages : 306
Get Book
Book Description
The process of estimating the cost for the development and delivery of a product, service, or solution can range from simple to highly complex based upon multiple factors including: technology maturity, urgency, geographic location, quantity, quality, availability of resources, hardware and software, systems integration and more. This book provides a comprehensive discussion of cost estimating and contract pricing with extensive use of tools, techniques, and best practices from both the public and private sectors. Key topics of discussion include: Cost estimating methods Cost accounting standards Cost analysis Profit analysis Contract pricing arrangements Price analysis Total ownership cost Earned value management systems
