Chan Target Cost Contracting Strategy in Construction

Principles, Practices and Case Studies
Erscheinungsjahr 2016
ISBN: 978-1-317-22926-1
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 186 Seiten

Reihe: Spon Research

The problems inherent with 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 and Australia with the aim of achieving better value for money and more satisfactory overall project performance under a collaborative working relationship. Moreover, target cost contracts are considered to be a desirable procurement option where project risks are taken jointly by the employer and contractor.

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, 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, and significant factors which make target cost contracts successful, the key risk factors, risk assessment model, risk allocation and risk mitigation measures for target cost contracts in particular. A conceptual framework for the performance measurement of target cost contracts is also indicated in this book. A plethora of real-life case studies from the United Kingdom, Australia, New Zealand and Hong Kong are provided for 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.

Autoren/Hrsg.

Chan, Daniel W M

Chan, Joseph H. L.

Fachgebiete

• Technische Wissenschaften Bauingenieurwesen Baukonstruktion, Baufachmaterialien
• Wirtschaftswissenschaften Wirtschaftswissenschaften Wirtschaftswissenschaften: Allgemeines

Inhaltsverzeichnis

Part 1: Principles Of Target Cost Contracting 1. Fundamentals Of Target Cost Contracts 2. Target Cost Contracting: Development In Major Countries / Cities 3. Perceived Benefits Of Using Target Cost Contracts 4. Potential Difficulties In Implementing Using Target Cost Contracts 5. Critical Success Factors For Adopting Using Target Cost Contracts Part 2(A): Practices Of Target Cost Contracting 6. Key Risk Factors In Implementing Target Cost Contracts 7. Risk Factors In Implementing Target Cost Contracts 8. Risk Allocation In Target Cost Contracts 9. Risk Mitigation In Target Cost Contracts Part 2(B): Performance Measurement In Target Cost Contracts 10. A Conceptual Framework For Identifying Key Performance Indicators (Kpis) For Target Cost Contracts Part 3: Case Studies In Target Cost Contracts 11. Case Studies Of Target Cost Contracts

Über Autor(innen)

Daniel W.M. Chan is an Associate Professor in Construction Project Management at the Department of Building and Real Estate of The Hong Kong Polytechnic University.

Joseph H.L. Chan is a quantity surveyor by profession. He is also a Member of the Hong Kong Institute of Surveyors (MHKIS), Member of the Royal Institution of Chartered Surveyors (MRICS) and Member of the Hong Kong Institute of Project Management (MHKIPM).