Target Cost Contracting Strategy in Construction
Language: English
Published by Taylor and Francis Ltd, GB, 2020
Series: Book 22 of 35 - Spon Research
- Softcover
- New
Seller: Rarewaves.com USA, London, London, United KingdomRarewaves.com USA
AbeBooks seller since June 11, 2025
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Add to basketItem description from seller
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.…
Seller Inventory # LU-9780367736743
- Title
- Target Cost Contracting Strategy in Construction
- Author
- Daniel W.M. Chan, Joseph H.L. Chan
- Publisher
- Taylor and Francis Ltd, GB
- Publication year
- 2020
- Condition
- New
- Binding
- Paperback
- Language
- English
- ISBN 10
- 0367736748
- ISBN 13
- 9780367736743
- Item weight
- 350 grams
- Series
- Book 22 of 35: Spon Research
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.
"Synopsis" may belong to another edition of this title.
About the Author
Daniel W.M. Chan is Associate Professor in Construction Project Management and the Associate Head (Teaching and Learning) at the Department of Building and Real Estate at The Hong Kong Polytechnic University. He has published over 200 research papers on the broad theme of project management in leading construction management journals and international conference proceedings.
Joseph H.L. Chan is Lecturer in Housing Management at the School of Professional Education and Executive Development (SPEED) at The Hong Kong Polytechnic University. To date, he has produced over twenty publications including journal papers, international conference papers, consultancy reports and other written outputs related to construction procurement management.
"About the title" may belong to another edition of this title.
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