Target price contracts and how to make them work
Language: English Series: Civil Engineering Surveyor ; September 2006, 33-37(5)Publication details: 2006Subject(s): Summary: Discusses target price contracts, whereby a target cost is agreed upon at the start of a project and then compared with the actual cost. Contractors can then share in any savings made, or contribute towards additional costs. Such an arrangement can be problematic because of the difficulty in setting a target price and the time consuming nature of dealing with the commercial side of the project. Guidance is offered as to how these problems can be overcome.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L134873 (Browse shelf(Opens below)) | 1 | Available | 134873-1001 |
Discusses target price contracts, whereby a target cost is agreed upon at the start of a project and then compared with the actual cost. Contractors can then share in any savings made, or contribute towards additional costs. Such an arrangement can be problematic because of the difficulty in setting a target price and the time consuming nature of dealing with the commercial side of the project. Guidance is offered as to how these problems can be overcome.