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A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong.
- Source :
- Project Management Journal; Apr2012, Vol. 43 Issue 2, p4-20, 17p, 5 Charts, 2 Graphs
- Publication Year :
- 2012
-
Abstract
- This article aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracts (GMP/TCC) over and above the traditional lump-sum contractual arrangement through an empirical questionnaire survey conducted in South Australia and compared with the findings in Hong Kong. The Mann-Whitney U Test indicated differences in perception between the two groups of respondents on the majority of the identified benefits. The study has provided an in-depth understanding of the perceived benefits of the GMP/TCC scheme, hence leading to a wider application of those alternative integrated procurement strategies in both regions for reference by the construction community at large. [ABSTRACT FROM AUTHOR]
- Subjects :
- CONSTRUCTION costs
CONSTRUCTION industry
CONTRACTS
Subjects
Details
- Language :
- English
- ISSN :
- 87569728
- Volume :
- 43
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Project Management Journal
- Publication Type :
- Academic Journal
- Accession number :
- 73320899
- Full Text :
- https://doi.org/10.1002/pmj.21255