A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong | Zendy

Chan Daniel W. M. | Zendy; Lam Patrick T. I. | Zendy; Chan Joseph H. L. | Zendy; Ma Tony | Zendy; Perkin Thomas | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong

Author(s) -

Chan Daniel W. M.,

Lam Patrick T. I.,

Chan Joseph H. L.,

Ma Tony,

Perkin Thomas

Publication year - 2012

Publication title -

project management journal

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.454

H-Index - 43

eISSN - 1938-9507

pISSN - 8756-9728

DOI - 10.1002/pmj.21255

Subject(s) - procurement , test (biology) , lump sum , questionnaire , empirical research , business , actuarial science , operations management , marketing , economics , sociology , finance , mathematics , social science , payment , statistics , paleontology , biology

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.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research