Choosing contractor payment terms
Ward, Stephen and Chapman, Chris (1994) Choosing contractor payment terms. International Journal of Project Management, 12, (4), 216-221. (doi:10.1016/0263-7863(94)90045-0).
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The paper considers how far contractual payment terms can be effective in producing project performance for a client. The mitigation of typical problems of contractor selection, motivation and risk sharing between client and contractor are examined in the context of cost plus fixed fee contracts, firm fixed price contracts, and incentive contracts.
The latter offer possible solutions to the widely acknowledged difficulties with cost plus fixed fee contracts and firm fixed price contracts. However, there are other difficulties with operating incentive contracts in practice, and these are considered in the paper.
|Keywords:||contracts, risk allocation, incentives|
|Subjects:||H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management|
|Divisions:||University Structure - Pre August 2011 > School of Management
|Date Deposited:||26 Jun 2006|
|Last Modified:||27 Mar 2014 18:22|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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