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Choosing contractor payment terms

Ward, Stephen and Chapman, Chris (1994) Choosing contractor payment terms International Journal of Project Management, 12, (4), pp. 216-221. (doi:10.1016/0263-7863(94)90045-0).

Record type: Article


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.

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Published date: 1994
Keywords: contracts, risk allocation, incentives


Local EPrints ID: 35676
ISSN: 0263-7863
PURE UUID: 65dd2ccf-41dd-4822-a793-c8aacfb95724

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Date deposited: 26 Jun 2006
Last modified: 17 Jul 2017 15:47

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Author: Stephen Ward
Author: Chris Chapman

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