Abstracts – Browse Results
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Aniekwu, A N and Okpala, D C (1988) Contractual arrangement and the performance of the Nigerian construction industry (the structural component). Construction Management and Economics, 6(01), 3-11.
McFillen, J M and Maloney, W F (1988) New answers and new questions in construction worker motivation. Construction Management and Economics, 6(01), 35-48.
Ofori, G (1988) Construction industry and economic growth in Singapore. Construction Management and Economics, 6(01), 57-70.
Potts, K F (1988) An alternative payment system for major 'fast track' construction projects. Construction Management and Economics, 6(01), 25-33.
- Type: Journal Article
- Keywords: bills of quantity; fast track; milestone; payment
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446198800000004
- Abstract:
In the UK, construction contractors are generally reimbursed on a monthly basis reflecting the value of work done on site plus payments for agreed offsite components. If the contractor is behind programme and even if he completes late he will still be reimbursed based on the value of work done calculated using the original itemized bid price. The only way clients can influence progress of the project is to claim from the contractor predetermined liquidated and ascertained damages in the event of late completion. These damages can only be charged after completion which may be a hollow compensation, most clients preferring their projects completed on time. This paper describes an alternative payment system for use on major fast track projects in which the contractor is financially motivated to achieve satisfactory progress throughout the period together with completion on time. The system is based on the concept of predetermined percentages which are applied on a monthly basis to each major section of the project but only if the section’s relevant ‘milestones’ have been met during the period considered. The system as described has been satisfactorily used on a major international multi contract, multi disciplined fast track construction project with individual contracts up to £100m in value. The overall project was completed on time and within budget.
Runeson, G (1988) Methodology and method for price-level forecasting in the building industry. Construction Management and Economics, 6(01), 49-55.
Skitmore, M R and Marsden, D E (1988) Which procurement system? Towards a universal procurement selection technique. Construction Management and Economics, 6(01), 71-89.
Tucker, S N (1988) A single alternative formula for Department of Health and Social Security S-curves. Construction Management and Economics, 6(01), 13-23.