...Joseph H.L. Chan; Daniel W.M. Chan; Albert P.C. Chan; Patrick T.I. Lam Purpose There is a lack of empirical research on risk mitigation strategies for those construction projects procured by guaranteed maximum price contracts (GMP) and target cost contracts (TCC). The paper aims to identify...

...Joseph H.L. Chan; Daniel W.M. Chan; Albert P.C. Chan; Patrick T.I. Lam; John F.Y. Yeung Purpose The purpose of this paper is to develop a fuzzy risk assessment model for construction projects procured with target cost contracts (TCC) and guaranteed maximum price (GMP) contracts using factor...

...Daniel W.M. Chan; Albert P.C. Chan; Patrick T.I. Lam; James M.W. Wong Purpose The paper aims to present a succinct review of guaranteed maximum price (GMP) and target cost contracting (TCC) concepts and features in general, and to identify the critical success factors for procuring GMP/TCC...

... is two‐fold: firstly, a review of the literature highlights the limitations of fixed price, fixed unit price and variable (fee for service) type contracts and hence the need for contracts that incentivise project clients and contractors to act in mutually beneficial ways; secondly, the earned‐value...

...Linda Thomas‐Mobley; Non Khuncumchoo Purpose The purpose is to investigate the usefulness of standardized construction contracts for facilities managers. Design/methodology/approach Research methodologies include comprehensive literature review, examination of standard contracts and online...