The Burgundy Book - Form of Contract: Target Cost Contracts / Edition 1 available in Paperback
- Pub. Date:
- Institution of Chemical Engineers, The
75.05 In Stock
The intention of a target cost contract is to encourage both parties in the contract to work together, finding ways of carrying out the work as efficiently as possible and to be rewarded as a result (i.e. pain/gain share). It sets out a procedure for arriving at a target cost that is sufficiently detailed to be used as the basis for effective control during the contract.