- Author
-
Howard, W. E.
|
Bell, L. C.
- Title
- Innovative Strategies for Contractor Compensation.
- Coporate
- Clemson Univ., SC
- Report
-
Research Report 114-11
January 1998
326 p.
- Keywords
-
construction
|
economic factors
- Abstract
- Recognizing potential for improvement in contractor performance relative to owner success factors, the Construction Industry Institute formed the Cointractor Compensation Research Team in 1994. This report describes results of research conducted in conjunction with the Research Team to identify innovative compensation methods that can dramatically improve engineering and construction contractors' performance relative to facility owners' objectives. Research methodology included a review of relevant literature in construction engineering and economics, a survey of owners and contractors to identify innovative compensation mechanisms in use, structured interviews of capital project teams to explore contract terms and their impact on performance, a national Owner/Contractor workshop, and collection and documentation of innovative strategies employed successfully by owner/contractor teams. Fourteen case studies of successful projects are presented.