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Article Quality Management, Cost Management, Construction April 2012

Project Management Journal

A comparative study of the benefits of applying target cost contracts between South Australia and Hong Kong

By Chan, Daniel W. M. | Lam, Patrick T. I. | Chan, Joseph H. L. | Ma, Tony | Perkin, Thomas This paper aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracting (GMP/TCC) over and above the traditional lump-sum contractual arrangement…