In light of increasing project complexity, constraints on programme schedule and limited budget, there exists a strong call for changes in contracting procedures in construction. Both the Guaranteed Maximum Price (GMP) and Target Cost Contracting (TCC) approaches with a gain-share/pain-share...

Fierce competition in the construction industry in China in recent years has brought many challenges to construction contractors. It is important that any potential company insolvency be recognized at the earliest opportunity. Using financial ratios and the Altman Z-score modelling methodology,...

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 contracts from the Hong Kong perspective in particular....