Reliable short- to medium-term prediction of the tender price index (TPI) is crucial to construction stakeholders, and this has stimulated the interest of the research community to seek a more analytical method for TPI forecast. The purpose of this study is to establish an econometric model for...

Purpose-This paper aims to investigate the operational mechanism, project performance, motives behind, benefits, difficulties and success factors of adopting the guaranteed maximum price (GMP) scheme based on a real-life case study of Chater House, an international Grade A private office project...

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...

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....