Time-related Incentive and Disincentive Provisions in Highway Construction Contracts PDF Download
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Author: Gary J. Fick Publisher: Transportation Research Board ISBN: 0309154782 Category : Business & Economics Languages : en Pages : 76
Book Description
This report will be of interest to state and local highway agency construction managers and contractors with regard to learning about best practices of time-related incentive and disincentive contract provisions and their effect on staffing levels, productivity, project cost, quality, contract administration, and the contractor's operations and innovations. The report also presents a decision process guide to use as a template for crafting the incentive/disincentive provisions.
Author: Gary J. Fick Publisher: Transportation Research Board ISBN: 0309154782 Category : Business & Economics Languages : en Pages : 76
Book Description
This report will be of interest to state and local highway agency construction managers and contractors with regard to learning about best practices of time-related incentive and disincentive contract provisions and their effect on staffing levels, productivity, project cost, quality, contract administration, and the contractor's operations and innovations. The report also presents a decision process guide to use as a template for crafting the incentive/disincentive provisions.
Author: Andrew R. Mackley Publisher: ISBN: Category : Electronic Dissertations Languages : en Pages : 58
Book Description
Incentive/disincentive clauses (I/D) are designed to award payments to contractors if they complete work ahead of schedule and to deduct payments if they exceed the completion time. A previously unanswered question is, "Did the costs of the actual work zone impacts that were avoided justify the incentives paid?" This paper answers that question affirmatively based on an evaluation of 20 I/D projects in Missouri from 2008 to 2011. Road user costs (RUC) were used to quantify work zone impacts and included travel delays, vehicle operating costs, and crash costs. These were computed using work zone traffic conditions for partial-closure projects and detour volumes and routes for full-closure projects. Conditions during construction were compared to after construction. Crash costs were computed using Highway Safety Manual methodology. Safety Performance Functions produced annual crash frequencies that were translated into crash cost savings. In considering an average project, the percentage of RUC savings was around 13% of the total contract amount, or $444,389 of $3,464,620. I/D provisions were very successful in saving RUC for projects with full-closure, projects in urban areas, and emergency projects. Rural, non-emergency projects successfully saved RUC but not at the same level as other projects. The I/D contracts were also compared to all Missouri Department of Transportation contracts for the same time period. The results show that I/D projects had a higher on-time completion percentage and a higher number of bids per call than average projects. But I/D projects resulted in 4.52% higher deviation from the project budget and possibly more changes made after the award. A survey of state transportation departments and contractors showed that both agreed to the same issues that contribute to the success of I/D contracts. Overall, in terms of work zone impact mitigation, I/D contracts are very beneficial at a relatively low cost.
Author: Thomas McDonald Publisher: ISBN: Category : Roads Languages : en Pages : 0
Book Description
There is an urgent need to complete projects in high traffic urban areas in the shortest possible time. These road user benefits resulting from faster construction will minimize public inconvenience, safety hazards and a total cost to the public. The incentive - disincentive clause in the contract will encourage the contractor to expedite all phases in the contract. A copy of this special provision is part of this work plan and other details of construction are included in the plan and specification of Project F-65-4(34)--20-77.
Author: Qian Gu Publisher: ISBN: Category : Languages : en Pages : 28
Book Description
We examine how controlling owners' family considerations affect their new industry entry decisions in family business groups in emerging economies. Drawing on the socioemotional wealth (SEW) approach, we conceive the new industry entry decision as controlling owners' response to pursue various family interests. In particular, we distinguish two aspects of SEW, focused SEW and broad SEW, and theorize their opposing effects on the new industry entry decision. We propose that controlling owners' likelihood to pursue new industry entry is negatively influenced by the exercise of family influence (a representative of the focused SEW) but is positively associated with the succession of family dynasty (a typical form of the broad SEW). Furthermore, we argue that the effects of SEW preservation on such decisions are contingent on controlling owners' generation, with the effects to be stronger when the founder generation is in control. We test these hypotheses with a sample of Taiwanese family business groups and find general support for our predictions.
Author: Gary J. Fick
Author: Gary J. Fick
Author: Brent Charles Leverett
Author: Firuzan Yasamis
Author: David Arditi
Author: Erling E. Boe
Author: Andrew R. Mackley
Author: Thomas McDonald
Author: John Cibinic (Jr.)
Author: Qian Gu
Author: John Michael Lerner