Basically, the contract goal throughout the process is getting the best value possible for a reasonable cost. Your company, New Vision, understands that new systems exist today that reduce construction costs while improving construction quality. Additionally, this project will produce the same kind of technological jump, and infuse "smart systems" into the community that will greatly improve not only the housing program itself, but also the environment. The contractor will participate in an incentive award fee process that rewards the successful implementation of this goal. It must be measurable and verifiable.
Secondly, New Visions has reviewed the complexities of this project and determined that with a moderate risk project, the proposed two-year development process is most favorable for a project of this size within the region. However, early completion is desired. Therefore New Visions has established the following incentive award fee for the contractor, in the event of an early completion.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.