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PERFORMANCE CONTRACTING

PERFORMANCE CONTRACTING. A SPLIT PERSONALITY CONTRACTOR’S PERSPECTIVE. KEY POINTS OF PERFORMANCE BASED CONTRACTING. Means of promoting innovation Reallocates more risk to contractor Suggests using “Best Value Award” Performance goals should target: Improving safety

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PERFORMANCE CONTRACTING

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  1. PERFORMANCE CONTRACTING A SPLIT PERSONALITY CONTRACTOR’S PERSPECTIVE

  2. KEY POINTS OF PERFORMANCE BASED CONTRACTING • Means of promoting innovation • Reallocates more risk to contractor • Suggests using “Best Value Award” • Performance goals should target: • Improving safety • Reducing congestion due to construction • Improving quality • Improving user satisfaction

  3. DIFFERENT ABILITIES REQUIRED FOR CONTRACTORS TO SUCCEED • Engineering resource (in house) • Research capabilities or experience • Sophisticated planning & scheduling • Financial & bonding strength • Staff to respond to “Best Value” RFP

  4. CONCLUSIONS • Performance Contracting can provide increased value in certain situations • You need to be aware of the abilities of your contracting community • It will probably reduce the number of bidders you get on a project

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