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Preferred risk allocation in target cost contracts in construction

机译：施工目标成本合同中的优先风险分配

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摘要

Purpose - The purpose of this paper is to identify the party most preferred to take the risks associated with the target cost contracts and guaranteed maximum price contracts (TCC/GMP) in the Hong Kong context. Design/methodology/approach - An empirical questionnaire survey was conducted with the relevant industrial practitioners to solicit their preferences of risk allocation in TCC/GMP construction projects in Hong Kong. Findings - The survey findings indicated that risks on tender documentation and project design are better borne by clients, while construction related risks are perceived to be taken by contractors. The research findings are consistent with other similar studies on risk allocation in construction projects in general. Practical implications - This paper has developed a preferred risk allocation scheme for the delivery of future TCC/GMP projects, taking Hong Kong as an example. It can serve as a useful guide for decision makers to determine an optimal risk allocation at the planning stage of a TCC/GMP scheme. Originality/value - The paper can benefit both academic researchers and industrial practitioners in generating an equitable risk sharing mechanism for TCC/GMP projects. It provides sufficient empirical evidence, added to the growing body of knowledge and lays a solid foundation for further research such as an international comparison of various risk allocation schemes associated with this kind of contractual arrangement.
机译：目的-本文的目的是确定在香港背景下最愿意承担与目标成本合同和保证最高价格合同（TCC / GMP）相关的风险的一方。设计/方法/方法-与相关行业从业人员进行了经验问卷调查，以征询他们对香港TCC / GMP建设项目中风险分配的偏好。调查结果表明，招标文件和项目设计的风险最好由客户承担，而与施工相关的风险则由承包商承担。研究结果与其他有关建设项目风险分配的类似研究一致。实际意义-本文以香港为例，为交付未来的TCC / GMP项目制定了优先的风险分配方案。它可以作为决策者在TCC / GMP计划的规划阶段确定最佳风险分配的有用指南。原创性/价值-本文可以为TCC / GMP项目建立公平的风险分担机制，使学术研究人员和行业从业人员都受益。它提供了足够的经验证据，增加了不断增长的知识，并为进一步研究奠定了坚实的基础，例如与这种合同安排相关的各种风险分配方案的国际比较。

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