Collaborative Project Delivery Team

Contract Basis:

• Tri-Party Agreement, the Owner, designer and constructor sign the Agreement at the inception of the project, binding them to collaborate in the planning, design, development and construction of the project and a sharing of project risks and rewards different than traditional projects. Compensation for parties in the IPD delivery method, other than the owner, is typically comprised of three components: Cost reimbursement to cover costs, incentive for achieving or bettering agreed project cost targets, and rewards for accomplishing set project goals. Ideally all costs, bases of costs, and cost inputs from all parties to the contract(s) are fully open-book in nature; and all incentive and goal achievement compensation will be agreed to by the team and incorporated in the contracts in advance. There is no guaranteed maximum price or lump sum.