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Title: :  TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES
PaperId: :  3209
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 2 Issue 5 2016
DUI:    16.0415/IJARIIE-3209
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
PRASHANT KUMAR GANGWARDepartment of Civil Engineering University Institute of Engineering & Technology, Babasahab Bhimrao Ambedkar University, Lucknow, U.P, INDIA-226025
Satya Prakash PandeyDepartment of Civil Engineering University Institute of Engineering & Technology, Babasahab Bhimrao Ambedkar University, Lucknow, U.P, INDIA-226025

Abstract

Civil Engineering
Construction contracts, contract management, guaranteed maximum price contract, Target Cost contract, contract variation, Risk allocation
Contracting is a basic piece of construction ventures. Dealing with the agreements in this way is similarly vital for the accomplishment of any business procedure because of quick increment in numerous contracts. The customary strategy for overseeing contract includes dangers and confusion which incorporate insufficient data in contracts, lacking appointment of power and obligation, Misrepresentation, robbery, defilement, other deceptive exercises, correspondence hole, deferred budgetary choices accordingly hosing the advance of the venture, all because of manual intercession in overseeing contracts. This requires a need of orderly and a viable technique for contract administration. This paper talks about Target Cost contract TC contract & guaranteed maximum price or GMP contract, which is a proficient, straightforward and faultless idea of overseeing contracts. This procedure will streamline the business procedure by lessening the time taken to make, audit, execute and support contracts, along these lines facilitating exercises like following, focal stockpiling of contract archives, and decrease in debate, minimize dangers connected with manual information passage

Citations

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IJARIIE PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. "TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES" International Journal Of Advance Research And Innovative Ideas In Education Volume 2 Issue 5 2016 Page 1056-1063
MLA PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. "TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES." International Journal Of Advance Research And Innovative Ideas In Education 2.5(2016) : 1056-1063.
APA PRASHANT KUMAR GANGWAR, & Satya Prakash Pandey. (2016). TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES. International Journal Of Advance Research And Innovative Ideas In Education, 2(5), 1056-1063.
Chicago PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. "TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES." International Journal Of Advance Research And Innovative Ideas In Education 2, no. 5 (2016) : 1056-1063.
Oxford PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. 'TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES', International Journal Of Advance Research And Innovative Ideas In Education, vol. 2, no. 5, 2016, p. 1056-1063. Available from IJARIIE, http://ijariie.com/AdminUploadPdf/TARGET_COST_CONTRACT__GUARANTEED_MAXIMUM_PRICE_CONTRACT__AN_INNOVATIVE_APPAROCH_FOR_CONSTRUCTION_VENTURES_ijariie3209.pdf (Accessed : ).
Harvard PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. (2016) 'TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES', International Journal Of Advance Research And Innovative Ideas In Education, 2(5), pp. 1056-1063IJARIIE [Online]. Available at: http://ijariie.com/AdminUploadPdf/TARGET_COST_CONTRACT__GUARANTEED_MAXIMUM_PRICE_CONTRACT__AN_INNOVATIVE_APPAROCH_FOR_CONSTRUCTION_VENTURES_ijariie3209.pdf (Accessed : )
IEEE PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey, "TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES," International Journal Of Advance Research And Innovative Ideas In Education, vol. 2, no. 5, pp. 1056-1063, Sep-Oct 2016. [Online]. Available: http://ijariie.com/AdminUploadPdf/TARGET_COST_CONTRACT__GUARANTEED_MAXIMUM_PRICE_CONTRACT__AN_INNOVATIVE_APPAROCH_FOR_CONSTRUCTION_VENTURES_ijariie3209.pdf [Accessed : ].
Turabian PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. "TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 2 number 5 ().
Vancouver PRASHANT KUMAR GANGWAR, and Satya Prakash Pandey. TARGET COST CONTRACT& GUARANTEED MAXIMUM PRICE CONTRACT: AN INNOVATIVE APPAROCH FOR CONSTRUCTION VENTURES. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2016 [Cited : ]; 2(5) : 1056-1063. Available from: http://ijariie.com/AdminUploadPdf/TARGET_COST_CONTRACT__GUARANTEED_MAXIMUM_PRICE_CONTRACT__AN_INNOVATIVE_APPAROCH_FOR_CONSTRUCTION_VENTURES_ijariie3209.pdf
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