Financial incentives and advanced construction procurement systems
Construction clients often use financial incentives to encourage stakeholder motivation and commitment to voluntary higher-order project goals. Despite the increased use of financial incentives, there is little literature addressing means of optimizing outcomes. Using a case study methodology, the examination of a successful Australian construction project demonstrates the features of a positively geared procurement approach that promotes the effectiveness of financial incentives. The research results show that if the incentive system is perceived to be fair and is applied to reward exceptional performance, and not to manipulate, then contractors are more likely to be positively motivated.
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|Item Type:||Journal Article|
|Keywords:||goal commitment, financial incentives, contracts, motivation, construction projects, built environment|
|Subjects:||Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Building Construction Management and Project Planning (120201)|
|Divisions:||Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
|Copyright Owner:||Copyright 2010 Project Management Institute|
|Deposited On:||04 May 2010 22:29|
|Last Modified:||29 Feb 2012 14:03|
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