Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/3666
Title: Guaranteed maximum price (GMP) contracts in practice : a case study of a private office development project in Hong Kong
Authors: Chan, DWM 
Lam, TIP 
Chan, APC 
Wong, JMW
Issue Date: Mar-2011
Source: Engineering, construction and architectural management, 2011, v. 18 no. 2, p. 188-205
Abstract: Purpose – This paper aims to investigate the operational mechanism, project performance, motives behind, benefits, difficulties and success factors of adopting the guaranteed maximum price (GMP) scheme based on a real-life case study of Chater House, an international Grade A private office project in Hong Kong.
Design/methodology/approach – The case project was analysed by means of the related project documentation and a series of face-to-face interviews with the relevant senior project representatives.
Findings – All the interviewed key project stakeholders perceived that the GMP contract helped achieve competitive price, value for money and superior quality of products as well as provided stronger incentives to innovation and cost saving. The case study revealed that the overall success of this GMP project was underpinned by several key attributes.
Originality/value – The paper provides solid groundwork for client bodies and contracting organisations to develop a best practice framework for implementing successful GMP schemes in future construction.
Keywords: Hong Kong
Incentive schemes
Procurement
Publisher: Emerald Group Publishing Limited
Journal: Engineering, construction and architectural management 
ISSN: 0969-9988
EISSN: 1365-232X
DOI: 10.1108/09699981111111157
Rights: Engineering, Construction and Architectural Management © 2011 Emerald Group Publishing Limited
Appears in Collections:Journal/Magazine Article

Files in This Item:
File Description SizeFormat 
PolyU IR Submission 2011_ECAM_1.pdfPre-published version403.3 kBAdobe PDFView/Open
Access
View full-text via PolyU eLinks SFX Query
Show full item record
PIRA download icon_1.1View/Download Full Text

SCOPUSTM   
Citations

3
Last Week
0
Last month
0
Citations as of Aug 28, 2020

Page view(s)

572
Last Week
3
Last month
Citations as of Sep 21, 2020

Download(s)

3,622
Citations as of Sep 21, 2020

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.