Developing a performance measurement index (PMI) for target cost contracts in construction : a Delphi study

Abstract

Presents the findings of a research study which used a Delphi survey technique to identify the key performance indicators (KPIs) for evaluating the effectiveness of target cost contracts (TCC) in Hong Kong's construction industry. Outlines the definition of TCC, the Delphi research methodology applied in the study, the criteria for selecting the relevant panel of experts, key features of the four rounds of surveys used, and the main results. Discusses the seven KPIs identified, including mutual trust between the project partners and contractor involvement in project design.