Performance‐Based Contracting: an alternative approach to transacting in construction

Cost versus quality has often been presented as if it were a zero sum game — ‘If I gain in terms of quality then I will hare to lose in terms of the money I need to spend’.In reality most design teams would contend that this is not necessarily true but find that they lack the technique to evaluate the proper balance between cost and quality in order to achieve value for their client. This paper outlines the problem and a possible framework for investigating a marginal increase in design quality against cost at the critical stage before drawn information is provided.