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1、ThisisthePre-PublishedVersion.JournalofFacilitiesManagement(JFM)(FinalAcceptedManuscript),Volume10,Issue1,February2012,Pages6-25Riskmitigationstrategiesforguaranteedmaximumpriceandtargetcostcontractsinconstruction–Afactoranalysisapproach1*23JosephH.L.Chan;DanielW.M.Chan
2、;AlbertP.C.Chan;4andPatrickT.I.Lam1ResearchAssociate,DepartmentofBuildingandRealEstate,TheHongKongPolytechnicUniversity,HungHom,Kowloon,HongKong,China(email:chljoseph@hotmail.com)2AssociateProfessor,DepartmentofBuildingandRealEstate,TheHongKongPolytechnicUniversity,Hung
3、Hom,Kowloon,HongKong,China(email:bsdchan@inet.polyu.edu.hk)3ProfessorandAssociateDean,FacultyofConstructionandEnvironment,TheHongKongPolytechnicUniversity,HungHom,Kowloon,HongKong,China(email:bsachan@inet.polyu.edu.hk)4AssociateProfessor,DepartmentofBuildingandRealEstat
4、e,TheHongKongPolytechnicUniversity,HungHom,Kowloon,HongKong,China(email:bsplam@inet.polyu.edu.hk)*Correspondingauthor:JosephH.L.ChanJosephH.L.Chancanbecontactedatemail:chljoseph@hotmail.com1JournalofFacilitiesManagement(JFM)(FinalAcceptedManuscript),Volume10,Issue1,Febr
5、uary2012,Pages6-25Riskmitigationstrategiesforguaranteedmaximumpriceandtargetcostcontractsinconstruction–AfactoranalysisapproachAbstractPurpose–Thereisalackofempiricalresearchonriskmitigationstrategiesforthoseconstructionprojectsprocuredbyguaranteedmaximumpricecontracts(
6、GMP)andtargetcostcontracts(TCC).ThepaperaimstoidentifyandanalysetheriskmitigationstrategiesforGMP/TCCconstructionprojectsfromtheHongKongperspective.Design/methodology/approach–Atotalof94industrialpractitionerswithbothsoundknowledgeandabundanthands-onexperienceoftheGMP/T
7、CCmethodologyparticipatedinanindustry-wideempiricalquestionnairesurveytoindicatetheirlevelsofagreementonthose18riskmitigationstrategiesidentifiedfromreportedliteratureandin-depthinterviewswhichwerelateranalysedbyfactoranalysis.Findings–Theresultsoffactoranalysisrevealed
8、thatthe18individualriskmitigationstrategiescanbeconsolidatedinto7underlyinggroupedfactors:(1)Relationalcontrac
