More than ever before, construction teams must respond to uncharted waters and undefined work scopes by making the strategic choice to invest in relationships, freely share valuable knowledge, and thoughtfully build trust and alignment. By working collaboratively, we can meet the challenges and we can seize the opportunities.
This recently-posted best practice will provide you with a model and a toolkit to help your company navigate the coming months TOGETHER with others on your construction team.
To introduce the best practice, we produced a series of 3 webinars that lead you through:
•An overview of successful forms of collaborative contracting and how they have been used in construction projects to manage uncertainty and risk, and protect value;
•How to outline the “opportunity case” for collaboration and drive positive change;
•How to make the shift from traditional to collaborative contracting in practice;
On May 6th you were introduced to the “What” and “Why” of Collaborative Contracting. Subsequent webinars on May 19th and May 27th, respectively titled “Getting Together” and “Staying Together”, explored the “How” of Collaborative Contracting. The materials for these webinars are available on the COAA website. These 3 webinars addressed general aspects of collaborative contracting – but did not address specifics or explore complexities.
We have since developed a subsequent group of webinars to delve into more “detailed” topics. Our next Webinar - Collaborative Contracting Compensation Models - will explore the following:
•Key principles relevant to compensation models used in Collaborative Contracting;
•Exploration of various compensation models commonly seen in Collaborative Contracts;
•Explore how target price is built-up during the Collaborative Contracting process;
•Discuss how risk is estimated and allocated and subsequently linked to behaviours and financial incentives that promote alignment in Collaborative Contracting context