Target Cost Multi-negotiation On Integrated Project Delivery

The target cost is the key to the success of the project delivery integrated.The target cost of IPD project needs to be calculated by the reasonable construction project budget and reasonable incentive pool.Although,the IPD project team has the feature of "risk sharing,benefit sharing",we need take all parties’ interests into consideration when exploring the target cost of the IPD project.The target cost of IPD project depends largely on the project budget and incentive pool size.In order to reasonably determine the target cost of the IPD project,the main content of this paper is on how to reasonably determine the cost of the project budget and how to reasonably determine the IPD project incentive pool size.As for budget cost of the project,thesis studies the BIM technology and compared domestic and international construction project budget models,including Vico office,Sville and Glodon etc.The budget cost of construction project budget based on BIM technology will be more reasonable and more valuable.As for the incentive pool size,this paper studied the N-Nash bargaining model.And the traditional utility function was taken place with foreground function,which can be a greater degree of psychological factors to consider IPD project participants,such as risk appetite,subjective value and so on.On the other hand,the IPD project incentive pool negotiation process is divided into two parts,one part is all IPD participants except from owner,the other part is all IPD participants.Finally,this paper proves the operability and rationality of the IPD project target cost through a case of IPD project.