Common use of Target Value Design Process Clause in Contracts

Target Value Design Process. The IPD Team, under the direction of the PMT, will use the Target Value Design process to optimize and coordinate the design in accordance with the Base Program and endeavor to create additional value by identifying alternative systems, means, and methods to reduce capital expenditures and life-cycle costs, analyze and improve work-flow, improve constructability and functionality, provide more operational flexibility, and endeavor to reduce the actual Chargeable Costs while maintaining or increasing the quality and overall function of the Project. To the greatest extent practicable, the General Contractor and the relevant IPD Team Members will provide continuous cost projections and rapid cost evaluation of proposed design alternatives to the PITS and PMT throughout the Target Value Design process to assist the IPD Team Members, and the PMT, in making informed decisions about proposed design solutions.