Common use of Target Value Design Process Clause in Contracts

Target Value Design Process. The PMT and PITS will utilize the Target Value Design process to optimize and coordinate the design in accordance with the Owner's Program Objective 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. (a) The agreed Target Cost is a design criteria. (b) To the greatest extent practicable, the Contractor and its subcontractors 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 Risk/Reward Team Members, and the PMT, in making informed decisions about proposed design solutions.

Target Value Design Process. The PMT and PITS PITs will utilize the Target Value Design process to optimize and coordinate the design in accordance with the Owner's Base Program Objective 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. (a) The agreed Base Target Cost is a design criteria. (b) To the greatest extent practicable, the Contractor and its subcontractors will provide continuous cost projections and rapid cost evaluation of proposed design alternatives to the PITS PITs and PMT throughout the Target Value Design process to assist the Risk/Reward Team Members, and the PMT, in making informed decisions about proposed design solutions.