Target Value Design definition

Target Value Design is a design discipline that requires project values, cost, schedule, and constructability to be basic components of the design criteria, and uses cost targets to drive innovation in designing a project to provide optimum value to an owner. Target Value Design uses constructability and cost information from the Risk/Reward Team before design decisions are made to allow the design to progress within the Target Cost and Contract Time.
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Target Value Design process for the Project shall comply with the definition and requirements then in effect of the Lean Construction Institute, as may be amended during the Project.
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Target Value Design means a method for setting project targets and steering design and construction towards them. This is a lean project delivery approach where integrated teams collaborate though the design and build processes to optimize project delivery through value-based decisions and real market cost input to significantly improve value and
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Examples of Target Value Design in a sentence

  • Target Value Design is a design discipline that requires project values, cost, schedule, and constructability to be basic components of the design criteria, and that uses cost targets to drive innovation in designing a project to provide optimum value to the Owner.

  • The Target Value Design goals are defined at the onset of the Project, continuously reinforced by Architect, Owner, and Contractor for the duration of the Project, and used to guide the design process to a successful conclusion.

  • The Target Value Design goals are defined at the onset of the Project, continuously reinforced by Engineer, Owner, and Contractor for the duration of the Project, and used to guide the design process to a successful conclusion.

  • Judicial Council will review a submitted Periodic Cost Estimate to determine whether Design Build Entity is designing the Project consistent with the Target GMP and complying with the Target Value Design approach.

  • Design Build Entity shall design the Project utilizing the Target Value Design approach.

  • Design Build Entity shall establish target cost values for components of the building in accordance with Uniformat and utilize the principles of Target Value Design throughout the Design Work to ensure estimates do not exceed the target costs or the Target GMP.

  • Utilizing the Target Value Design approach, Design Build Entity shall update the estimated cost of Construction Work in accordance with Uniformat and the TGMP/GMP Preparation Form at reasonable intervals, not to exceed every three (3) weeks.

  • Design Build Entity shall design the Project utilizing Lean Project Delivery Methods, including, without limitation, the Target Value Design approach, to ensure the Project design is consistent with the Performance Criteria Documents and does not exceed the Target GMP.

  • Value Engineering Proposals shall be a primary focus of the Target Value Design clusters and shall be the basis of set-based design.

  • As a part of the Target Value Design, the initial Core Group will establish an acceptable Owner’s Contingency to be used to fund some or all of Owner’s obligations under Article 24.


More Definitions of Target Value Design

Target Value Design or “TVD” is a design methodology that requires Project values, cost, quality, schedule, and constructability to be basic components of the design criteria, and uses cost targets to drive innovation in designing a project that provides optimum value to Owner.
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Related to Target Value Design

  • Target Value shall have the meaning stated in Section 7.2 of Schedule D to this Agreement.

  • Target Price means the estimated amount payable to the Contractor for the performance of the Work under a Cost Plus Fixed Fee (CPFF) Contract.

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • target unit means a facility or group of facilities to which an underlying agreement applies; “tCO2 equivalent” means tonnes of carbon dioxide equivalent;

  • Performance Targets means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

  • Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Class D Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class D Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Net Asset Value per Share means the Net Asset Value of a Fund divided by the

  • Target Population means persons with low incomes who have one or more disabilities, including mental illness, HIV or AIDS, substance abuse, or other chronic health condition, or individuals eligible for services provided pursuant to the Lanterman Developmental Disabilities Services Act (Division 4.5 (commencing with Section 4500) of the Welfare and Institutions Code) and may include, among other populations, adults, emancipated minors, families with children, elderly persons, young adults aging out of the foster care system, individuals exiting from institutional settings, veterans, and homeless people.

  • Goal means the intended or projected result of a comprehensive corrections plan or community corrections program to reduce prison commitment rates, to reduce the length of stay in a jail, or to improve the utilization of a jail.

  • Adjusted EPS means earnings per share further adjusted for share-based payments, amortization of acquired intangible assets, items outside the normal scope of our ordinary activities (including other items, within selling, general and administrative expenses, losses/(gains) on items held at fair value and remeasurements through profit and loss, impairment losses on tangible assets, and impairment losses on intangible assets) and the related tax effects of these adjustments. Adjusted EPS provides a basis for comparison of our business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. Adjusted EPS may not be comparable to other similarly titled metrics of other companies.

  • Minimum Sale Price means (i) with respect to a Receivable (x) that has become 60 to 210 days delinquent or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has been repossessed by the Servicer and has not yet been sold at auction, the greater of (A) 55% multiplied by the Principal Balance of such Receivable and (B) the product of the three month rolling average recovery rate (expressed as a percentage) for the Servicer in its liquidation of all receivables for which it acts as servicer, either pursuant to this Agreement or otherwise, multiplied by the Principal Balance of such Receivable or (ii) with respect to a Receivable (x) with respect to which the related Financed Vehicle has been repossessed by the Servicer and has been sold at auction and the Net Liquidation Proceeds for which have been deposited in the Collection Account, or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has not been repossessed by the Servicer despite the Servicer’s diligent efforts, consistent with its servicing obligations, to repossess the Financed Vehicle, $1.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • KPI Target means the acceptable performance level for a KPI as set out in each KPI;

  • Established catalogue price means the price included in a catalogue, price list, schedule, or other form that:

  • Targets means pre-agreed values to be achieved at the end of the period in relation to the result indicators included under a specific objective;

  • Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

  • Baseline Value for each of the Company and the Peer Companies means the dollar amount representing the average of the Fair Market Value of one share of common stock of such company over the five consecutive trading days ending on, and including, the Effective Date.

  • Net Asset Value per Unit means the Net Asset Value of a Fund divided by the number of Units of a Fund outstanding on the date of calculation.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • SPS AER Value means the Underlying Reference Value.

  • Market Value Adjustment means, on a given date, an amount equal to the lesser of (x) 98% and (y) a percentage determined according to the following formula: Market Value Adjustment = 98% – [(10yrCMTt – 10yrCMTlaunch) ×Duration], where 10yrCMTt = the 10-Year Treasury Constant Maturity Rate published each business day by the Board of Governors of the Federal Reserve System, or, if such rate ceases to be published, a successor rate reasonably determined by the Trustees (the “10-Year CMT”), on such repurchase date; 10yrCMTlaunch = the 10-Year CMT as of the end of the Initial Offering Period; and Duration = an estimate of the duration of the periodic interest payments of a hypothetical coupon-paying U.S. Government Security with a 25-year maturity, calculated by the Trust’s Investment Manager as of the end of the Initial Offering Period;