creator Chen, Juan creator Menches, Cindy L. Reducing project duration is a significant concern for many industries in the speed-to-market era. Numerous studies have examined the effects of project delivery methods on speeding up the process of construction. However, no study has quantitatively compared the effect of using different compensation strategies on schedule duration and schedule reduction. Using the data obtained from 175 international construction projects, this paper focuses on examining the influence of compensation strategy (lump sum versus reimbursable) on project duration while specifically taking into account the industry sector (heavy industrial versus light industrial). The results of the study provide empirical evidence that using a reimbursable compensation strategy can potentially shorten the procurement duration, construction duration, and overall project duration of heavy industrial projects. However, reimbursable contracting did not appear to reduce the project duration on light industrial projects. Submitted by Cindy Menches (cmenches@iit.edu) on 2012-06-29T14:22:16Z No. of bitstreams: 1 Empirical Comparison of LS and RC.Working Paper.pdf: 140424 bytes, checksum: b77921af962a2c4bb725857cd4d21666 (MD5) Made available in DSpace on 2012-06-29T14:22:16Z (GMT). No. of bitstreams: 1 Empirical Comparison of LS and RC.Working Paper.pdf: 140424 bytes, checksum: b77921af962a2c4bb725857cd4d21666 (MD5) Previous issue date: 2012-05-01 2012-05-01 2012-05-01

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http://hdl.handle.net/10560/2782 en Compensation strategy Project duration Project control Reimsursable contracting Lump sum contracting Technical report born digital application/pdf In Copyright http://rightsstatements.org/page/InC/1.0/ Open Access CAEE / Civil, Architectural, and Environmental Engineering Illinois Institute of Technology Affiliated department