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We present a novel optimisation approach for incentive contract design within a project setting. the structure of the remuneration is one of the key challenges faced by the project owner when (s)he decides to hire a contractor. The proposed technique builds on the recently proposed contract design methodology by Kerkhove and Vanhoucke (Omega, 2015). Specifically, a novel multi-objective scatter search...
Due to the adoption of more and more complex incentive contract structures for projects, designing the best contract for a specific situation has become an increasingly daunting task for project owners. Through the combination of findings from contracting literature with knowledge from the domain of project management, a quantitative model for the contract design problem is constructed. The contribution...
The authors have observed that traditional requirements engineering practices are inadequate to support large projects that are defined by a contract. Unlike a product development effort, contract requirements are not at a uniform level so the typical “V” model for tracing does not work well. Other important attributes of contracts such as penalty clauses, contract options, incentive payments, regulatory...
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