Target Cost Sample Clauses

A target-cost clause establishes a predetermined cost baseline for a project or contract, against which actual costs are measured. In practice, this clause sets a target amount that both parties agree upon, and any cost savings or overruns are typically shared between the parties according to a specified formula. The core function of a target-cost clause is to incentivize cost control and efficiency, aligning the interests of both parties to manage expenses and avoid budget overruns.
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Target Cost. If Architect and CM/GC are directed to proceed with the Target Value Design and preparation of the Target Cost pursuant to Section 9.5, the Core Group, in conjunction with the Senior Management Team, shall establish a milestone date for development of the Target Cost for the Project. The Architect, in collaboration with the IPD Team Members, shall develop and submit the Target Cost to the Core Group for approval. The Target Cost shall be based upon the Owner’s Project Business Case, the Validation Study, and the Target Value Design Plan. The Target Cost and CM/GC's cost models shall include an estimate, based on the information then available, of the following: 10.1.1 total cost to Owner of all elements of the Cost of the Work for the Project, including the total costs of professional services, labour, materials and supervision to be furnished by Architect and CM/GC during the Validation Phase, Design and Procurement Phase, the Construction Phase, and the Post-Construction Phase; 10.1.2 At-Risk Amounts; 10.1.3 [Not Used]; 10.1.4 [Not Used]; 10.1.5 IPD Team Contingency; 10.1.6 [Not Used];
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Target Cost. The Target Cost: approved by the Contract Administrator under clause 6.2(d); or agreed or determined under clause 6.7(d)(iii), and set out in the Contract Particulars (Delivery Phase), which is to comprise: the Contractor's Work Fee (Planning); the Management Fee; the Contractor's Work Fee (Delivery); and the Target Reimbursable Costs.
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Target Cost. 7 7. CHANGES IN THE SCOPE OF WORK ....................................... 8 8.
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Target Cost. Description: here the Parties would agree a budget and then work would be carried out by the Service Provider in a mix of time and materials and fixed price models with it being agreed that the Service Provider would not charge more than the target cost. Such target cost may be linked to assumptions and dependencies.
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Target Cost. 6.1 The SUPPLIER agrees to work in a cooperative manner with CLAR▇ ▇▇ design each Instrument Pod to Achieve a Target Cost on a manufactured basis set forth in 6.3 below. 6.2 The SUPPLIER shall maintain an up-to-date bill ▇▇ material (BOM) based on SUPPLIER'S standard costs of materials and labor for each version of the Instrument Pod including assembly labor. The BOM for each Instrument Pod shall be available for CLAR▇'▇ ▇▇▇pection upon request. CLAR▇ ▇▇▇ SUPPLIER shall conduct a cost review of each BOM upon the completion of the prototype Milestone set forth in Article 5 (i). 6.3 Each cost review in 6.2 is an early warning indicator of whether future production costs will be reduced on a per-unit basis to be at or below Target Cost. At each cost review, CLAR▇ ▇▇▇ll decide whether to continue the development of the existing designs, revise the design specifications to further reduce the projected unit cost, terminate one or more of the Instrument Pod developments, in whole or in part, without terminating the others, or terminate the Agreement because in the opinion of CLAR▇, ▇▇e SUPPLIER will be unable to meet the Target Cost for one or more of the Instrument Pods. The Target Costs for each Instrument Pod design for the applicable truck chassis are as follows: DESIGN TARGET TARGET TARGET VERSION COST (1) COST (2) COST (3) ------- -------- -------- -------- (Per Pod) (Per Pod) (Per Pod) Diesel $99.75 $95.00 $92.15 Gas $99.75 $95.00 $92.15 LPG $93.45 $89.00 $86.33 Target Cost: (1) up to 12,110 units; (2) from 12,111 to 17,300 units; and (3) from 17,301 to 22,490 units of production of all design versions for 12 calendar months. 6.4 The Target Cost does not include the incremental cost of optional rocker switches, or connector interfaces, which upon approval by CLAR▇, ▇▇all be added to the applicable Target Cost.
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Target Cost. 3.4.1. The solution shall have a design cost less than 10 USD and It should include sensors and interface electronics.
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Target Cost. The Owner and Risk/Reward Team Members will jointly and collaboratively develop a Target Cost that incorporates all Chargeable Costs, to design and construct the Project based on the Owner's Program Objective. Any ICL Milestone distributions will be measured against the Target Cost. The Target Cost is part of the Project Objective and will be amended into the Agreement as Exhibit B-2.
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Target Cost 
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Related to Target Cost

  • Project Cost An updated cost spreadsheet reflecting the current forecasted cost vs. the latest approved budget vs. the baseline budget should be included in this section. One way to track project cost is to show: (1) Baseline Budget, (2) Latest Approved Budget, (3) Current Forecasted Cost Estimate, (4) Expenditures or Commitments to Date, and (5) Variance between Current Forecasted Cost and Latest Approved Budget. Line items should include all significant cost centers, such as prior costs, right-of-way, preliminary engineering, environmental mitigation, general engineering consultant, section design contracts, construction administration, utilities, construction packages, force accounts/task orders, wrap-up insurance, construction contingencies, management contingencies, and other contingencies. The line items can be broken-up in enough detail such that specific areas of cost change can be sufficiently tracked and future improvements made to the overall cost estimating methodology. A Program Total line should be included at the bottom of the spreadsheet. Narratives, tables, and/or graphs should accompany the updated cost spreadsheet, basically detailing the current cost status, reasons for cost deviations, impacts of cost overruns, and efforts to mitigate cost overruns. The following information should be provided:

  • At Cost Any of the above services when performed outside regular working hours of Agent may be billed at 150 percent of the above.

  • Total Project Cost With regard to any Real Property acquired prior to or during the development, construction or improvement stages, all hard and soft costs and expenses paid or incurred by or on behalf of the Corporation that are in any way related to the development, construction, improvement or stabilization (including tenant improvements) of such Real Property, including, but not limited to, any debt, whether borrowed or assumed, land and construction costs.

  • Replacement Cost The term “full replacement cost” as used herein shall mean the actual replacement cost of the Leased Property requiring replacement from time to time including an increased cost of construction endorsement, if available, and the cost of debris removal. In the event either party believes that full replacement cost (the then-replacement cost less such exclusions) has increased or decreased at any time during the Lease Term, it shall have the right to have such full replacement cost re-determined.

  • Estimated Cost Estimated costs by construction phases for Specified Roads listed in A7 are stated by segments in the Schedule of Items. Such estimated costs are subject to adjustment under B3.3, B5.2, B5.21, B5.212, B5.25, and B5.26. Appropriately adjusted costs shall be made a part of a revised Schedule of Items and shown as adjustments to Timber Sale Account. The revised Schedule of Items shall supersede any prior Schedule of Items when it is dated and signed by Contracting Officer and a copy is furnished to Purchaser.