Target Value Design Process. The IPD Team, under the direction of the PMT, will use the Target Value Design process to optimize and coordinate the design in accordance with the Base Program 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. To the greatest extent practicable, the General Contractor and the relevant IPD Team Members 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 IPD Team Members, and the PMT, in making informed decisions about proposed design solutions.
Target Value Design Process. The Parties acknowledge that Target Value Design is intended to make explicit that value, cost, schedule, and constructability (including work structuring) are basic components of the design criteria. The intent is to design the Project to a detailed estimate. The Core Group shall develop written guidelines or protocols for use with Target Value Design principles throughout the design process. At a minimum, these protocols shall address the following:
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 Base Program 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.
