As part of this blog I intend to cover the Why, the What and the How of Performance Based Contracting (PBC). So what do I mean by these 3 terms?
- the Why – using this term I want to discuss why you would consider using a PBC and more importantly when you would not. Included in this will be a posts and discussion on both published research into PBC and personal (non-attributable) observations on the benefits (advantages) and costs (disadvantages) of this approach.
- the What – using this term I want to discuss what you need to do from a process (strategic) view; the steps that need to be taken, some of a general considerations, etc. as opposed to the more tactical level (the How).
- the How – using this terms I want to discuss the detailed (tactical) actions that need to be undertaken for your PBC to be successful. This includes posts and discussions on a range of alternatives for each topic and when they should be used based on the simple pros and cons of each approach.
So hopefully you’ll join me on this journey through PBC, and indeed I hope you’ll contribute to the discussion and add your own perspectives and experiences, since the more the merrier!