Category Archives: Behaviours

Revisiting Performance Based Contracts vs. Outcome Based Contracts vs. Relational Contracts

When a man’s suit fits, when the construction is beautiful, when the sewing and fabrics are there… in the end, you’ll look the best in it. John Varvatos, American Designer In a previous article (see Performance Based Contracting vs Outcomes … Continue reading

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Treatment of Safety in a Performance Based Contract

One topic that has constantly come up over the years is how to treat safety in a Performance Based Contract (PBC). In a previous article (see Designing Successful Performance Based Contracts) we described a PBC as having two main parts; … Continue reading

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Process for Developing a Performance Based Contract (PBC)

Many years ago when preparing to teach a 1-day Performance Based Contracting (PBC) workshop it occurred to me that while we had an 8-step process for developing it wasn’t entirely accurate. In fact of the 100+ PBC that I have … Continue reading

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Stretch Goals

“The greater danger for most of us isn’t that our aim is too high and miss it, but that it is too low and we reach it.” Michelangelo In writing the articles on setting performance levels I came across a … Continue reading

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Performance Based Contract vs. Outcomes Based Contract vs. Relational Contract

My colleagues and I, probably like a number of you, have been to a number of presentations recently that have spoken about future of contracting being ‘outcomes’ based contracting. There are also a number of people talking about relational contracting. … Continue reading

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Understanding Behavioural Economics

In a previous post I had suggested those interested in Behavioural Economics should have a look at a free online course via http://www.edx.org titled Behavioural Economics in Action from the University of Toronto. While you can do this course at any … Continue reading

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Carrot and Stick (Part 1)

I am currently reading Richard Thaler’s new book, “Misbehaving – The making of Behavioural Economics” which has again brought up an interesting and long running debate on the application of positive incentives (gains or “carrots”) or negative incentives (losses or … Continue reading

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