Cost and Time Savings. With preventative maintenance as the target for using FPVS, there is a substantial savings in both cost and time by delaying major improvements to assets and efficiently putting programmed resources to use. Additionally, by bundling many routes into one contract with a guaranteed price, MoDOT has realized lower bids on many of the projects compared other projects in the same area delivered traditionally. Using this method also provides the ability to get under contract efficiently and mitigate market fluctuations in real time.
Appears in 3 contracts
Sources: Programmatic Work Plan Agreement, Fixed Price Variable Scope Contracting, Fixed Price Variable Scope Contracting
Cost and Time Savings. With preventative maintenance as the target for using FPVS, there is a substantial savings in both cost and time by delaying major improvements to assets and efficiently putting programmed resources to use. Additionally, by bundling many routes into one contract with a guaranteed price, MoDOT has realized lower bids on many of the projects compared to other projects in the same area delivered traditionally. Using this method also provides the ability to get under contract efficiently and mitigate market fluctuations in real time.
Appears in 1 contract