Photo Courtesy of Rien van Rijthoven The hospital project in Castro Valley is seen as a proof of concept for a risk-and-reward-sharing contract with 11 signatories. Photo Courtesy of Novarka The enclosure will eventually entomb the reactor at the Chernobyl nuclear powerplant destroyed in the 1986 disaster. Related Links: An Unprecedented 11 Partners Propel Integrated Project Delivery at $320-million California Hospital California Hospital a Success Story for Integrated Project Delivery 'on Steroids' Sutter Health's first hospital built under a risk-and-reward-sharing contract with 11 signatories was completed six weeks early, within its $320-million budget and with no claims, according to DPR
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.