What is value-based pricing?
Value-based pricing is where a contractor primarily bases its pricing on the perceived value the completed project will create for the owner. Value-based pricing is not best value procurement. Best value procurement is where an owner selects a contractor or vendor on evaluation criteria other than price alone, including schedule, experience, quality, diversity, and sustainability. But best value procurement evaluation techniques are a good way to evaluating competing bids for value-based pricing. This video reviews the benefits and disadvantages of value-based pricing.
Scott D. Cahalan
Smith, Gambrell & Russell, LLP
- Partner in the construction law and litigation section of Smith, Gambrell and Russell, LLP, an AmLaw 200 firm
- Part-time instructor of design and construction law and real estate development law at the Georgia Institute of Technology
- General counsel to the Georgia Utility Contractor’s Association
- Practice includes all aspects of design and construction law, from drafting and negotiating prime contracts, subcontracts, and purchase orders to advising clients about legal and contract rights and obligations during the construction process to mediating, arbitrating, and litigating construction disputes
- Drafted form construction contracts for the Associated Owners and Developers, a national organization
- Recognized by Chambers USA, The Best Lawyers in America, and Georgia Super Lawyers
- Frequent author and lecturer on construction law
- Member of the State Bar of Georgia, Northern District of Georgia, and 11th Circuit Court of Appeals
- J.D. degree, cum laude, University of Georgia; B.S. degree in construction engineering from Iowa State University
- Can be contacted at [email protected], [email protected], or 404-815-3711
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