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 graduate courses in 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 contractors, subcontracts, and purchase orders 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. with honors from University of Georgia, B.S. in construction engineering from Iowa State University
- Contact information [email protected], [email protected], and (404) 815-3711
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