Target Price Contracts: A Real World Guide
Target Price Contracts under NZS 3910:2023 are rapidly becoming one of New Zealand’s most effective procurement models for managing cost, risk, and collaboration in construction projects. This free guide explains how Target Price mechanisms work, how gainshare and painshare operate, and why this hybrid pricing model provides a balanced alternative to Lump Sum or Cost Reimbursement contracts.
Designed for clients, asset owners, and project teams, the guide breaks down the commercial structure, reporting requirements, Target Price adjustments, and practical governance strategies needed to deliver strong financial outcomes. It is particularly valuable for projects with uncertainty, including refurbishments, seismic strengthening, brownfield developments, and complex builds.
Whether you are considering a Target Price Contract or already delivering one, this resource provides clear, practical advice to help you improve transparency, reduce disputes, and align contractor performance with project success.
What you’ll learn:
How Target Price Contracts work under NZS 3910:2023
Gainshare / painshare mechanisms explained
Cost reporting and open-book requirements
Managing variations and Target Price adjustments
Key benefits, risks, and governance controls
Practical advice from real-world project experience
Download the free guide to better understand how Target Price Contracts can improve cost certainty, collaboration, and project performance.
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