New reward system announced for Delivery Partner contract

Details released covered how the reward system of the contract will reflect the strict deadline of the project.

The Delivery Partner contract is at the heart of providing the Olympic facilities and delivering a successful legacy.

More than 60 companies have already expressed interest in the contract including some of the biggest global names in construction.

David Higgins, Chief Executive-designate of the Olympic Delivery Authority said: "This is the big contract for 2006 and critical to the overall success of the project.

"The response has exceeded all expectations and there is a heavyweight list as we move forward to the next stage of the process.

"The reward structure for the successful Delivery Partner will relate to both performance and the management of risk on the project.

"This is different to many contracts which focus solely on penalizing failure. But there can be no flexibility on the end date as there is an immovable deadline for delivering the project."

8 March 2006

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