Performance Based Contracting - PBL Expert
  

A simple definition of a Performance Based Contract (or Performance Based Logistics Contract as it's known in the US military) is one where payment is related to performance.  Unfortunately the simplicity ends there.  

In reality the relationship between payment and performance is typically represented by numerous, dissimilar metrics, each with a unique payment curve, that are unequally combined into a single payment value.  Furthermore, the ability (chance) to achieve the requirements of an individual metric will vary depending on individual historical evidence and/or expert judgement.

PBL Expert© was developed to meet the demand for a decision support tool that would simply, yet comprehensively, calculate the likelihood of payment and performance through the statistical analysis of historical performance and/or use of expert judgement.  PBL Expert© does this through a process known as uncertainty propagation, which itself comes from the field of Probabilistic Risk Assessment.

PBL Expert© takes either historical evidence as raw data or expert judgement for each metric and, through various mathematical models and constructs within a decision based theoretical framework, produces the likelihood function for payment and performance

To allow the user complete flexibility to tailor PBL Expert© to their individual Performance Based Contract in terms of metrics, payment profiles, weights, etc, PBL Expert© can model numerous dissimilar metrics using various payment curves, again either based on individual historical evidence or expert judgement.

A unique feature of PBL Expert© is the ability to allow users to reverse engineer the level of performance required to achieve a specified level of payment.  This offers particular benefits to organisations in teaming arrangements as well as those organisations responsible for Performance Based subcontracts.  By using this feature the various parties can ensure that the level of performance is achievable, and therefore sustainable for the contract duration.

for more information and a copy of the PBL Expert© factsheet, please email us at info@rubikon.com.au
   
 

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