Oireachtas Joint and Select Committees
Thursday, 31 January 2019
Public Accounts Committee
National Paediatric Hospital Development Board: Financial Statements 2017
9:00 am
Mr. Tom Costello:
I can. I will tell the Deputy about an initiative taken by me and the company I worked with in relation to Aviva Stadium. The bid was on a traditional basis. There was not a guaranteed maximum price. This story shows the power of collaborative working. We had a fantastic relationship and, at the end of the day, the quality of the relationship delivered a high-quality job and the cost was set against a guaranteed maximum price. A year into the job, however, the FAI and IRFU advised that they were concerned because the costs were growing. I put in place an initiative with the client that meant we would set a cap and, within three or four months, a guaranteed maximum price. In a way, that is the same sort philosophy we are using here. Before we spend the money, we set out the-----
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