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I posted two articles on my blog recently that together explain why I recommend implementing a transition period into your performance-based contract (PBC) rather than starting all aspects of the contract immediately on day one.

A transition period gives buyers and sellers an early opportunity to better define what outcomes they want and tailor them to specifically meet their needs. Much time-consuming effort can be avoided.

Starting a Performance Based Contract (PBC) – Part 1 explains how a transition period will help your staff more efficiently record, score, report and review performance and uncover potentially hidden issues for buyers and sellers and avoid human error.

Starting a Performance Based Contract (PBC) – Part 2 expands the content of Part 1 and adds many other aspects like performance measures, like shaping profit margins and balancing risk and reward.

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Dr. Andrew Jacopino, Senior Advisor at Ngamuru Advisory Canberra, Australia

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