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Payment-by-result (PBR) schemes provide
incentives to workers by relating their pay
or, more usually, part of their pay to the
number of items they produce or the time
taken to do a certain amount of work. The
main types of PBR or incentive schemes for
individuals are piece work, work measured
schemes, measured day work and performance-
related pay.
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Payment by Results (PbR) is type of public policy instruments where payments are contingent on the independent verification of results. It is being actively promoted by a number of governments for more effective implementation of domestic policy.
There is also increasing interest in the field of international development, where PBR is often referred to either as 'results-based aid' (where the funding relationship is between a donor and a recipient country) or 'results-based financing' (where the funding relationship is between a developing country government or a development agency, and public or private sector providers). There are also a number of other terms in use which can often lead to confusion and a lack of clarity.
PbR instruments have three key features:
Payment by Results' (PbR) is the practice of paying providers for delivering public services based wholly or partly on the results that are achieved. It is a relatively new model for paying for public services.
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I amagreeing with my colleague’s answer Mr vinod
I believe the given answers have covered the question .. Variety of correct definitions ... I would agree with that !
Thank You