Heron Tower Procurement
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Contents Page
I. Introduction
i. Location 3 ii. Specifications 4
II. The developer
i. Heron International 6 ii. Planning Problems 6
III. Sources of Funding and Risks
i. Internal 7 ii. External 8
IV. Stakeholders 10
V. Procurement Routes and Associated Risks
i. Management Contracting vs Construction Management 12
VI. Legal System and Dispute Resolution 16
VII. Conclusion 18
VIII. References 20
I. Introduction
Procurement, by definition, is a collaboration of merging activities which ultimately lead to something or a service being acquired. (City of London, What is Procurement [online], available from http://www.cityoflondon.gov.uk/Corporation/LGNL_Services/Business/Tenders_and_contracts/what_procurement.htm [Accessed 12/1/2011]. In construction terms this refers to the systematic approach, or route in which an idea or thought can break into reality and be built. It is best looked at as a complex strategy to manage clients/developers, architects, contractors, and sub-contractors, to name a few, into the most efficient way, or more specifically, risk free way to complete a build on time and on budget.
I. i. Location.
The project chosen for this brief is the Heron Tower in London. The Heron Tower which is at 110 Bishopsgate, London, is an iconic building, built on an island site in a unique location opposite Liverpool Street station. It has huge commercial benefits and as the city’s first 6-star office complex it is set to produce a new standard for offices in London, in particular with regards to accommodation in addition to the ‘wow factor’ any passer by receives. The tower represents a new generation of tall buildings. Members of the construction industry have been quick to encourage the public to fully embrace these styles of buildings when they look at the design of urban properties. “Heron Tower’s completion is a
Contents Page
I. Introduction
i. Location 3 ii. Specifications 4
II. The developer
i. Heron International 6 ii. Planning Problems 6
III. Sources of Funding and Risks
i. Internal 7 ii. External 8
IV. Stakeholders 10
V. Procurement Routes and Associated Risks
i. Management Contracting vs Construction Management 12
VI. Legal System and Dispute Resolution 16
VII. Conclusion 18
VIII. References 20
I. Introduction
Procurement, by definition, is a collaboration of merging activities which ultimately lead to something or a service being acquired. (City of London, What is Procurement [online], available from http://www.cityoflondon.gov.uk/Corporation/LGNL_Services/Business/Tenders_and_contracts/what_procurement.htm [Accessed 12/1/2011]. In construction terms this refers to the systematic approach, or route in which an idea or thought can break into reality and be built. It is best looked at as a complex strategy to manage clients/developers, architects, contractors, and sub-contractors, to name a few, into the most efficient way, or more specifically, risk free way to complete a build on time and on budget.
I. i. Location.
The project chosen for this brief is the Heron Tower in London. The Heron Tower which is at 110 Bishopsgate, London, is an iconic building, built on an island site in a unique location opposite Liverpool Street station. It has huge commercial benefits and as the city’s first 6-star office complex it is set to produce a new standard for offices in London, in particular with regards to accommodation in addition to the ‘wow factor’ any passer by receives. The tower represents a new generation of tall buildings. Members of the construction industry have been quick to encourage the public to fully embrace these styles of buildings when they look at the design of urban properties. “Heron Tower’s completion is a
References: ARNOLD. G, 2007 “Essentials of corporate financial management”. HATCHER.D, 2010, ‘Heron Tower Gets Excellent BREEAM Rating’, The Property Week [online], available at http://www.propertyweek.com/news/heron-tower-gets-breeam-excellent-rating/3156071.article [Accessed 30/4/11]. JEFFERSON, 2001. Pacific Business News KPF Associates, [online] available at http://www.kpf.com/project.asp?R=3&ID=56 [accessed 12//11/10] McKINNEY. J, 1983. “Management contracting”. London : Chartered Institute of Building. RONSON. G, 2011. Construction News, “Heron Tower Welcomes first tenant”) Skanska [online], available at http://www.skanska.co.uk/en/Projects2/Heron-Tower/Project-description/ [accessed 21/12/10] The Sunday Times, Nov 2005. “The Heron Tower Needs Investors” WALKER D, HAMPSON K, 2003