Identifying Key Risks in Construction Projects: Life Cycle and Stakeholder Perspectives Dr Patrick. X.W. Zou1 ‚ Dr Guomin Zhang2 and Professor Jia-Yuan Wang3 1 and 2: Faculty of Built Environment‚ University of New South Wales‚ Sydney 2052‚ Australia; 3: College of Architecture and Civil Engineering‚ Shenzhen University‚ Shenzhen‚ P.R. China E-mail addresses: 1 p.zou@unsw.edu.au‚ 2 guominz@fbe.unsw.edu.au‚ 3 wangjy@szu.edu.cn Abstract Managing risks in construction projects has been recognised
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Financial Risks in Construction Discuss financial risks in construction‚ highlighting historical background‚ current issues/practices and implications/relevance to construction project management generally and specifically to construction project planning and control‚ feasibility study and appraisal‚ and financing. 1.0 Definitions i. The Project Management Institute‟s (PMI) A Guide to the Project Management Body of Knowledge (PMI 2008) defines project risk as: An uncertain event or condition that
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Currie Road Construction Ltd (A) Executive Summary Martin Cook‚ President of Currie Road Construction Ltd has to decide on expansion plan immediately due to anticipated stimulus spending in both Texas and BC‚ Canada. The company has market share of 2.7% in BC‚ Canada. Competition in BC is stiff and it is impossible to increase market share. On the other hand‚ competition is less in Houston‚ Texas and Currie Road Construction has higher probability of securing sizeable
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CIPAA The Proposed Enactment of CONSTRUCTION INDUSTRY PAYMENT AND ADJUDICATION ACT (CIPAA) CIPAA Background The Government has long realized problems facing parties to construction contracts in securing regular and timely payment that impacts cash flow during project implementation. In ensuring the smooth implementation of construction projects‚ problems of this nature must be addressed especially at the onset of the 10th Malaysia Plan. On 15th July 2009‚ Cabinet has agreed that CIPAA
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New Building Materials & Technologies 2010 CONSTRUCTION BLOCKS SYNOPSIS Criteria for selection of walling elements: Economy Non- erodability Low thermal conductivity Color & Texture Least amount of consumption of raw material Construction block technology offers a speedier‚ cost effective‚ environmentally sound alternative to conventional walling materials. It is based on the principle of densification of a lean concrete mix to make a regular shaped‚ uniform‚ high performance
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braking news Construction of Beowulf Tower As the last wish of our late beloved lord Beowulf‚ construction of the Beowulf tower has began. The tower will built in the place as the dragon’s tower‚ that was demolished last month. One of Beowulf’s famous last words were “ ... build it here‚ at the waters edge‚high on this spit of land so sailors can see this tower‚ and remember my name and call it Beowulf’s tower.”(lines 1027-103) So to honor this request the tower will be built high until it touches
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Written Assignment Discuss the problems caused by poorly trained workers and evaluate different ways to provide effective training in the construction industry in China Nowadays‚ construction industry in China is experiencing a fast development and an abundance of skilled workers are needed to meet such development need. However‚ the situation in China is unsatisfactory. Because of the huge number of the workers involved and mobility of the workforce‚ it is difficult to ensure the professional
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society; belonging in the same category as family‚ economy‚ media‚ politics‚ education‚ and religion (Donnelly‚ 1996). Like many of the aforementioned spheres of our lives‚ sport is a social construction‚ providing a window into the sociocultural context of which we live (Allport‚ 1985). Being a “social construction” we must attempt to understand sport by approaching it as a social fact‚ therefore sociologically‚ as opposed to how we would with objects or events in the biophysical world – through science
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Nature of Construction Contracts Introduction For this assignment the writer is going to discuss the nature and types of construction contracts and will explain the legal responsibilities of the various parties involved in the design and the construction process. Using different types of sources an explanation to the basic principles of contract law and how they apply. From doing this there will then be an explanation to what extent standard forms of contract are special types of contract. Contract
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According to Thomas Theorem‚ people’s behaviors can be determined by their subjective construction of reality rather than by objective reality. In The Social Construction of Reality book‚ Berger and Luckmann also argued that society is created by humans and human interaction. Reality is not absolute and what we understand to be “real” is actually a social constructed idea. It
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