609‚ International Issues in Construction July 13‚ 2014 ____________________________________ The Main Drivers of the International Construction Industry‚ Global Economy and Its Role in Developed and Developing Countries including the Philippines (Answers to Questions 1 and 3) The construction industry is one of the largest in the whole world. This industry contributes about 10 percent of the total Gross Domestic Product (GDP) of the entire global economy. Construction has been potentially an employment
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Abstract Construction sector and construction activities are considered to be one of the major sources of economic growth‚ development and economic activities. Construction and engineering services industry play an important role in the economic uplift and development of the country. It can be regarded as a mechanism of generating the employment and offering job opportunities to millions of unskilled‚ semi-skilled and skilled work force. It also plays key role in generating income in both formal
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Rationale Construction Industry is a complex‚ dynamic and multidisciplinary organization that is characterized by uncertainty and very innovative due to the uniqueness of its products. The industry faces a lot of pressure in the areas of improved processes that will encourage efficiency in the project success criteria. This assures its Clients of a timely delivery of a project on budget and to the required quality and standard. (Latham‚ 1994)‚ in his report‚ ‘Rethinking Construction’ had elicited
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majority of the state budget has filled up by petrodollars rather than by taxes. Therefore high fluctuations of oil prices affect the vulnerability of economy. However‚ the successful development was a result of not only favorable conditions in the oil industry. Since independence‚ Kazakhstan has implemented a number of comprehensive reforms that have turned the country from a planned economy into the state with the successful developing economies. Kazakhstan has relatively liberal economic relations‚ the
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borrow more money for project investments. * Infrastructure UK unit built in HM Treasury in 2010 and actively discussed $109bn Transportation and Infrastructure Bill containing large infrastructure projects will aim to develop infrastructure industry in the UK and USA respectively (HM Treasury‚ 2012; Weisman‚ 2012) * Political issues in the Middle East increased commodity price volatility (Hotter‚ 2011). A growth in the commodity prices enhanced global mining activity which increased the
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Introduction Nowadays‚ the growth of construction industry’s productivity is slow‚ unlike the manufacturing sector‚ where standardization of components‚ mechanisation and innovation greatly enhance the rate of production‚ that is because of the procedure of construction industry is more complicate and always take longer time than manufacturing sector. Therefore‚ the supply to meet the needs and demand of housing and infrastructure is a very slow process. This is a serious problem which indicates
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INSTITUTION: KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY‚ KUMASI DEPARTMENT: BUILDINGTECHNOLOGY NAME: PHILIP QUAQUE AHIABOR PROGRAMME: QSCE 4 RESEARCH TOPIC: MOTIVATION OF WORKERS IN THE CONSTRUCTION INDUSTRY IN GHANA (CASE STUDY: SELECTED CONSTRUCTION FIRMS IN GREATER ACCRA REGION) CHAPTER ONE 1.0 INTRODUCTION Motivation is the set of reasons that encourages one to engage in a particular behaviour. The term is generally used for human motivation but‚ it can be used to describe the causes
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following risk matrix below‚ in Table ?‚ extracts the major issues that could adversely affect this development. This risk matrix has been produced to cover all the main aspects of the project‚ other variables that can be included are preliminaries‚ construction phases‚ builder and/ or client variations‚ etc. As this report is predominantly aimed at assessing the feasibility of our development‚ we will only be touching on major issues that could potentially cripple the development and its returns if they
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Benefits and Problems Associated with Globalisation Globalisation brings both benefits and problems to different groups of both the developing and developed world. One benefit of globalisation is the evidence of consumer prices being reduced worldwide. This has a positive effect on the finance of people especially in developing countries‚ as more people are able to afford to buy both essential and non-essential products without denting their income. However for companies supplying these products
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Quality Assurance in Construction The importance of Quality Assurance is based on the principals of getting things right first time. By implementing‚ maintaining‚ reviewing and continually improving a Quality Assurance System a company can achieve and reap the benefits of having such a system in place. Quality Assurance exists because of the degree of dissatisfaction experienced by the industry’s clients over a long period‚ combined with a growing impatience by some of their advisers to achieve
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