Chapter 4 – Construction Contracts 1. Name and briefly describe each of the two basic types of competitively bid construction contracts. Which type would be most likely used for building the piers to support a large suspension bridge. Why? Two basic types of competitively bid construction contracts are lump-sum and the unit-price contract. The lump-sum contract is when the contractor agrees to complete all work for a pre-determined price including profit and the contract. The unit-price contract
Premium Contract
References: Cheung‚ S.O. 1999. Critical Factors Affecting the Use of Alternative Dispute Resolution Processes in Construction. International Journal of Project Management‚ 17‚ (3). pp 189-194. Acharya‚ N.K‚ Lee‚Y.D.‚ Kim‚ J.K. 2006. Critical construction conflicting factors identification using analytical hierarchy process. Volume 10‚ Issue 3‚ pp 165-174. http://link.springer.com/article/10.1007%2FBF02824057?LI=true. (accessed Dec
Premium Value added Supply and demand Gross domestic product
University Modular Framework Construction Economics [pic] Module Guide 2011/12 Module Tutor: Dr. Turker Bayrak Module Title: Construction Economics‚ LEM2030 Module Value: 1 (20 credits) at level 4 Rationale: This module aims to develop decision making skills by introducing economic principles that underpin construction industry. This module provides an insight into the ways in which the economic environment affects the construction industry. The module has been designed
Free Economics
MANDAPATI SURENDRA REDDY PERSONAL STATEMENT Program applied: Master of Science Major: Public Health "A person doesn’t gain knowledge by possessing an insatiable thirst for it‚ But by searching for the means to quench it" STATEMENT OF PURPOSE My journey to attain the ultimate goal of my life also goes something like what Frost says. It is a continuous struggle to reach the shores of success and achievement. It is to attain fulfillment in the field I love the most‚ "Medicine-Social
Premium Academic degree College Higher education
To Whom It May Concern: I am proud to recommend a beloved student‚ Kaya Stone‚ for your fellowship program. I was asked to write as one who has functioned in the capacity of an employer of Kaya‚ but I would first like to say a few words about him as a student. Kaya is a highly intelligent‚ perceptive young man. He came to our institution committed to capitalizing on the opportunity of a third year of study in Israel‚ and he left with the satisfaction of having accomplished that goal. Kaya
Premium Education The Opportunity Energy
TASK 1 1.1 Explain the economic principles related to construction industry‚ taking the following in to consideration; Scarcity‚ Specialization‚ Division of Labour Scarcity This is the basic economic problem. Mainly Scarcity means that the resources are not enough to satisfy human wants fully or completely. In other words the resources are insufficient to produce all the goods and services humans might desire as the resources are limited and the human wants are unlimited. Here the resources
Premium Economics Supply and demand
Quality Management in Construction Firms Low Sui Pheng1 and Jasmine Ann Teo2 Abstract: As building projects get larger and more complex‚ clients are also increasingly demanding higher standards for their delivery. Total quality management TQM has been recognized as a successful management philosophy in the manufacturing and service industries. TQM can likewise be embraced in the construction industry to help raise quality and productivity. Two case studies of construction companies showed how TQM
Premium Quality management Quality management system ISO 9000
Falls in Construction: A Persistent Problem Amber Davis OSHT 1405 Ratliff April 2‚ 2013 Davis 1 Falls in Construction: A Persistent Problem It is a known fact that falling is the leading cause of death in the construction industry. According to OSHA’s statistics for the year 2011‚ 251 out of 721 total deaths in construction were due to falls. Over the last decade‚ OSHA has updated and revised many standards for the construction industry that have been effective in reducing the
Premium Occupational safety and health
Industry analysis The construction industry of Bangladesh has improved substantially during the last twenty years. About 10% of GDP of the country comes from this sector alone. It absorbs a very big labor force as well as enhances big job opportunities for engineers‚ architects‚ managers‚ foremen‚ supervisors‚ technicians‚ electricians‚ machine operators‚ drivers etc. At present this is a booming industry and people engaged in this sector are earning a reasonable salary and other benefits. And this
Premium 3rd millennium Construction
ROBIN HOOD Case Analysis and Strategy Recommendations Case Analysis Robin Hood and his band of Merrymen is the subject of this case study. In this study I found‚ Robin Hood’s main problem was the increasing size of his band. Initially‚ he had hoped that strength lay in numbers and the more Merry men he had‚ the better it would be for him to effectively fight against the sheriff’s administration. He did not put enough thought into curbing the number of people being recruited. The dilemma occurred
Premium Merry Men Robin Hood Sherwood Forest