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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BUSINESS FAILURE IN CONSTRUCTION INDUSTRY By Roozbeh Kangari‚1 Member‚ ASCE Business failure is an extremely disruptive force in the construction industry. The chance of failure for a construction company has increased over the past 10 years. In the past five years‚ the average age of a construction company at failure has been declining. Construction companies must always be aware of the possibility of business failure. Constant monitoring of their financial condition through the use of financial
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Contents FACTORS OF CONFLICT AND DISPUTE IN CONSTRUCTION INDUSTRY 1.0 MAIN RESEARCH TITLE Factors of Conflict and Dispute in Construction Industry ABSTRACT Today‘s construction projects become more complex in nature. The complex‚ relational and lengthy process of designing and building makes construction a process in which disputes are virtually ensured. Furthermore‚ the involvement of multidisciplinary in the construction project also leads to conflicts among the parties. It
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Task 1 One of the significant contributor to climate change and other environmental threats is the construction sector. The construction industry has a major impact on our environment and our country cannot meet its environmental goals & objectives with substantially reducing the environmental impact of buildings and infrastructure. Thus‚ this sector needs to make an extensive and stringent shift in its practices in order to alleviate the impact of these threats. Hence‚ we have to change the way
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The Globalization of the Construction Industry “How has globalization impacted on the construction industry in terms of issues such as: structure‚ characteristics of the industry and individual firms‚ building cycles and forecasting the future direction of the overall economy and the construction industry in particular”. TABLE OF CONTENTS Page 1.0 Executive Summary 2.0 Introduction 3.0 Globalization 4.0 Structure 4.1 The Global Construction Industry 4.2 Issues Relating
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Adjudication in the Malaysian Construction Industry Background for the Research Adjudication is one of the alternative dispute resolution procedures for resolving disputes‚ which giving of a non-binding opinion at the request of a party or parties to a dispute‚ and either party may refer to arbitration at a later stage. In the Latham Report (1994) recommended‚ inter alia‚ adjudication as the standard first instance dispute resolution technique in construction contracts. In response‚ statutory-based
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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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