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
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.....3 1.2. What Must Be Included with Bid .......................................................................................................3 1.3. Schedule of Bid Period Activities.......................................................................................................3 1.4. Location of Work ................................................................................................................................3 1.5. Pre-Bid Meeting.................................
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1 INDUSTRY PROFILE 2.1 FINANCIAL MARKETS A financial market is a market in which people and entities can trade financial securities‚ commodities‚ and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds‚ and commodities include precious metals or agricultural goods. Types of financial markets * Capital markets which consist of: * Stock markets‚ which provide financing through the issuance
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and electrical contractors had to be licensed by the state of California. Often‚ electrical contractors were called to a job by a general contractor who had over- all responsibility for constructing a building or remodeling it. But they could also bid on projects independently‚ especially in the public sector. By May 2006‚ John and Jean had successfully grown J&J from a company of three electricians to one of fifty-four employees. They took the company to 2005 revenues of $5.22 million‚ a 75 percent
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winner of the auction must bid $2.5 per share more than the other bidder (with this margin reducing as a function of time)‚ else they both have to continue until this criteria is met . Unaware of the other party’s bid‚ each participant made a move trying to guess the amount it needs to be the winner. The chronology of the bidding process started by Pilgrim Pride bidding at $45 per share; this was topped by a bid of $50 per share by Tyson‚ followed by a $55 per share bid by Pilgrim Pride. In an effort
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Executive summary The Computron‚ Inc. is facing problems regarding pricing the bid for Computron 1000X‚ future functioning of Frankfurt plant‚ impact on production due to current market breakdown. The main concern about Computron is that if the bid of 1000X should not higher than 20% of least bid to get the contract. It is strongly recommended to get the bid for functioning of new plant. Various issues regarding cutting down prices‚ bidding high or low and its pros-cons‚ current market situation
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Long Range Planning 40 (2007) 535e558 http://www.elsevier.com/locate/lrp Policy Gaming for Strategy and Change Jac L. A. Geurts‚ Richard D. Duke and Patrick A. M. Vermeulen This article summarizes the major insights collected in a retrospective comparative analysis of eight strategic projects in which ‘policy gaming’ was the major methodology. Policy gaming uses gaming-simulation to assist organizations in policy exploration‚ decision making and strategic change. The process combines the
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for quantity of 1000) 1. If Northern accepts the bid from Thompson Thompson companies Out of Pocket costs for 1000 boxes = $400 70% of Thompson Out of Pocket costs = Selling price of Southern division (line and corrugating medium) Hence‚ selling price of Southern = 70% * 400 = $280 Hence‚ Out of Pocket costs for Southern = 60% 280 = $168 2. If Northern accepts the bid from West No out of pocket costs Thompson and Southern 3. If Northern accepts the bid from Thompson Thompson companies Out of Pocket
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Question 1 (10 Marks) – Required: 1. Prepare a Chavez Scatter graph plot that puts the labor-hours on the x-axis and the overhead expenditure on the Y-axis. What insights are reveals by your scatter graph? Labor Hours Overhead Expense 2‚500 55‚000 2‚800 59‚000 3‚000 60‚000 4‚200 64‚000 4‚500 67‚000 5‚500 71‚000 6‚500 74‚000 7‚500 77‚000 7‚000 75‚000 4‚500 68‚000 3‚100 62‚000 6‚500 73‚000 57‚600 805‚000 The interesting points about the behavior of overhead costs have been revealed by the Scatter
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Due to the assassination of President William McKinley‚ Theodore Roosevelt‚ became President of the America in 1901. President Roosevelt brought excitement and power to the office‚ and lead the American people toward progressive reforms and a strong foreign policy. President Roosevelt immediately worked towards the previous set goal of the U.S. of creating and controlling a canal through Central America. Roosevelt reversed the previous decision by the Walker Commission for a Nicaragua Canal‚ and
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