When accurate cost of construction is not yet required and a rough idea is sought at some stage to help decision makers decide whether to proceed or not, approximate estimates of construction cost are used..Article
An introduction to the estimating process in construction projects..Article
Recent developments in construction management techniques that would help achieving a better control of costs of construction.
It is suggested that the basic critical path network technique is neither a true model nor the best approximate model of the construction process.
Contractors have two options in acquiring plant: They
may either own their machinery and equipment or hire it.
In an investment appraisal only the incremental expenditure and receipts directly attributable to the project under scrutiny should be included.
Investment Appraisal Article
An introduction to essentials for validity of a contract, its breach and termination consequences. Article
Liquidated damages are: [ a sum which a party to a contract agrees
to pay or a deposit which he agrees to forfeit if he breaks some promise and
which, having been arrived at by a good faith effort to estimate in advance
the actual damage which would probably ensue the breach, are legally
recoverable as agreed damages if the breach occurs.], what is the difference
between liquidated damages and penalties? Article
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As an alternative to conventional contracts. The risks are taken out
and dealt with separately. A better solution for both Contractors and
Employers. In giving a firm price, the Contractor enters into obligations to
perform the work for that price. These are his obligations. However, his
motivation is to maximize his profit. This is why he is in business. From
the moment the contract is signed the Employer and the Contractor are, to a
degree, adversaries. The common purpose is completion of the contract. The Contractor, healthily pursuing his own interests, must do so at the best
possible return to himself.
Find out how much will it cost you as contractor to build faster and is it
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Bidding Procedures and recommendation for preparing bids
Construction management has encountered a number of schools of thought.
Succeeding schools of thought about management modify and extend existing
ones but not supersede them as they still continue to exercise sway over
ways in which organizations operate.
Strategic Management in Construction
Strategic management is a systematic approach to major and increasingly important responsibility of general management to position and relate the firm to its environment in a way which will ensure its continued success and make it secure from surprises.
The risks in connection with the construction industry, broadly grouped
under technical, logistical, construction process,
financial, and political risks.
An introduction to essentials for validity of a contract, its breach and
Single point responsibility issue: Clients want completion on budget, on
time, and value for money but above all they rightly expect their buildings
to work when they are delivered. There is a need for single point
responsibility where the risks and responsibilities for the finished
building are clearly defined and controlled by the party best suited to
carry the responsibility with a fair return.
Education, and Training issue: There is too little shared knowledge of the design and building process. The architect understands design but often lacks detailed knowledge of the nuts and bolts (of building assembly, while the contractor understands the problems of forming day joints in the concrete but not necessarily the engineering design principles.
Quality management is concerned with getting a product or service right
first time and this implies that a firm undertakes its business in a
Construction safety needs to be given a prime concern in view of the
recorded fatalities in this industry
Use of linear programming to solve frequently encountered problems in