Chances for Potential Loss & Critical Insurance Covers for Road Projects (Things to be considered while designing the Insurance Program for Road Projects) History notices that the first road was constructed nearly 4000 years ago and since then there have been continuous development in methods‚ techniques and types of roads. The Romans built stone paved roads in North Africa and Europe to support their military operations. Later the Arabs built roads that were covered with tar
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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
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CONSTRUCTION MANAGEMENT Chapter 4 Construction contracts. Author: Paweł Kotas‚ Polska Construction as a service activity having many dimensions. Starting from ideas‚ thru find funds‚ investor‚ design construction‚ find contractor‚ phase of construction‚ meet the requirements which investment needs to be in use and complete facility. All these aspects are associated with large amounts of documents‚ permits. In this essay will be described various types of contracts between the investor and
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Causes of Construction Disputes 1) Poor Contract Documentation that arises from the organizational system. • Inadequate or incomplete design information like information like Sizes‚ type‚ Colour‚ Make‚ Company etc is not mentioned in documents. • Ambiguities in contract documents like how the extra item will be settled‚ extension of time‚ liquidated damages etc. scope of work. The written (or unwritten) contract is what guides the parties’ expectations as to payment and performance. The contract
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Volume 3‚ Special Issue 1‚ 2010 Evaluating Research Methodology in Construction Productivity Studies Panas‚ A. and Pantouvakis‚ J. P. cvapanas@mail.ntua.gr and jpp@central.ntua.gr Centre for Construction Innovation‚ Department of Construction Engineering and Management‚ Faculty of Civil Engineering‚ National Technical University of Athens‚ Greece Abstract Despite the large number of published papers in the area of construction productivity‚ a critical review of contemporary thinking with a
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and “involves assembling and organising the skills and services of a team of construction professionals”. (the Construction Round Table‚ 1995). More precisely‚ the construction industry describes procurement as “a system that establishes the roles and relationships which make up a project organisation”; hence the overall organisation and communication structure for the management‚ administration and control of a project is established by the procurement system. (D.C.H Coles‚ 2010) * Procurement
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1: P 1.1 Discussing the use of approved codes of practice to ensure compliance with health and safety legislation. PAGE 2 P 1.2 Explaining the responsibilities for providing welfare facilities on-site. PAGE 4 P 1.3 Explaining the Construction (Design and Management) Regulations 2007. Evaluate the penalties for non-compliance with current health and safety at work legislation. Give at least two examples for easy understanding. PAGE 7 P 2.1 Analyse organizational health and safety
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Activity 8-9: Evaluate an acceptable use policy. Learn whether the organization where you work or attend school has an acceptable computer use policy for employees or students. Make a list of activities that are permitted and those that are not permitted. Identify on your list those activities that are illegal and those that are not permitted according to organizational policy. Compare your organization’s computer use policy with the University of Oregon’s policy referenced in the chapter. Describe
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CONSTRUCTION CONTRACTS IAS 11 – DEFINATION IAS 11 defines a construction contract as: a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design‚ technology‚ and function for their ultimate purpose or use. IAS 11 – TREATMENT Where possible‚ IAS 11 applies the accruals concept to the revenue earned on a construction contract. If the outcome of a project can be reasonably foreseen‚ then
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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
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