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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ASSIGNMENT TABLE OF CONTENTS | | PAGE | 1.0 | Is it possible for one standard form of construction contract to meet the need of every project? Discuss by reference to at least two forms in common use in industry. | 2 | 1.0 | What is a Construction Contract? | 2 | 1.1 | Why use a standard form of contract? | 3 | 2.0 | Different forms of contract | 3 | | 2.1 PWD (Public Works Department) FORM OF AGREEMENT | 4 | | 2.2 FIDIC | 4 | 3.0 | Main differences between both forms of contract
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Identifying Construction Resource Factors Affecting Construction Cost: Case of Johor Aftab Hameed Memon*‚ Ismail Abdul Rahman‚ Ade Asmi Abdul Aziz‚ Kumarason V. Ravish‚ and Noor Ikmalah Mohammad Hanas Faculty of Civil and Environmental Engineering‚ Universiti Tun Hussein Onn Malaysia‚ 86400 Parit Raja‚ Batu Pahat‚ Johor‚ Malaysia *Corresponding e-mail: aftabm78@hotmail.com Abstract The success of any construction project highly depends on proper and effective management of construction resources
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Track Software Inc Integrative Case Assignment 1 Rey-Anne Paynter808000390 2/19/2013 a. (1) Stanley’s focus is o n maximizing profits. This is the correct goal because the goal of anyfirm‚ and therefore its financial manager‚ should be to maximize its value and by extensionthe wealth of the shareholders. (2) There is potential for an agency problem if Stanley decides to go ahead and invest in thesoftware developer. This investment will cause a temporary decrease in the
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Geometric constructions involve drawing geometric shapes that satisfy certain requirements (onlinemathlearning.com). The main focus in construction is on equidistance and co-linearity. This is done through the use of certain tools namely the compass and the straight edge. It is used to construct angles‚ planes figures and segments. This mathematical skill is applicable in many fields such as architecture‚ engineering and construction just to name a few. Base on the fact that geometric construction
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The social construction framework was proposed by Schneider and Ingram in 1993 and sought to explain the allocation of burdens and benefits to different groups of people in society based on their power and social construction‚ that is “the cultural characterizations or popular images of the persons or groups affected by the public policy.” In this essay‚ I will be evaluating the social construction framework on various levels of analysis and explain why I think this framework is effective in explaining
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STATUTORY CONSTRUCTION PRELIMINARY CONSIDERATIONS 1. Statutory Construction - is the art or process of discovering and expounding meaning and intention of the authors of the law‚ where that intention is rendered doubtful by reason of the ambiguity in its language or of the fact that the given case is not explicitly provided for in the law - is the drawing of warranted conclusions respecting subjects that lie beyond the direct expression of the text‚ conclusions which are in the spirit‚ though not
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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
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materials better than those that commonly exist from previous methods of construction? Applying the Green Matter to Construction Introduction Why does that one unique house in your area seem to be different than each stereotypical residence design? It could be because of the green building concepts that were used for its construction‚ seen as there are essentially countless sustainable practices being applied to construction in the world today. The major sections of innovation in the building
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Sub: Construction Management 1. Explain the dealing with owners’ supplies. 2. Write short notes in the following. a. b. c. d. Guarantee Tests Demobilization Environmental case Testing commissioning and Trial Run. 3. Describe the purchase procedure in a construction organization . 4. Explain ABC analysis for a construction organization 5. What is Risk Identification Analysis and Classification? List out the Risk avoidance and Reduction measures. 6. Illustrate the financial model for a construction
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