|
Project Delivery Method
Project delivery methods defines the characteristics of how a construction project is designed and built and the responsibilities of the parties involved in the construction (owner, designer and contractor). They are used by a construction manager who is working as an agent to the owner or by the owner itself to carry-out a construction project while mitigating the risks to the scope of work, time, budget, quality and safety of the project. These risks ranges from cost overruns, time delays and conflict among the various parties. History Trends in delivery methods Though DBB is now used for most private projects and the majority of public projects, it has not historically been the predominant delivery method of choice. The master builders of centuries past acted both as designers and constructors for both public and private clients. In the United States, Zane's Post Road in Ohio and the IRT in New York City were both originally developed under more integrated delivery metho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Management
Construction management (CM) aims to control the quality of a construction project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction. It uses project management techniques and software to oversee the planning, design, construction and closeout of a construction project safely, on time, on budget and within specifications. Practitioners of construction management are called construction managers. They have knowledge and experience in the field of business management and building science. Professional construction managers may be hired for large-scaled, high budget undertakings (commercial real estate, transportation infrastructure, industrial facilities, and military infrastructure), called capital projects. Construction managers use their knowledge of project delivery methods to deliver the project optimally. The role of the contractor Contractors are assigned to a construc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Contractor
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by employment laws, organization or legal contracts. Employees and employers An employee contributes labour and expertise to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payback Period
Payback period in capital budgeting refers to the time required to recoup the funds expended in an investment, or to reach the break-even point. Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of classes of measures that appear in ''Marketing Metrics'' as part of its ongoinCommon Language: Marketing Activities and Metrics Project For example, a $1000 investment made at the start of year 1 which returned $500 at the end of year 1 and year 2 respectively would have a two-year payback period. Payback period is usually expressed in years. Starting from investment year by calculating Net Cash Flow for each year: \text = \text - \text Then: \text = (\text + \text +\ldots + \text) Accumulate by year until Cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Residual Value
Residual value also known as salvage value describes the future value of a good in terms of absolute value in monetary terms after depreciation, and it is sometimes abbreviated into a percentage of the initial price when the item was new. It is one of the constituents of a leasing calculation or operation and is a key concept in accounting. It represents the amount of value that the owner of an asset can expect to obtain when the asset of its lease or when it reaches the end of its useful life. Example: A car is sold at a list price of $20,000 today. After a usage of 36 months and 50,000 miles (ca. 80,467 km) its value is contractually defined as $10,000 or 50%. The credited amount, on which the interest is applied, thus is $20,000 present value minus the present value of $10,000 future value. Treatment Residual values are contractually dealt with either in terms of closed or open contracts. In accounting, residual value is another name for salvage value, the remaining value of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile Phone Network
A cellular network or mobile network is a telecommunications network where the link to and from end nodes is wireless and the network is distributed over land areas called ''cells'', each served by at least one fixed-location transceiver (such as a base station). These base stations provide the cell with the network coverage which can be used for transmission of voice, data, and other types of content via radio waves. Each cell's coverage area is determined by factors such as the power of the transceiver, the terrain, and the frequency band being used. A cell typically uses a different set of frequencies from neighboring cells, to avoid interference and provide guaranteed service quality within each cell. When joined together, these cells provide radio coverage over a wide geographic area. This enables numerous devices, including mobile phones, tablets, laptops equipped with mobile broadband modems, and wearable devices such as smartwatches, to communicate with each other a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concession (contract)
A concession or concession agreement is a grant of rights, land, property, or facility by a government, local authority, corporation, individual or other legal entity. Public services such as water supply may be operated as a concession. In the case of a public service concession, a private company enters into an agreement with the government to have the exclusive right to operate, maintain and carry out investment in a public utility (such as a water privatisation) for a given number of years. Other forms of contracts between public and private entities, namely lease contract and management contract (in the water sector often called by the French term ''affermage''), are closely related but differ from a concession in the rights of the operator and its remuneration. A lease gives a company the right to operate and maintain a public utility, but investment remains the responsibility of the public. Under a management contract the operator will collect the revenue only on behalf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public–private Partnership
A public–private partnership (PPP, 3P, or P3) is a long-term arrangement between a government and private sectors, private sector institutions.Hodge, G. A and Greve, C. (2007), Public–Private Partnerships: An International Performance Review, Public Administration Review, 2007, Vol. 67(3), pp. 545–558 Typically, it involves private capital financing government projects and services up-front, and then drawing revenues from taxpayers and/or users for profit over the course of the PPP contract. Public–private partnerships have been implemented in Public–private partnerships by country, multiple countries and are primarily used for infrastructure projects. Although they are not compulsory, PPPs have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems. Cooperation between private actors, corporations and governments has existed since the inception of sovereign states, notably for the purpose ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lean Construction
Lean construction is a combination of operational research and practical development in design and construction with an adoption of lean manufacturing principles and practices to the end-to-end design and construction process. Lean Construction required the application of a robust programmatic framework to all repair, renovation, maintenance, and or new build activities. While each project may be unique, the application of LEAN fundamental should be applied consistently. Lean Construction is concerned with the alignment and holistic pursuit of concurrent and continuous improvements in all dimensions of the built and natural environment: design, construction, activation, maintenance, salvaging, and recycling (Abdelhamid 2007, Abdelhamid et al. 2008). This approach tries to manage and improve construction processes with minimum cost and maximum value by considering customer needs. (Koskela et al. 2002) Historical development The origins of many fundamental concepts of LEAN and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Institute Of Architects
The American Institute of Architects (AIA) is a professional organization for architects in the United States. It is headquartered in Washington, D.C. AIA offers education, government advocacy, community redevelopment, and public outreach programs, and collaborates with other stakeholders in the design and construction industries. History The American Institute of Architects (AIA) was founded in 1857 in New York City by a group of thirteen architects. The founding members include Charles Babcock (architect), Charles Babcock, Henry W. Cleaveland, Henry C. Dudley, Henry Dudley, Leopold Eidlitz, Edward Gardiner, Richard Morris Hunt, Detlef Lienau, Fred A. Petersen, Jacob Wrey Mould, John Welch (architect), John Welch, Richard M. Upjohn, and Joseph C. Wells, with Richard Upjohn serving as the first president. They held their inaugural meeting on February 23, 1857, and invited 16 additional architects to join, including Alexander Jackson Davis, Thomas Ustick Walter, Thomas U. Walte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Integrated Project Delivery
Integrated project delivery (IPD) is a construction project delivery method that seeks the efficiency and involvement of all participants (people, systems, business structures and practices) through all phases of design, fabrication, and construction. IPD combines ideas from integrated practice and lean construction. The objectives of IPD are to increase productivity, reduce waste (waste being described as resources spent on activities that do not add value to the end product), avoid time overruns, enhance final product quality, and reduce conflicts between owners, architects and contractors during construction. IPD emphasizes the use of technology to facilitate communication between the parties involved in the construction process. Background The construction industry has suffered from a productivity decline since the 1960s while all other non-farm industries have seen large boosts in productivity. Proponents of Integrated project delivery argue that problems in contemporary co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
And/or Engineer
And/or is an English grammatical conjunction used to indicate that ''one, more, or all'' of the cases it connects may occur. It is used as an inclusive ''or'' (as in logic and mathematics), because saying "or" in spoken or written English might be inclusive or exclusive. The construction has been used in official, legal, and business documents since the mid-19th century, and evidence of broader use appears in the 20th century. It has been criticized as both ugly in style—by many style guides, including the classic ''The Elements of Style'' (from William Strunk, Jr. and E.B. White)—and ambiguous in legal documents—by American and British courts. Alternatives Two alternatives have been proposed. The first, when used for just two items, is to replace "''x'' and/or ''y''" with "''x'' or ''y'' or both." The second is to simply choose which of ''and'' or ''or'' to use. Mutual exclusivity The word ''or'' does not entail mutual exclusivity by itself. The word ''either'' can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
