Heavy on the other hand refers to everything bigger and heavier including skyscrapers, high rise hotels, airports etc.
Even if construction industry is suffering slightly, it is the commercial construction sector that provides the much needed stability. Commercial real estate in 2002 accounted for the biggest share of the construction industry.
Those who are thinking of entering the market and succeeding need to consistently come up with new and better projects that meet the requirements of the community. It is widely believed that the more a dealer or builder pays closer attention to smaller details of community's needs and requirements, the better are his chances of coming up with just the product that community would respond to.
Knowledge is critical for success and therefore a person entering the market must build on solid market information. He must come into the industry fully equipped with the right arsenal. he/she should know exactly what is needed and how much investment in terms of labor and capital is required. Staff requirements must be kept in mind and the people hired to work with the builders should be knowledgeable people with considerable years in the field.
Knowing and recognizing the niche is usually the first step but without the support of knowledgably staff. For example...
"Brainstorming, scenario planning, and expert interviews is the tools highway engineers commonly use in routine engineering and construction management tasks." (U.S. Department f Transportation 2007 P. 2). Table 3 reveals the summary of the tools and technique in the risk identification process. Table 3: Risk identification tools and techniques PROJECT-SPECIFIC DOCUMENTS PROGRAMMATIC DOCUMENTS TECHNIQUES Project description Work breakdown structure (WBS) Cost estimate Construction schedule Procurement plan Team issues and concerns Historic data Checklists Final project reports Risk response plans Organized lessons learned Published commercial databases Academic
(in its turn, the financial environment must be understood with reference to the wider economic situation.) Cost control is the activity which compares cost performance against the cost plan, adjusting one or the other dynamically by reference to the changing circumstances in the project's financial environment. (Hughes, 1991, p.1) 2. Time Control -. Timing is influenced by many environmental factors, but the client's attitude to the timing of the project
According to Finkel (1999), "The American construction industry is a vibrant and dynamic segment of the overall economy. It is annually responsible for nearly 4% of the nation's gross domestic product (GDP)" (p. 3). The historic performance of the construction industry has remained positive, even during downturns in the national economy. In fact, the last decade has been a period of healthy growth from the construction industry worldwide; however,
Framework Analysis & Review As is also noted in the methodology of this report, the overall basis and goal of this report is to assess the widespread and national-level Dutch construction fraud scandal that erupted and came into full bloom in 2001. As will become clear throughout this framework and paradigm analysis, the presence of fraud within the Dutch construction industry and environment is without question and this was especially true
When it comes to any crime or series of crimes, there are three main components that are typically present when it comes to the people involved. Those three parts would be the opportunity, the financial pressure involved and the rationalization. Opportunity In the case of the 2001 Dutch construction fraud episode, the opportunity would be created by the fact that the regulation and control of the Dutch construction market was not pressing
Introduction Sustainability, a word most often discussed, yet least understood is a topic of interest in today’s growing society. With various interpretations offered, some treat sustainability in a superficial way. However, for many businesses, nations, and individuals that believe in the future sustainability has to offer, the word is a serious one aimed at promoting efficient use of resources, a chance at stable economic growth, and continued social progress. In modern
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