Solution
Tp Academic answered on
Jul 27 2020
Running Head: PROJECT BASED ON CASE STUDY
13
PROJECT BASED ON CASE STUDY
PROJECT BASED ON CASE STUDY
Table of contents
Introduction 2
Project Delivery Method 3
Financial Contract Type 8
Strategy of financial contract 8
Procurement Method 10
Conclusion 11
Reference list 13
Introduction
Project delivery method helps to design the construction and certain kinds of operations for developing a project. It follows certain kinds of terms and conditions for the maintenance of the services of the construction. Therefore, the structure of the project is planned and well set to be used for execution. This study highlights specific details of project delivery that caters to analyze financial contract type and procurement method. Financial contracts including future contract, forward, option and SWAP contracts help to fund the project in a proper manner (Yoder et al. 2015). The risks of these contracts are low. Therefore, the management of the company prefers to use financial contract for the improvement of the construction for the future. These contracts are held between the two parties for maintaining the movement of cash for the future generations. The methods of project need procurement methods for the development of the project for the future. Several types of processes are followed in the procurement method (Christensen, Nikolaev & Wittenberg-Moerman, 2016). These are obtaining goods and services, terms and conditions. The further study is focused on the strategy as well as the plans of the procurement, financial and project delivery method. This assignment is based on the case study of APIC CONSULT. These methods follow specific routes for the making of the project. Therefore, the quality of the project becomes excellent and fair.
Project Delivery Method
Figure 1: Project Delivery Method
(Source: Created by Author)
Planning of project method
The project delivery method is a type of method that assists to design the construction and activities of the project. Project method follows specific terms and conditions for the development of the project. The management of the company does the project with the help of the methods of project. APIC CONSULT assists the project delivery method with an amount of AUD 1.5 million. The projects are compared with the companies of Larson and Sons, McCartney. Certain entities have participated in this project. These are JPM CO., Top Construction, and KLG Solution. However, in the case study, it is suggested, that the design of the M4 project is robust as well as complex (Roberts, 2015). It is occu
ing mainly because of the improper maintenance of the activity. As the workers of the project have come from different organization, therefore, certain kinds of problem are occu
ing in the process of execution project. In the recent times, the company is s facing certain kinds of complexities due to the negligence of operations in the execution of the project (Suprapto et al. 2016). In this case, the company should make advanced and progressive plans for the development of the project. Specific methods are designed bid build, construction manager at risk, design-build, integrated project delivery, public-private partnership. These methods are necessary for the production of construction project for the future generations.
Design-bid-build
Figure 2: Design bid build
(Source: Andenas & Negra, 2017)
Design-bid-build is a type of traditional method. It provides a
ight idea concerning the constructions as well as design. Most of the organizations prefer to use design bid build. The project of design bid build recruits a contractor for the making of the project. It offers low price for developing a construction assignment (Andenas & Negra, 2017). In this project, the contractors are removed from the project. Therefore, the cost of the project will be low. Moreover, the management of the company makes cost budget for the production of the project of construction for the future. The construction engineers are hired for the production of cost estimations as well as schedule (Agarwal et al. 2015). After this process, specific proposals of request are made for releasing the contractors of the project. In this design of project, the role of the contractor is to evaluate the price as well as documents of the project. On the contrary, the function of the construction engineer is to present the assignment of the bidder and to accept the bids of the contractor (Mesa, Molenaar & Alarcón, 2016). Therefore, the quality of the project will be good and better. However, these activities are done with the help of specific regulations.
Construction manager at risk (CMAR)
Figure 3: Construction manager at risk (CMAR)
(Source: Ali & Badinelli, 2016).
Another method is the construction manager at risk (CMAR). It is the most successful method for building a project. In this method, the construction managers are hired for the improvement of the project (Ali & Badinelli, 2016). However, the recruitment of construction managers are based on specific factors. These are standard of the project, schedule and estimation of cost. The primary function of the construction manager is to present the proper documents for the project. Individual prices are determined for the completion of the project. Another important fact is that the construction managers help to recognize the problems as well as complexities of the project (Mollaoglu-Korkmaz, Miller & Sun, 2014).
Design-build
Design-build recruits a company for the development of the construction project. The construction of this project needs low price. Estimation of cost and price are the two most essential components of the project. This project follows specific approaches and theories for improving the quality of the project. Therefore, the scope of the project will be increased for the future generations (Jones, 2014). The members of the organization mainly perform the activities of the design as well as the construction of the project. As the number of members of the design-build is more, therefore, there is an excellent chance of increasing conflicts in the organization. Hence, this project emphasizes on the working relationship between the team of the company. Therefore, the tendency of the conflict will be low (Seyis & Ergen, 2017). Design-build project will help to design the routes and roads of the M4. It will make the highways more extensive and prolonged.
Integrated project delivery method
Figure 4: Integrated project delivery method
(Source: Yun et al. 2016)
Integrated project delivery is an easy method for the development of the project. It ensures transparency as well as the efficiency of conducting the construction project. Certain principles are followed in doing this project. This design of project will assist the M4 project to build several roads and highways for the future. Most of the industries prefer this project. As this project offers low price, therefore, the project is completed in time (Yun et al. 2016). The owner is considered as the most critical person in the process of executing the project of construction. The operations of this project are performed together with the help of the team members of the organization. It helps the organization to meet the goals and objectives of the organization. However, individual contracts are signed between the companies (Ghanbaripour, Langston & Yousefi, 2017). Therefore, the work of the project will be completed randomly. People get numerous opportunities and scopes for the making of the project for the future generations. However, the members of this project face certain kinds of challenges as well as issues for the future.
Finance risk
In this project, there is a tendency of increasing specific financial and investment risks for the future (Fong, Avetisyan & Cui, 2014). Therefore, it affects the revenue infrastructure of the organization. In this case, the activities are not divided among the members of the...