Research Paper on Construction Management

Added on - 28 May 2020

  • 5


  • 1027


  • 3


  • 0


Showing pages 1 to 2 of 5 pages
Running Head: CONSTRUCTION MANAGEMENTConstruction ManagementNameInstitutional affiliation
CONSTRUCTION MANAGEMENT2Construction ManagementThis research paper is about construction management. The subtopics discussed inthis paper include the risks that are faced by a contractor when bidding a lump sum job forthe construction of office building, the criteria that can be used by a contractor when biddingon a construction project, negotiation strategies that can be employed by the contractor, andways of going through this conversation of negotiation.Risks faced when biddingConstruction is a risky business because of the high number of failures that haveoccurred in the construction firm on yearly basis. There are numerous risks which will befaced by a contractor when bidding a lump sum job for the construction of an office buildingin an urban setting for a private developer with who the contractor have never done anybusiness with. Bidding of such a project has a high degree of uncertainty making the outcomein terms of cost and timeline of the construction of the office building to be hard to predict.The constructor expects the timeline of bidding to be aggressive and the cost to becompetitive[ CITATION Cla141 \l 2057 ].However, unless the effect of uncertainties and potential risks is understood, it will beimpossible to determine how risky a give bid price may be in terms of making loss or profit.There are numerous risks which will be faced by a contractor when bidding on a constructionproject located in a city in which the contractor has never had a previous project. Some ofthese risks include uncertainty of project safety, constructability of the project, the inability ofthe owner to finance the project fully, material cost and inflation, and also water[ CITATIONLav11 \l 2057 ].Criteria to be used by contractor
You’re reading a preview

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Unlock This Document