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Construction Management Assignment (Doc)

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Added on  2020-05-28

Construction Management Assignment (Doc)

   Added on 2020-05-28

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Running Head: CONSTRUCTION MANAGEMENTConstruction ManagementNameInstitutional affiliation
Construction Management Assignment (Doc)_1
CONSTRUCTION MANAGEMENT 2Construction ManagementThis research paper is about construction management. The subtopics discussed in this paper include the risks that are faced by a contractor when bidding a lump sum job for the construction of office building, the criteria that can be used by a contractor when bidding on a construction project, negotiation strategies that can be employed by the contractor, and ways of going through this conversation of negotiation. Risks faced when biddingConstruction is a risky business because of the high number of failures that have occurred in the construction firm on yearly basis. There are numerous risks which will be faced by a contractor when bidding a lump sum job for the construction of an office building in an urban setting for a private developer with who the contractor have never done any business 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 be competitive[ CITATION Cla141 \l 2057 ]. However, unless the effect of uncertainties and potential risks is understood, it will be impossible 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 construction project located in a city in which the contractor has never had a previous project. Some of these 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[ CITATION Lav11 \l 2057 ].Criteria to be used by contractor
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