Design-Bid-Build Process of Project

   

Added on  2020-02-24

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Running head: PROJECT EVALUATION AND MANAGEMENTProject Evaluation and ManagementName of the StudentName of the UniversityAuthor’s Note:
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1PROJECT EVALUATION AND MANAGEMENTTable of ContentsProject Delivery System..................................................................................................................2Design-Bid-Build.........................................................................................................................2Design-Build................................................................................................................................3CM @ Risk..................................................................................................................................3Financial Contract type....................................................................................................................6Lump Sum Contract.....................................................................................................................6Guaranteed Maximum Price Contract.........................................................................................7Cost Plus Fixed Fee Contract......................................................................................................7Procurement Method.......................................................................................................................9Competitive Method....................................................................................................................9Negotiated Method....................................................................................................................10Best Value Method....................................................................................................................10References......................................................................................................................................13
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2PROJECT EVALUATION AND MANAGEMENTProject Delivery SystemDesign-Bid-BuildThis Design-Bid-Build process of project delivery system comprises of the three phasesthat are designing phase, bidding phase and building phase. In the very first phase, the projectowner recruits a designer to make the design of the project plan and to provide the requireddocuments that are related to the tender of the project (Kerzner, 2013). The designer needs to dothe design in presence of the project owner until the project is completed in order to check theproject execution that whether it is meeting the project requirements. Once the initial design isdone, various engineers will be recruited by the designer to do the task with him so that they canproduce the project successfully and completed. The bid document will be made at the finishingtime and therefore then the second phase will begin. There are various contractors, who willalways try to take the project tender. These people are known as general contractors. The smallercontractors and the general contractors usually take the project tender. All the participants of thebidding auction get to know the bid documents and thus they know it very well that whether theywill be able to do the project or not (Burke, 2013). The project owner however, has the authorityto reject all of the participants and to set up a brand new time and date for again the biddingauction to happen, so that he can select the best alternative and complete the project in low cost.Once the contractor is selected, there is no chance of changing the bid document. Variousauthorizations are needed to be taken by the general contractor to start the task of the project.The builder documents the time limit of that project to manufacture a successful document at thefinishing time of the project (Larson & Gray, 2013). The designer, who was recruited by the
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3PROJECT EVALUATION AND MANAGEMENTproject owner does his work as a chosen worker of the owner, and with the general contractor toverify whether the project is undergoing according to the requirements or not.Design-BuildThis Design-Build process is done to appoint an architect and a general constructor.These people will do the planning, designing and the project implementation right from thebeginning till the conclusion (Walker, 2015). This is not the phase of giving the tender of theproject to any other contractor. Moreover, the design build phase mostly aims on the partnershipact or the joint venture within the respective organization and the designer.CM @ RiskIn the CM @ Risk method, the constructor is given a particular construction project afterthe design is made or the phase of designing (Schwalbe, 2015). The particular constructor isallocated with the bidding of lowest price. It is the responsibility of the allocated constructor toaccomplish the project successfully (Minchin et al., 2013). The evaluation of this project can be classified into several smaller classifications. Theyare as follows:a) Delivery Time – This particular time refers to the entire project schedule, right fromthe starting till the execution of the project. This is extremely crucial for any project (Boyle,2017). b) Project Innovation – New and innovation ideas and planning are required for allprojects. However, this may bring certain risk factors for the project.
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