Project Development and Optimization - Assignment PDF
11 Pages2503 Words53 Views
Added on 2021-04-17
Project Development and Optimization - Assignment PDF
Added on 2021-04-17
ShareRelated Documents
Running head: PROJECT DEVELOPMENT AND OPTIMIZATIONProject Development and OptimizationName of the StudentName of the UniversityAuthor Note
1PROJECT DEVELOPMENT AND OPTIMIZATIONTable of ContentsLiterature Review............................................................................................................................2Introduction..................................................................................................................................2Allocation of project....................................................................................................................2Project Delivery Method..............................................................................................................3Project allocation and Project delivery method...........................................................................4Advantages..............................................................................................................................4Disadvantages..........................................................................................................................5Project Management Economics.................................................................................................5Project Optimization....................................................................................................................7References........................................................................................................................................9
2PROJECT DEVELOPMENT AND OPTIMIZATIONLiterature ReviewIntroductionThe project development and optimization are two related terms where the latter occursonly if the former has occurred. There is a need of effective project development andoptimization to ensure effective construction and finding alternative options to achieve theproject performance (Kaiser, El Arbi and Ahlemann 2015). The project management plays a vitalrole in the successful development of a project. Project management has various aspects whichplays different roles in different sectors of the project. The project delivery method, projectmanagement economics and project optimization are the factors which is initially required to beevaluated for construction of any project.Allocation of projectThe allocation of project is the important phase of the project development wherecontractors and subcontractors are chosen based on the requirement of the project. A case studyon shopping centre in Norway shows the challenges faced by while handover to the contractors(Firing, Lædre and Lohne 2016). The challenges related to this case study are short constructionperiod, lack of quality assurance and unexpected structural challenges and market sharefluctuations. These challenges show that there to allocation of project to the right contractor isnecessary for the effective development of the project. The case study also suggests potentialmeasures for the challenges. They are mutual agreement and delivery control, between contractorand owner. The contractor is not the only individual who does the project; there aresubcontractors under the contractors who work. The relationship between contractors andsubcontractors is necessary to effectively contribute in construction. A case study in Hong Kong
3PROJECT DEVELOPMENT AND OPTIMIZATIONdescribing the impacts of relationship between contractors and subcontractors shows its effect inconstruction (Tan, Xue and Cheung 2017). This study shows that positive relationship willmaintain collaborative/partnering relationship between contractors and subcontractors. Theproject construction success depends on relationship between contractors and subcontractors.The allocation of project for small projects such as building a shopping centre in a localityrequires an individual contractor (Sharkila et al. 2016). Small projects require low costs to beinvolved and lesser risks. An individual contractor can handle all the tasks equally andeffectively.Project Delivery Method The project delivery method is a method that is used by an owner or agency to organizeand finance design for entities. This is done along with construction, operation and maintenancefor entities facility with legal agreements in consideration. There are three common projectdelivery methods that are discussed as follows. They are design-bid-build, construction managerand design-build (Fong, Avetisyan and Cui 2014). The design-bid-build method is defined as acontract documents development between an owner and contractor consisting of a set ofblueprints and brief specification. Bids are done on this contract documents. The constructionmanager method is described as contract documents that are partially completed and ownerproceed with the contractor. The bids are promoted as the contract documents get completed.The design-build method is defined as a conceptual plan which is developed by the owner andthen promotes bids from joint ventures of contractors. The project delivery methods nowadays have been making every industry more complexas there are different approaches of different sectors. The extensive evaluation of contractors isnecessary to get their details. The previous experience and performance of contractor is
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Project Execution Planning & Management (DOC)lg...
|10
|2860
|104
BCO1102 - Project Execution Planning and Management - APIC Case studylg...
|13
|3053
|42
Construction Management Assignment | Tendering and Contractlg...
|4
|721
|104
Planning and Management- Projectlg...
|13
|2890
|42
Project Execution Planning and Management: Methods and Financial Contractslg...
|8
|2905
|243
Contract and Procurement Management Plan for Greenwich Private Limitedlg...
|14
|2801
|302