Construction Project Financing/Valuation
Market eview
A brief search of Internet-listed one-bedroom apartments in Abu Dhabi confirms a current yearly rental price of AED 75,000 for most properties in the city (Justentals.com, 2012). Many apartments located in different buildings and in different [arts of the city are listed for exactly this amount, though some were also found for lower (AED 60,000) and several were found that were higher (approx. AED 85,000), however as an average current price AED 75,000 seems quite accurate (Justentals.com, 2012). Likewise, an estimation of AED 120,000 as the current annual average rent for a two bedroom is also fairly accurate; there is a greater variance observed in prices for two bedrooms that is likely reflective of differences in actual size and also appears to be neighborhood- and building-driven to a greater degree than is the pricing of one-bedroom apartments, however AED 120,000 does seem to be a fair…...
mlaReferences
Jones, M. (2011). CEO Magazine Interview. Accessed 10 April 2012. http://www.ceoqmagazine.com/economicoutlook/gcceconomicoutlook.htm
JustRentals.com. (2012). Accessed 10 April 2012. http://www.justrentals.com/abu-dhabi-rent/1-bedroom-abu-dhabi-apartments-for-rent.html
PropertyWire.com. (2012). Downturn for property rents in Abu Dhabi as market is flooded with new supply. Accessed 10 April 2012. http://www.propertywire.com/news/middle-east/abu-dhabi-rental-prices-201203286352.html
Reuters. (2011). S&P keeps Abu Dhabi outlook. Accessed 10 April 2012. http://www.emirates247.com/business/economy-finance/s-p-keeps-abu-dhabi-outlook-2011-05-24-1.396898
Project managers, by virtue of their position, have the ability to directly impact the projects they oversee. As such, the overall quality of the construction work, in part, is correlated to the manager's ability to direct others. By facilitating a mutual exchange of both information and responsibilities, project managers provide reassurance that work is completed in an effective manner. To best prepare for their roles and responsibilities project should undertake three primary tasks. First, project managers should consult with client to properly evaluate the overall contract terms, and requirements. Second, the project manager is to provide each member of their respective teams, key metrics of performance evaluation to meet contract requirements. Finally, project managers should create communication networks with the applicable clients to ensure that contract requirements are being met. By utilizing these three methods of preparation, project managers can ensure that their client's requirements are being met in an…...
mlaReferences:
1) Bjarne Kousholt (2007). Project Management -- . Theory and practice.. Nyt Teknisk Forlag. ISBN 87-571-2603-8. p.34-59.
2) Joseph Phillips (2003). PMP Project Management Professional Study Guide. McGraw-Hill Professional, 2003. ISBN 0-07-223062-2 p 45- 61
esidential Construction Project
Version description/reason for updating the document
Initial version
The company will provide project management services to the client for all stages of the residential home construction. Our process consists of the following phases, which are greatly simplified here: Initiating, planning, executing, controlling, and closing.
Project scope:
This project is being undertaken in order to build a new residence for the Jones family. The construction project is for a single-family swelling on a half-acre lot located at 100 Blue Spruce Lane, in Waterstown, New York. The project will commence on January 4, 2015 and be completed by Monday, December 22, 2015. The construction will emphasize use of the energy-saving technologies and will be compliant with all relevant building codes. The company will oversee the construction of the home, however, bonded subcontractors may be engaged to complete certain aspects of the construction.
The contract is fixed-price, with the contractor estimate at approximately U.S. $450,000. The…...
mlaReferences
Fisk, ER, & Reynold, WD. 2013. Construction project administration, 10th edn. Upper Saddle River, New Jersey: Prentice-Hall.
Levy, SM. 2011 Project management in construction. New York, NY: McGraw-Hill.
Concrete, Iron, ceramics, pipes are important in the structure of buildings and in Iran a lot of times these materials are substandard and would not withstand an earthquake or other significant trauma.
Iran must explore new and better ways of constructing buildings so that safety becomes the most important factor. By looking at and examining the obstacles that the Iranian construction industry faces and gaining a better understanding of these is key to ensuring that in the future there is a chance that construction in Iran is safer, cheaper and overall better for everyone. Positive solutions can come from this research and study and new, safer methods and practices can be implemented to ensure that construction in Iran is successful.
Conclusion
In conclusion it is apparent that Iran must explore new and better ways to fund construction projects and programs as well as find ways to ensure that the buildings that are…...
Superior Living
For the plant construction project, we need to have a way to determine if this project is something we should do or not. There are a number of different ways the firms evaluate such projects, but the most common are the net present value (NPV), internal rate of return (IRR) and the modified internal rate of return (MIRR). Each of these is based on the concept of discounted cash flow. The incremental cash flows of the project are evaluated to determine whether or not there is a positive cash flow, on a time-adjusted (discounted) basis (Investopedia, 2012). In theory, if the project makes a positive contribution to the company, it should be accepted. In practice, companies face decisions between mutually exclusive options. Given our tight financing, that might be the case here. So the different projects that people want to have financed will need to be evaluated against each…...
mlaWorks Cited:
Investopedia. (2012). Capital budgeting. Investopedia. Retrieved March 6, 2012 from axzz1oHefP0yK
No author. (2012). Modified internal rate of return -- MIRR. Think & Done. Retrieved March 6, 2012 from http://finance.thinkanddone.com/mirr.html
Conclusion
In undestanding the facets of a PFI/PPT constuction endeavo, one must fist undestand the afoementioned facets of the patneship that will come into play fom the constuction poject's inception to its completion. The decision to engage in such an endeavo is clealy one that is subjective, but should be undetaken caefully in gauging the isks involved.
Refeences
Akintoye, A., Bing, L., Edwads, P. And Hadcastle, C. (2004). Risk allocation pefeences in PPP/PFI Constuction Pojects. Web. Retieved fom: http://www.ics.og/site/download_feed.aspx?fileID=2640&fileExtension=PDF on 17 Novembe 2011.
Dillon, M. (2009). PFI constuction contacts -- what they don't want you do know. Silve Shemmings LLP. Web. Retieved fom: http://www.silve-shemmings.co.uk / aticles/pfi-constuction-contacts-sept-2009.pdf on 14 Novembe 2011.
Feachem, R., Ni, A., and Sekhi, N. (2011). Public-pivate integated patneships. Health Affais, 30.8: pp. 1498-1508. Web. Retieved fom: LexisNexis Database.
Haiston, R. (2005). Pesentation: integating pocuement and poject management. 10th
Annual Intenational Supply Management Confeence. Web. Retieved fom: http://www.ism.ws/files/Pubs/Poceedings/BEHaiston.pdf on 14 Novembe 2011.
Hendickson, C. (1998). Poject…...
mlareferences in PPP/PFI Construction Projects. Web. Retrieved from: on 17 November 2011.http://www.rics.org/site/download_feed.aspx?fileID=2640&fileExtension=PDF
Dillon, M. (2009). PFI construction contracts -- what they don't want you do know. Silver Shemmings LLP. Web. Retrieved from: / articles/pfi-construction-contracts-sept-2009.pdf on 14 November 2011.http://www.silver-shemmings.co.uk
Feachem, R., Ni, A., and Sekhri, N. (2011). Public-private integrated partnerships. Health Affairs, 30.8: pp. 1498-1508. Web. Retrieved from: LexisNexis Database.
Hairston, R. (2005). Presentation: integrating procurement and project management. 10th
Annual International Supply Management Conference. Web. Retrieved from: on 14 November 2011.http://www.ism.ws/files/Pubs/Proceedings/BEHairston.pdf
Decision
As the general contractor of a medium size, one of the most important decision points in construction is a go no-go decision. Go no-go decisions have become common in the modern construction industry because of the changing marketplace that has in turn generated complex procurement choices. In light of the changing marketplace in the construction industry, construction companies face new challenges in identifying the most suitable project proposals to adopt and develop vetting measures that help in making the appropriate go no-go decision (Illia & ubin, 2014). Despite the complexities of such decisions, go no-go decisions remain very crucial choices in this sector because of their significance in weighing costs for the most appropriate project fit.
Contractors need to conduct a go no-go analysis in order to determine the best project fit depending on project specifications and needs. The analysis helps in several aspects including serving as a process of…...
mlaReferences
Bagies, A and Fortune, C (2006) Bid/ no-bid decision modelling for construction projects. In: Boyd, D (Ed) Procs 22nd Annual ARCOM Conference, 4-6 September 2006, Birmingham, UK, Association of Researchers in Construction Management, 511-521.
Bryan Construction Inc. (n.d.). Design-Bid-Build Construction Projects. Retrieved February 14, 2017, from http://bryanconstruction.com/company/articles-info/design-bid-build-construction-projects/
Illia, T. & Rubin, D.K. (2014, October 6). Firms Refine Steps to Bid the Right Job. Retrieved February 14, 2017, from http://www.enr.com
Rudy, L.J. (2014, June 11). Getting Started with Go/No-Go Decision Making. Retrieved February 14, 2017, from -- cms-21362https://business.tutsplus.com/articles/getting-started-with-gono-go-decision-making
Project Management
How well the client's value was understood.
Normally the client's values are not understood well or possibly at all. This often results in many delays or modifications because if the values are not understood then the quality is unlikely to meet the end-users expectations. There are many ways to try to mitigate these risks in a project during the planning phase. However, there are often a wide variety of different stakeholders that may have different expectations for the project. Therefore, it is important to incorporate as many viewpoints as possible to get something of a comprehensive account of the stakeholder's values. Furthermore, in many cases stakeholders do not realize what their own values and expectations for a project actually are. Thus it is important for a project manager to try to tease out as much critical information from the stakeholders as possible so that they know how to plan for…...
The project manager should at all times be present to monitor and ensure that it's the correct mixing of materials being done, it's the right quality of material being used, and it's the right amount of time being given to the treatment process in the different construction phases. In the event that this is not observed, and the building is erected, there's a high probability that the building will deteriorate at an early stage before its lifespan or even collapse as witnessed almost daily Zwikael and Ahn, 2011()
As a construction is ongoing, a major contribution to its success is the relationship between the different stakeholders. This includes the architect, the engineer, the owner, the contactor and the workers. In order to smoothly run the project and limit malice and incorporation, there should be a union and set goals and objectives between all these parties so as to ensure everyone…...
mlaReferences
BUYS, A., BENDEWALD, M. & TUPPER, K. 2011. Life Cycle Cost Analysis: Is it Worth the Effort? ASHRAE Transactions, 117, 541-548.
CHRIS HENDRICKSON 1998. Project Management for Construction. 2 ed.: Prentice Hall PTR.
EHRENFELD, J.R. 1996. Risk Assessment and Management: A Critique of Current Practices and Policy Implications. Organization & Environment, 9, 376-404.
GURCANLI, G.E. & MUNGEN, U. 2009. An occupational safety risk analysis method at construction sites using fuzzy sets. International Journal of Industrial Ergonomics, 39, 371-387.
Project Management
Project Schedule
To develop a schedule for a project, we will use the concept of a project network, which shows work activities taken from the work breakdown structure and organized according to the logical flow in time and relationships governing when the work will be performed.
Combining this network of work activities with estimates of the time duration for performing each of the activities, create a schedule for the project work.
When planning a project, one of the key steps is to develop a work breakdown structure for the project. This lets the project team know all the steps necessary to complete the project. Each activity can be broken down into a time estimate and then these can be compiled in an overall project schedule. Some of the activities can be completed at the same time while others will have to be finished before the next activity can begin. For example, in…...
(Braunschweig; Day, 150)
Most of the current generation of project managers expects the project management tools to furnish them with almost real-time knowledge in order to facilitate their decision-making. Some of these tools like DOFF, "Field of the Future," "Smart Fields," Microsoft's "Oilfield Connectivity" and i-Fields are currently being examined by exploration and production oil companies. Some of these tools have the capability of generating information from apparently incongruent data and helping managers take important decisions based on them. (Oilfield Connectivity - Capturing the Value of the Digital Era)
There is substantial amount of risk in oil exploration and production since the concerned target is located many thousands of feet under the ground. There are a number of factors that can cause uncertainties and risks in these fields which may include the weather, people, geology, safety, and availability of tools and equipment. Agility is an important requirement in the oil fields,…...
mlaReferences
Barkley, Bruce T. Integrated Project Management.
McGraw-Hill Professional, 2006.
Braunschweig, Bertrand; Day, Ron. Artificial Intelligence in the Petroleum Industry:
Symbolic and Computational Applications. TECHNIP. 1995.
This can subsequently result as the massive benefits to the commercial contestants devoid of the incurring of the extra cost that pertaining to such commercial participants. The participation of the export credit agencies accompanied by the existing multilateral developments institutions normally results to the lofty stage of the ecological, employment and other supplementary social standards, which are extremely expensive and cumbersome to, accomplished.
The application these existing social standards are normally highly significant to these multilateral institutions concerning the outline policy perspectives accompanied by the chief structures and the existing projects.
These policies perspectives and the chief aims enhance the best practice that pertains to the execution of communications and the whole projects. Numerous leading private sponsors and the existing commercial lenders have finally commenced the process of incorporating of these standards. These standards include the equator principles and the other existing ecological requirements that are aimed at safeguarding of the…...
mlaWork cited
Al-Jassar Ahmed & Massachusetts institute of technology. 2005. International project finance.
Cambridge: Massachusetts Institute of Technology, Department of Civil and Environmental Engineering. Pages 21-234.
Dewar John. International Project Finance: Law and Practice. (Oxford: Oxford University
Publishing Press 2011)
The project manager must effectively utilize all of the communication methods available to them. They must choose the most appropriate method of communication for the workers and for the managers. The more workers and managers hear the messages, in as many sensory modes possible, the more likely the message will be to make an impact on a reduction in accidents on the job.
Language proved to be a problem in Australia's construction industry. Many of the safety programs are conducted in English, although a significant portion of workers in the industry are non-English speakers. Communication proved to be a significant problem in the successful implementation of safety programs. The key factors were the inability to understand government safety regulations and the inability to communicate these standards to the workers (Trajkoevski & Loosemore, 2005). Project managers must be aware of language barriers that may hinder the ability to communicate safety messages to…...
mlaReferences
Abudayyeh, O., Fredericks, T., Butt, S., & Shaar, a. (2006). An investigation of management's commitment to construction safety. International Journal of Project Management. 24 (2); 1767-174.
Building Chaos: An International Comparison of Deregulation in the Construction Industry. Contributors: Gerhard Bosch - editor, Peter Philips - editor. Publisher: Routledge. Place of Publication: London. Publication Year: 2002. Page Number: iii.
Boyd, C. (2003). Human Resource Management and Occupational Health and Safety. Routledge: New York.
Chiang, Y., Anson, M., & Raftery, J. (2003). The Construction Sector in the Asian Economies. Spon Press: New York.
Project Management: Case Study in Managing a Complex Shipyard Project in Singapore
Background of Complex Shipyard Construction Project
Company background
Project Overview and Objective
ork Process of Building Construction
Issue Analysis in Shipyard Construction Project Management
Literature Review of Project Management
Issues in Scope Management
Methodology of Scope Management
Lessons Learned from Scope Management
Issues in Cost Management
Methodology of Cost Management
Lessons Learned from Cost Management
Issues in Human Resources
Methodology of HR Management
Lessons Learned from Human Resource Management
Case Study in Managing a Complex Shipyard Construction Project in Singapore
Introduction.
This paper introduces the special features of a completed shipyard project, together with its construction and human resource management processes as well. The organization of the paper provides an introduction to the topic, an overview and background of the In the first part, this project illustrates overview of the complex background of a complex ship-building project as envisioned by Koppel Shipyards of Singapore, the project objective and the background of the company involved. A critical…...
mlaWorks Cited
Guide to the Project Management Body of Knowledge. Best Practices for Project Scope Planning. [Online]. Available: http://www.tensteppb.com/5.2.02TSProjectScopePlanningTechniques.htm .
About Us. (2004). Keppel Shipyard. [Online]. Available: http://www.keppelshipyard.com/corporate/aboutus.asp.
Badiru, Adedeji Bodunde. Quantitative Models for Project Planning, Scheduling and Control. Westport, CT: Quorom Books, 1993.
BP awards U.S.$20 million follow-up job to Keppel yard. (July 26, 2004). Keppel Corporation. [Online]. Available: http://www.kepcorp.com/press/press.asp.
Project Management and the Transformation System
In this research paper, the author discussed he concept of project management employing in a construction firm. The author described briefly, the mission of construction organization, i.e. its product and services, intended markets, and how the product or service is distinct from those offered by competitors. The author also analyzed the scope of integration of project management concepts such as; Project Planning, Portfolio, Life Cycle, Team Management, Scheduling and Controlling the Project. Firms can benefit by integrating project management concepts to overcome the issues like team management, planning and managing. A project is considered winning if it completes on time, goes on to follows a pre-set schedule, remain within the provided budget, and finally its customers are pleased. For successful completion and for the satisfaction of costumers, it should have a specific time frame and must achieve the prior set targets by deploying resources both…...
mlaReferences
Bennet F. Lawrence (2003), The management of construction: a project life cycle approach, UK: Oxford: Butterworth-Heinemann
Derek Torrington and Laura Hall (2001), Personnel Management HRM in Action, UK: Prentice Financial times
Gail Blackstone (2003), Performance Management in Project Management, UK: Journal of Personnel Management
Gelbard, R. & Carmeli, A. (2009). The interactive effect of team dynamics and organizational support on ICT project success. International Journal of Project Management, 27(2), 464 -470. doi:10.1016/j.ijproman.2008.07.005
Mudslides: A Devastating Threat to Communities
Mudslides, also known as debris flows, are fast-moving mixtures of soil, rock, water, and sometimes vegetation that can cause catastrophic damage and loss of life. These natural hazards pose a significant threat to communities located in mountainous or hilly areas, particularly during heavy rainfall or rapid snowmelt.
Effective Preparation and Response Strategies
Preparing for and responding to mudslides requires a comprehensive approach involving multiple stakeholders, including government agencies, emergency responders, community members, and landowners. Here are key strategies to mitigate the risks and enhance community resilience:
1. Hazard Identification and Mapping:
Conduct thorough geological surveys to identify areas....
Essay Topic 1: The Advantages and Disadvantages of Heavy-Duty Anchor Stakes in Construction
Opposing Viewpoint 1: Advantages
Exceptional Strength and Durability: Heavy-duty anchor stakes are made from high-strength materials, such as steel or aluminum, making them highly resistant to bending and breaking under significant loads. This durability ensures secure hold-downs for various construction applications.
Corrosion Resistance: Unlike wooden or plastic stakes, heavy-duty anchor stakes are often galvanized or coated with rust-resistant materials, making them impervious to corrosion and ensuring long-term performance in demanding environments.
Versatility: These stakes are available in various lengths and diameters, making them suitable for a wide range....
I. Introducing Notched Shear Connectors in CLT-Concrete Composite Floors
II. Key Benefits of Notched Shear Connectors
1. Waste reduction Repurposing building debris into clay bricks helps reduce the amount of waste sent to landfills, which can contribute to environmental pollution and depletion of natural resources. By reusing materials that would otherwise be discarded, sustainable construction practices can help conserve resources and reduce the overall environmental impact of construction projects. 2. Energy efficiency Making new clay bricks from repurposed building debris requires less energy than producing traditional bricks from raw materials. This can help reduce the carbon footprint of construction projects and lower their overall environmental impact. 3. Cost savings Repurposing building debris into clay bricks can....
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