StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Procurement Routes/Sustainability/Project Management - Research Proposal Example

Cite this document
Summary
One of the primary considerations in procurement contracts for construction projects is to obtain the best value for money over the life of the facility and not on the initial capital cost only. Value for money is the optimum combination of whole life costs and quality for…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Procurement Routes/Sustainability/Project Management
Read Text Preview

Extract of sample "Procurement Routes/Sustainability/Project Management"

Download file to see previous pages

1) delivers the strategy for procurement, including the contract strategy that best meets the client’s needs. Design, construction, operation and maintenance are considered as a whole ensuring that the delivery team works together as an integrated project team. Contract strategy determines the degree of integration of design, construction and ongoing maintenance. Also, it serves to support project objectives in terms of risk allocation, delivery, incentivisation, etc. Factors influencing procurement strategy include the project objectives; constraints such as budget and funding; cultural factors such as considerations about the workplace; risks such as late completion, use of materials, etc.

; client’s capabilities to manage a project; and the length of operational service required from the facility (Office of Government of Commerce, 2007). Optimal contracts entail cost sharing and payments that are a convex function of realized cost in the classical model of procurement under conditions of asymmetric information. Contrastingly, pure cost-reimbursement contracts are in common practice (Chu & Sappington, 2009). Laffont and Triole did pioneering work to identify optimal procurement contract where supplier could inflate production cost without detection.

An alternative contract could outperform the contract, when the buyer has the ability to limit cost inflation (Chu & Sappington, 2007). This allows the supplier to reduce production costs when costs are higher initially. Evaluation is necessary to determine how well the procurement would deliver value for money. The criteria for evaluation (see Table 1) should be selected carefully so that they relate to aspects that determine value in whole-life cost terms. Each criterion is given a percentage weighting so that the total weightings add up to 100%.

This mechanism provides a means for reaching decision about the procurement route that would deliver the greatest value for money (Office of Government of

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Procurement Routes/Sustainability/Project Management Research Proposal”, n.d.)
Procurement Routes/Sustainability/Project Management Research Proposal. Retrieved from https://studentshare.org/miscellaneous/1559384-procurement-routessustainabilityproject-management
(Procurement Routes/Sustainability/Project Management Research Proposal)
Procurement Routes/Sustainability/Project Management Research Proposal. https://studentshare.org/miscellaneous/1559384-procurement-routessustainabilityproject-management.
“Procurement Routes/Sustainability/Project Management Research Proposal”, n.d. https://studentshare.org/miscellaneous/1559384-procurement-routessustainabilityproject-management.
  • Cited: 0 times

CHECK THESE SAMPLES OF Procurement Routes/Sustainability/Project Management

Procurement and management of construction

PROCUREMENT AND management OF CONSTRUCTION Name: Institution: Introduction Background literature review The relationship between consultants, clients and construction companies are commonly described using the procurement methods that ensure realization of building projects.... It is major contributing factor to client satisfaction in the entire processes as well as the accomplishment of the plan with reference to the above descriptions and definition of the project participants and authorities (Cox 2005, p 75)....
11 Pages (2750 words) Essay

Comparing and Contrasting HHS, NASA and DHS Acquisition Planning and Policies

This technique also referred to as design bid build procurement, is efficient regardless of an individual's knowledge concerning project management.... In HHS, each contracting activity shall prepare an annual Acquisition plan as far in advance with each fiscal year as possible The sustainability of a procurement approach is considered when a contracting a project.... It took the council a while before amassing sufficient the funds to carry out this community project; thus, cost became a critical issue in the method used....
6 Pages (1500 words) Essay

Personal development record

Professional attributes cover engineering knowledge, application, management and leadership, independent judgement, commercial ability, health safety and welfare and sustainable development.... procurement, and procurement options, health and safety, information technology, and environment issues incorporated in the module presented not only the responsibilities of an engineer but that the profession has great influence in several areas in the society....
18 Pages (4500 words) Coursework

Royal Institute of British Architects

The Royal Institute of British Architects (RIBA) has been providing the regulatory framework for the building construction industry in the UK since 1963.... his paper discusses these issues showing how they have been integrated in the various stages in the plan of work and the different tasks that take place at each stage....
22 Pages (5500 words) Essay

Contract and procurement management

This paper is about a transportation… I am studying about the upcoming project of a client, Ruralshire County Council, which is based in Southern England.... This report intends at identifying the important of this project.... This report also intends at identifying the important of reverse e-auctions for the upcoming project.... Moreover, this report ends at presenting a business case that identifies the benefits, costs, risks and gaps of the upcoming project (Worksafe....
8 Pages (2000 words) Case Study

Project Management Plan

arious procurement routes may be employed by the company in acquisition of the necessary resources for the project.... his been a project of construction, there will be requirement of management procedures that will see the project a success.... Apart from monitoring the project, the management's major role will be to ensure effective and efficient procurement process.... They include traditional, design and build management, contracting, construction management and...
6 Pages (1500 words) Research Paper

The Impact of Recession on Construction Procurement Routes

Eriksson and Westerberg (2011) suggest, however, that collaborations and cooperation in procurement routes can mediate client concerns over cost, time and quality while at the same time satisfying the government's sustainable development policy in the built environment.... Thus procurement routes are expected to increase (Eadie, McKeown, & Anderson, 2013).... 2013) argue that collaborative procurement routes are the preferred method for improving efficiencies, lowering costs and at the same time managing time and quality to the satisfaction of both government and clients....
24 Pages (6000 words) Research Paper

Design of a Route around the Global Village Entrance

The project "Design of a Route around the Global Village Entrance" aims to reduce the traffic congestion on the Al Zayed Road and the Al Nahyan at the cloverleaf interchange to reduce the number of accidents, time wastage due to the improved cars flow, increase road efficiency and safety.... hellip; To execute this project, the RTA will have to construct full cloverleaf interchange; Semi-Directional Ramps will also be necessary and overall adding distributor roads that will accommodate the Hamden Sports Complex....
32 Pages (8000 words) Dissertation
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us