The Construction Industry, which is the major source of employment opportunities to people of all walks of life, next only to agriculture, is now fully poised for full swing growth, after the jerk of demonetisation. The Builders too, who were initially showing resentment to RERA, are now fully satisfied with it, as it is only conditioning them for transparency in their activities.
CONSTRUCTION DISPUTES IN CONSTRUCTION WORK SITES AND THEIR PROBABLE SOLUTIONSIAEME Publication
All over the world the developing and developed nations are spending billions of
dollars each year to improve their existing infrastructure in order to bring it to next
level. Construction projects are generally considered as the back bones of each nation
be it any format. So when we talk about construction then it’s not alone generally it
involves different sectors such as electrical, mechanical and off course the civil sector
in order to work together as a single unit under one firm or organization. Here work is
divided into different small segments due to which different parties gets involved. The
construction projects requires highly specified designs , specifications and plans with
full detail not leaving a single scope of error. So being lengthy and complicated process
it undergoes through various phase which involves a hindrance popularly known as
disputes. It is nothing but a stage where contractor and client have different view or
prospective on any matter which needs to be sorted as soon as possible so as to maintain
smooth flow of work. So whenever there arise dispute it is followed by claims raised by
one or the other party which needs to be sorted out.
design bid build or Traditional contract shortcomings and alternative method,...Tehmas Saeed
discussion of time, quality and cost, Factors which shape and influence project success.procurement selection criteria, matrix, risk allocation of different contractual arrangements, procurement strategy,
CONSTRUCTION DISPUTES IN CONSTRUCTION WORK SITES AND THEIR PROBABLE SOLUTIONSIAEME Publication
All over the world the developing and developed nations are spending billions of
dollars each year to improve their existing infrastructure in order to bring it to next
level. Construction projects are generally considered as the back bones of each nation
be it any format. So when we talk about construction then it’s not alone generally it
involves different sectors such as electrical, mechanical and off course the civil sector
in order to work together as a single unit under one firm or organization. Here work is
divided into different small segments due to which different parties gets involved. The
construction projects requires highly specified designs , specifications and plans with
full detail not leaving a single scope of error. So being lengthy and complicated process
it undergoes through various phase which involves a hindrance popularly known as
disputes. It is nothing but a stage where contractor and client have different view or
prospective on any matter which needs to be sorted as soon as possible so as to maintain
smooth flow of work. So whenever there arise dispute it is followed by claims raised by
one or the other party which needs to be sorted out.
design bid build or Traditional contract shortcomings and alternative method,...Tehmas Saeed
discussion of time, quality and cost, Factors which shape and influence project success.procurement selection criteria, matrix, risk allocation of different contractual arrangements, procurement strategy,
Brief introduction to Professional Practice Course (BTCE-605 as per Punjab Technical University), also known as Building Costing and Estimation in some institutions.
Risk Assessment, Mitigation And Management In Epc Projects With Case Study By...HIMADRI BANERJI
Risk Assessment, Analysis, Mitigation and Management of EPC is therefore, of prime importance today especially with newer risks thrown open by the global economic meltdown related risks, risk related liabilities for performance are allocated to the EPC contractor, with instruments as Liquidated Damages, Extended Guarantees, Latent Defect Liabilities etc.
Construction Contracts: Basics of Contracts and Contract AdministrationGerald R. (Jerry) Genge
The CCDC 2 Stipulated Price Contract is the "go to" document for construction contracts. Learn the basic components and roles of eth parties to the contract.
Chapter 3How We Get the Work In This Chapter ◆◆ How the .docxketurahhazelhurst
Chapter 3
How We Get the Work
In This Chapter
◆◆ How the contractor tracks down projects to bid on
◆◆ How the bidding process works
◆◆ How the constructor prepares for the
competition
◆◆ The different criteria used to
Before you can start managing any project, you must have a project to determine the winners
manage. To get a project to manage, the contractor must first find projects to bid and then win the opportunity to build them. Finding and getting work is a crucial factor in the success of a construction firm. Obtaining information about upcoming projects is a big part of the overall market- ing effort of the construction company.
Some companies can boast of a certain number of negotiated projects that are just handed to them because of reputation or prior dealings with a happy client. However, in the majority of cases, contractors must com- pete for their work and their livelihood. In the old days, this competitive process was pretty straightforward. But today it has become quite com- plex, and the strategies employed to win the project require abilities that were not needed before, such as negotiation, presentation, team-building, and communication skills.
The construction industry has always been a very competitive business, and today the competition has become even more aggressive. The stakes are higher, the margins are lower, and the skills that must be employed are at a different level. Today all aspects of your game must be operating at full capacity in order to win projects. Owners are much more sophisti- cated and make much greater demands. But the game is indeed a challeng- ing one, and the rewards can be significant.
◆◆ The various factors considered before competing
70 Chapter 3
Finding the Work
Like most industries, construction firms must battle for their share of the mar- ket. The bulk of a company’s workload will be secured through a rigorous price- bidding competition. But even before contractors decide to compete, they must first do some reconnaissance work and determine where the projects are, what they entail, and when they will be put out for bid.
The first step in the process is to determine who is preparing to build new projects and when they will be ready to start. It is imperative that the contrac- tor find and maintain a relatively constant stream of potential jobs in order to stay in business. For a construction company to be successful, it must engage in an intelligence-gathering effort—scoping out new work and keeping an ear to the ground, so to speak, regarding project design starts and capital improvement campaigns among investors and the corporate world. An uninformed contractor who does not find out about a project until it has already broken ground with equipment and materials being delivered has missed an opportunity to win that project. The bottom line is that there are more contractors competing for the work than there is work to compete for, and any missed opportunity is a mistake.
I do ...
Construction Industry is one of the most booming industries in the whole world. This industry is mainly an urban based one which is concerned with preparation as well as construction of real estate properties. The repairing of any existing building or making certain alterations in the same also comes under construction Industry.
Brief introduction to Professional Practice Course (BTCE-605 as per Punjab Technical University), also known as Building Costing and Estimation in some institutions.
Risk Assessment, Mitigation And Management In Epc Projects With Case Study By...HIMADRI BANERJI
Risk Assessment, Analysis, Mitigation and Management of EPC is therefore, of prime importance today especially with newer risks thrown open by the global economic meltdown related risks, risk related liabilities for performance are allocated to the EPC contractor, with instruments as Liquidated Damages, Extended Guarantees, Latent Defect Liabilities etc.
Construction Contracts: Basics of Contracts and Contract AdministrationGerald R. (Jerry) Genge
The CCDC 2 Stipulated Price Contract is the "go to" document for construction contracts. Learn the basic components and roles of eth parties to the contract.
Chapter 3How We Get the Work In This Chapter ◆◆ How the .docxketurahhazelhurst
Chapter 3
How We Get the Work
In This Chapter
◆◆ How the contractor tracks down projects to bid on
◆◆ How the bidding process works
◆◆ How the constructor prepares for the
competition
◆◆ The different criteria used to
Before you can start managing any project, you must have a project to determine the winners
manage. To get a project to manage, the contractor must first find projects to bid and then win the opportunity to build them. Finding and getting work is a crucial factor in the success of a construction firm. Obtaining information about upcoming projects is a big part of the overall market- ing effort of the construction company.
Some companies can boast of a certain number of negotiated projects that are just handed to them because of reputation or prior dealings with a happy client. However, in the majority of cases, contractors must com- pete for their work and their livelihood. In the old days, this competitive process was pretty straightforward. But today it has become quite com- plex, and the strategies employed to win the project require abilities that were not needed before, such as negotiation, presentation, team-building, and communication skills.
The construction industry has always been a very competitive business, and today the competition has become even more aggressive. The stakes are higher, the margins are lower, and the skills that must be employed are at a different level. Today all aspects of your game must be operating at full capacity in order to win projects. Owners are much more sophisti- cated and make much greater demands. But the game is indeed a challeng- ing one, and the rewards can be significant.
◆◆ The various factors considered before competing
70 Chapter 3
Finding the Work
Like most industries, construction firms must battle for their share of the mar- ket. The bulk of a company’s workload will be secured through a rigorous price- bidding competition. But even before contractors decide to compete, they must first do some reconnaissance work and determine where the projects are, what they entail, and when they will be put out for bid.
The first step in the process is to determine who is preparing to build new projects and when they will be ready to start. It is imperative that the contrac- tor find and maintain a relatively constant stream of potential jobs in order to stay in business. For a construction company to be successful, it must engage in an intelligence-gathering effort—scoping out new work and keeping an ear to the ground, so to speak, regarding project design starts and capital improvement campaigns among investors and the corporate world. An uninformed contractor who does not find out about a project until it has already broken ground with equipment and materials being delivered has missed an opportunity to win that project. The bottom line is that there are more contractors competing for the work than there is work to compete for, and any missed opportunity is a mistake.
I do ...
Construction Industry is one of the most booming industries in the whole world. This industry is mainly an urban based one which is concerned with preparation as well as construction of real estate properties. The repairing of any existing building or making certain alterations in the same also comes under construction Industry.
Motorola two way radio construction guideDavid Martin
Material costs are high. Profit margins are thin. Construction contractors are counting pennies. It’s a prime time for business radio two-way retailers to emphasize the cost benefits of Motorola business two-way radios.
Winning tenders / securing tenderers in a competitive construction market - N...Browne Jacobson LLP
This seminar looked at:
(1) how employers can make their tenders attractive in an increasingly competitive market, and
(2) from a supply chain's perspective, what employers are looking for from tenderers.
Tender and Bidding in Construction ProjectsIJERA Editor
Construction Industry plays a key role in the process of economic transformation and growth. Export of projects and services indicate a country's progress in technology and export performance. Most of the companies are versed only with engineering and technology. The decision to bid is a major financial decision because of two reasons. First, the contractor assumes substantial costs for the preparations of the estimates and the tender at the risk of not recovering them if he is not awarded the job. Second, andmost importantly, thecontractor commits himself to investment in the construction of the project if he wins the bid.
Procurement in Focus - the pros and cons of various project delivery modelsConstruction in Focus
Choosing the correct project delivery model is a vital aspect of ensuring an infrastructure project is successful. Using the right delivery model for a given project ensures contractual obligations are allocated appropriately, risks are managed and objectives delivered. This article outlines the key factors that inform which delivery model will work best for a given project, then details the ideal uses of different delivery models, along with each of their pros and cons.
Contractual Steps for Smooth Delivery of Infrastructure ProjectsAM Publications
Governments and public entities spend huge public money for purchase of goods, services and construction of works. Therefore, it is vital that procurement system shall not only be efficient but also be transparent, fair & just without compromising the quality of output. Various stakeholders have different interests in influencing the decision-making. This paper elaborates various possible alternative strategies available for procurement. Depending upon environment and various challenges, one can choose the best mode, method & process of procurement. The procurement could be for goods, work, services, consultancy etc. Consultancy contracts are different game altogether, because they have more emphasis on intellectual inputs rather than mere physical outcome. The scope of this paper is limited to works procurement.
Contracts and Tenders
When two or more persons have common intention communicated to each other to create same obligation between them there is said to be an agreement. An agreement which is enforceable by law is a Contract.
A Tenders is called upon for executing certain specified work, or supplying specified materials; subjected to certain terms and conditions like rates, time limit, etc. It is an offer in written form: Legally speaking, it is an offer to receive an offer for the work, within the specified financial limits.
Check for more presentations at - www.archistudent.net
Many countries have seen the importance of financial education by making financial
education a national strategy. In Vietnam, although the National Strategies for Inclusive Financial
Education has been proposed since 2017 and officially included in the National Financial Inclusion
Strategy in 2020, however, financial education is still quite new, and many people are not aware of
the necessity of financial l
Today, in the rapidly emerging globalization process, increasing the competitiveness of enterprises
depends on increasing of their firm performance. Although there are many methods and techniques affecting
firm performance, Information technology (IT) capabilities has become one of the most widely used method,
especially in dealing with supply chain matters of a firm. The aim of our study is to express whether innovation
and organization learning is effective as intermediate variable to the effects of IT capabilities at firm’s
performance. The opinion which claim
Globally, the number of startup companies has rapidly expanded during the last 5-8 years. Offering
products and/or services that greatly enhance the lives of its clients is a major focus for these firms. In India,
local and federal government initiatives have provided new enterprises and entrepreneurs with much
momentum and assistance, helping India become the world's top startup location. The Government of India
(GOI) launched the "Startup India" campaign in 2015 to promote entrepreneurship and support businesses to
achieve this goal (Babu, S., Sridevi, K.,2019). An IBM Center for Business Value and Oxford Economics study
in 2018 found that 90% of Indian companies fail within the first five years of operation. Potential difficulties
that startups may run across, both generally and specifically in the Indian market, have been described by
several authors.
Behaviour finance is the study of how psychological phenomena affect financial behaviour. This
financial science is used in making financial decisions. Amid the development of the digital economy, paylater
innovation has emerged. It is feared that the ease of use of paylater can have a negative impact, one of which is
the attitude of impulsive buying. This research will analyze the effect of financial literacy, self-control, risk
perception, and percieved ease of use on impulsive buying behaviour. This research is based on Decision Affect
Theory, which is a theory that discusses financial decision behaviour that is influenced by self-emotion. This
research is uses purposive sampling wi
Improving the business environment is one of the key strategies to promote local and regional
economic development. However, which factors affect the business environment of the provinces is still
controversial. Using survey data from 400 investors and managers and a multivariate regression analysis
method, this study has identified the factors affecting the business environment of Hai Phong province. The
analysis results show that there are 09 factors affecting the business environment of Hai Phong City, including
entry costs, land access and tenure, transparent, informal charges, time cost, pro-activeness, business support
services, labor training and legal institutions. In
The effect of work attitude and innovation ability on employee innovation performance is of great
significance for improving the innovation ability of manufacturing enterprises and building an "Innovative
Country" in China.This article theoretical analysis was conducted on the mechanism by which the work attitude
of employees in manufacturing enterprises affects innovation performance and the mediating mechanism of
innovation ability. Based on data from Chinese manufacturing enterprises, empirical analysis was conducted
using SEM models. Resear
The concept of organizational resilience continues to grow in focus and importance, but there
has yet to be an agreed upon measure of organizational resilience. Organizational resilience can be seen as a
corporation’s ability to adapt to change and maintain flexibility within their supply chain. Resilience and
flexibility at all organizational levels is necessary, in a proactive manner, to turn resilience into a competitive
advantage
In this paper, by using the basic method of differential geometry, combined with the optimization
theory and the basic technique of data analysis, the definition, basic properties and statistical characteristics of
nonlinear correlation coefficients on manifolds are studied and given, test the rationality and validity of the
nonlinear correlation coefficient defined in this paper. Therefore, the study of this paper has certain theoretical
value and potential practical significance.
This study aims to analyze and prove whether there is a positive and significant influence
between product quality and poki prices on purchasing decisions for Kobba brand coffee. The survey was
conducted using 53 respondents who were buyers who had purchased Kobba brand coffee more than once.
Information from respondents was obtained through a list of questions that were sent and returned by
respondents
In this paper, we introduce a universal framework for mean-distortion robust risk measurement and
portfolio optimization. We take accounts for the uncertainty based on Gelbrich distance and another uncertainty
set proposed by Delage & Ye. We also establish the model under the constraints of probabilistic safety
criteria and compare the different frontiers and the investment ratio to each asset. The empirical analysis in the
final part explores the impact of different parameters on the model results.
Despite the attainment of the famous Millennium Development Goals (MDGs) of reducing the number
of poor people across the globe a significant number still live below the poverty line. The problem of poverty is
more endemic in developing countries like Nigeria. Several intervention efforts have been in place to address
the poverty question which persists partly due to serious financial exclusion and unethical activities of informal
finance providers.
The focus of this research was to establish the effect of entrepreneurship Ecosystem in inculcating
entrepreneurial propensity for community development. Promotion of entrepreneurship in Kenya has existed
ever since independence. The Government has shown tremendous support to entrepreneurship growth. The
Government have channelled financial support through funding such as Women Enterprise fund, Youth
Enterprise Fund and Uwezo Fund
In this paper, we consider an AAI with two types of insurance business with p-thinning dependent
claims risk, diversify claims risk by purchasing proportional reinsurance, and invest in a stock with Heston
model price process, a risk-free bond, and a credit bond in the financial market with the objective of maximizing
the expectation of the terminal wealth index effect, and construct the wealth process of AAI as well as the the
model of robust optimal reinsurance-investment problem is obtained, using dynamic programming, the HJB
equation to obtain the pre-default and post-default reinsurance-investment strategies and the display expression
of the value function, respectively, and the sensitivity of the model parameters is analyzed through numerical
experiments to obtain a realistic economic interpretation. The model as well as the results in this paper are a
generalization and extension of the results of existing studies.
:Textiles and clothing are a fundamental part of everyday life and an important sector in the global
economy. It is hard to imagine a world without textiles. Clothes are worn by almost everyone, almost all the time
and it also becomes an important expression for an individuality. In 2015, emission from textiles production
totaled 1.2 billion tons of CO2 equivalent throughout its lifecycle. The fashion industry is a large consumer of
water, high volumes of water containing
In this paper, we construct a Credit Default Swap pricing model for default recovery rates under
distributional uncertainty based on a structured pricing model and distributional uncertainty theory. The model
is algorithmically transformed into a solvable semi-definite programming problem using the Lagrangian dual
method, and the solution of the model is given using the projection interior point method. Finally, an empirical
analysis is conducted, and the results show that the model constructed in this paper is reasonable and efficient
The closures of schools, colleges, and universities in many countries worldwide during the COVID19 pandemic have reshaped every aspect of our normal lives and educational experience. As a result of
extended periods of lockdown, whole populations have been advised to stay in their households and
communicate with others through distance electronic communications methods such as Zoom, Teams, Google
meetings etc. More than 1
Even though economists and academics have been studying money laundering for many years, there
are still gaps in the research because there is a dearth of trustworthy data on the activity as well as an absence
of specific sources and methods of collection in government-based reporting. The Walker-Unger gravity model
was used in this study to determine the countries that Russian-based money launderers used as funding
destinations between the years 2000 and 2020, as well as whether there are any variations in country rankings
during economic downturns. The investigation's findings indicated that even during recessionary times, money
launderers with Russian bases consistently preferred certain countries as their destination
This study will establish a scientific foundation for analyzing and assessing the development of
human resources in industrial parks of Hai Duong province. According to statistics and primary data, the
study analyzes the current situation of human resource development in the industrial parks in Hai Duong
province, states achievements, limitations and their causes, thereby giving solutions to improve the human
resource development in industrial parks of Hai Duong province in the future for the economic development
of industrial parks in particular and Hai Duong province in general.
Solar photovoltaic systems are becoming essential in renewable energy sources to help reduce
dependence on renewable energy sources, fossil fuels and mitigate climate change. In the world today, many
successful businesses bring efficiency to the environment as well as the global economy. However, to evaluate
the business performance of the global supply chain, it is necessary to find an appropriate method. This article
uses data envelopment analysis (DEA) and Malmquist Productivity Index (MPI) methods to compare
performance across businesses
The objective of this research is 1) to study social media usage behavior of the elderly and 2) to
examine the relationship between factors of the social media usage behavior of the elderly in Surat Thani
Province, Thailand. The data were collected from selected elderly aged 60 years and older in Surat Thani
Province. The number of the sample in this study was 400. The questionnaire was used as a tool to collect the
data. Statistics used were frequency, percentage, mean, standard deviation, and Chi-Square
More from International Journal of Business Marketing and Management (IJBMM) (20)
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Ideal Contract for Multi Storey Building Construction
1. International Journal of Business Marketing and Management (IJBMM)
Volume 3 Issue 2 February 2018, P.P.52-57
ISSN: 2456-4559
www.ijbmm.com
International Journal of Business Marketing and Management (IJBMM) Page 52
Ideal Contract for Multi Storey Building Construction
S Radhakrishnan, Dr K G Selvan
PhD Research Scholar, PRIST University, Thanjavur
Associate Dean, PRIST School of Business, PRIST University, Thanjavur
Abstract: The Construction Industry, which is the major source of employment opportunities to people of all
walks of life, next only to agriculture, is now fully poised for full swing growth, after the jerk of demonetisation.
The Builders too, who were initially showing resentment to RERA, are now fully satisfied with it, as it is only
conditioning them for transparency in their activities.
The Government’s initiative of” House For All” gives a great impetus to construction industry.
The increased income levels of people, reasonable job opportunities in urban areas and the galloping apartment
costs make people to own an apartment for dwelling. House rent in the city is turning prohibitive and working
class now prefers to own an apartment instead of paying rent. The differential cost (between Rent and EMI) also
works out reasonably inducing them to buy the apartments.
Construction activities are seen in full measure, particularly in cities and outskirts of same.
Multi Storey Buildings are the common sights in the City, nowadays.
Owning a house is not possible to all whereas an apartment.
All the above contribute to the fillip in construction activities which are started with a renewed vigour now.
Key Words: Turn Key Contract, Labour Contract, Quality Standards, Timely Completion
I. Introduction
Any structure with three floors and above is called a Multi Storey Building. This is commonly the
perception in the field. Going by this, almost, all the buildings under construction in the City and the outskirts
can be called Multi Storey Building.
The increased need for dwelling place is the main cause for this. Large scale movement of people from rural
areas to urban areas for employment purposes, the widespread employment opportunities in the city, higher
disposable income to people due to good wages/salary being received by them are some of the important reasons
for this.
II. Methodology
Personal visit to the sites. Observation and Discussion.
Contours Details
No. of sites visited 2
No. of floors in each 4 & 6
Statutory/RERA compliance 100%
Personnel strength 75 – 100 nos.
Female employees 10% approximately
Migrated workers A group of 20 persons (approx.) in the second site.
Facilities offered
Covered Car Park, Round the clock security,
Uninterrupted power supply, GYM.
Community Hall (in the second site)
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International Journal of Business Marketing and Management (IJBMM) Page 53
Main Observation
Unlike before, female employees do not prefer to come for the construction jobs now. The main reason for this
is they easily get jobs in companies and small firms in the house keeping areas. The job is comfortable and the
fringe benefits they get are also good there.
Migrated workers find good employment opportunities in construction sector.
Classification of Construction Contracts
The Construction Contracts can be simply classified into two. Turn Key Contract and Labour/Material Contract.
Turn Key Contract
In the Turn Key Contract, the Contractor, with whom the Agreement is entered into by the Owner, will take care
of everything in the construction.
The whole construction activities right from getting plan approval to completion of the project will be his
responsibility
He is fully endowed with Consultant, Structural Engineer, people of various skills (Mason, Carpenter, Plumber,
Electrician and a host of others).
The Owner has to just pump in the money as and when demanded by the Contractor for completion of the
project as promised by him.
Whom is this ideal for?
The Turn Key Project is ideal for Land Owners who possess money but lack all other things. They are happy
with possession of land at their hands. Capital is also not a problem. The thing is that they do not want to brave
the risk of construction themselves – may be due to inexperience or other reasons.
For such people, the best option is Turn Key Project. They should scout around in the market and make the best
choice of the Project Contractor.
There is good number of Turn Key Project Contractors with whom the responsibility can be entrusted with. In
the field, actually, many projects come to a halt midway due to paucity of funds. More the days it is halted, more
will be the complication in completion. Even big builders are no exception to this.
Turn Key Project is most suited for people with capital at their hand but unwilling to get involved in the
physical construction, facing all the difficulties themselves.
The Contractor is Responsible for Everything
The main advantage in this is the Contractor is totally responsible for the project. The entire work is his - from
submitting documents for approval, obtaining RERA clearance, organising men and materials for speedy
construction.
The Client or Owner is free from all the bother of construction. His only concern is to make available the money
to the contractor as and when demanded by him. In fact, while entering into Agreement itself, the requirement of
money in various stages is clearly spelt out in the Contract Agreement so that the Owner/Client is able to get
himself geared up for capital availability for hassle free construction.
Thus, the Owner could be cool throughout the project.
This is ideal for people who are comfortable in capital but are new to construction area.
Main Disadvantages
As the contractor is handling everything till completion of the project, the owner is simply a money lender to the
contractor with no access to any data or quality of materials/productivity of labour.
There are always chances in this Turn Key Contracts that the Contractor would charge exorbitant rates to the
Client whereas what he would be paying to suppliers would be much less. The client has no say in the matter.
All the benefits of bulk purchase and supply chain management would accrue to only the contractor. He, over
and above the fixed percentage of profit, gets additional sums of money also by way of effective subcontracting
etc.,
The client may be free from the bother of construction whereas all the benefits will only go to the contractor.
Important Aspects to be looked into in Turn Key Project Agreement
The client should not exhibit his undue anxiety to the contractor. This is more like making an abject surrender.
The impression of the Contractor about the Owner will get diminished. Besides, the Client is expected to have
basic knowledge about construction. He should catch up with the demands and expectations of the Contractor.
This is very essential for smooth execution of the contract.
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International Journal of Business Marketing and Management (IJBMM) Page 54
The Contractor should have excellent track record. This is quite vital from the point of view of the Client. An
experienced contractor is an asset to the owner. He would not fritter away money or dissipate time, as both are
disastrous to the owner.
While the responsibility rests with the Contractor, it does not prevent the Owner from knowing the sources of
his procurement. The client has every right to demand that the materials and other things required for
construction are bought only from reputed sources and should conform to the excellent quality standards.
New Contractors, in their anxiety to clinch the deal, may quote very attractive (cheap) rates, but the Client
should not fall a prey to them. Even if they are sound enough otherwise, their lack of experience in construction
is only a minus point.
In this regard, it is always preferable to go in for an experienced person in the field, giving due considerations to
the rates.
However experienced the contractor is, the Client should have, in his own interest, periodic meetings with the
contractor to get to know of the progress in construction.
Capital inflow to the project should not be a concern either to the contractor or to the client. The client should be
sufficiently backed up for pumping money without break. If the construction is halted due to whatever be the
reason, it will have a telling effect in the quality of the work.
A project, halted for some time for some reasons and started subsequently will definitely have varying quality
standards in the execution. This is inevitable. Hence, sufficient care should be taken to ensure continuous and
smooth progress of the activities.
Both the Client and also the Contractor should have equal responsibility in this.
The Client should satisfy himself with the soundness of construction of the contractor by physically seeing the
other construction completed by the Contractor.
More importantly, the following three things are to be seen and if possible, verified, in the own interest of the
Client.
Cost of Construction
Quality of Construction
Timely completion of the projects
Costs: Many contractors will have a clause that owing to circumstances beyond their hands, if situations
warrant, there may be hike in rates.
Some contractors will abide by the clause that throughout the construction, their rates will be maintained fixed.
Possibly, the rates indicated will be quite exorbitant.
Quality: Quality will be the main aspect of the agreement. Some Contractors will clearly specify the brands of
materials that will be used in the construction. Some other contractors will cleverly say that in the unlikely event
of unavailability of the specified materials, equivalents will be used. The Client has every right to know the
equivalents that would be used in the construction.
The Site Engineer of the second site made an off the record remark that as human bodies are prone to allergy, in
construction sites too, in the event of different/equivalent materials used, the effects of same will definitely be
there, but in the long run.
While technically, it can be argued that different brands of same grade and composition materials can be used as
a perfect substitute, the compatibility issue will definitely be there, in varying qualities, in the long run.
Hence, the Client has every right to demand that only a particular brand should be used till completion of the
projects. No compromise should be made in this regard.
Timely Completion: Timely completion of the projects is always an issue, even with major builders. The
peculiarity of construction industry is that the major things which are perceived to be threats will turn out to be
negligible and whereas the small things which are normally ignored as nothing will turn out to be a stumbling
block.
The Client has every right to know the delivery history of the contractor, of the various projects completed by
him. If he has a good track record, it shows his commitment in business. On the other hand, if he is found to be
lagging behind in completion dates, it only warns about the poor capacity of the Contractor. Such Contractors
should not be used at all.
Since the Builder is answerable to his prospective buyers who have made booking, he should be extremely
careful in this regard.
The client should enter into Agreement with the Contractor only after he is fully satisfied about the contractor
on his capacity to complete the project as per the Builder’s requirements.
There should never be any place for misunderstanding or mistrust between the client and the contractor. If
anything creeps up, such things are to be ironed out then and there. Proceeding with misunderstanding will only
hamper the construction.
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International Journal of Business Marketing and Management (IJBMM) Page 55
As such, the credentials of the contractor are to be thoroughly and satisfactorily verified and the client should be
fully convinced of same. This is quite essential before entering into any formal agreement.
While the Client is expected to be fully aware of the Contractor and his capabilities before formally joining
hands with him, he should also be keeping the fact in mind that the association must go quietly and comfortably
till the project completion. In fact, it must also go beyond that in the sense that the Client should be satisfied
enough to retain the same contractor for his future endeavours as well.
Careful selection of the Contractor is the first and foremost one in the Turnkey Contract. A reliable and
understandable contractor is a great asset to the Builder.
The Builder or the Client, must be having all the required qualities of a Negotiator in identifying, selecting and
formally entering into Agreement with the successful contractor. More than the Contractors, who are sought
after by many in the field today, the Client must be earnest enough in selecting the right Contractor.
For practical purposes, the Client only should be more amicable with the Contractor for the work to go through
hassle free till completion of the project.
It is worth noting the following.
“The best Negotiators do not aim to maim, destroy or belittle the other side because they realise that the
relationship between themselves and the other persons will usually be a long term one. …. They do not
emphasise the aspects that divide them – instead, they focus on the common aspects that bring them together.
Their lynchpin is co-operation, not competition”.
Source: Pages 6 – 7. Book Name: Making Negotiations Happen – a simple and effective guide to
successful negotiating. Author: Laurie Dicker, Business + Publishing, Unit 715, Vinko Place,
Warriewood, NSW 2102, Australia. Copyright Business and Professional Publishing. First South Asian
edition 2006, reprinted 2008. ISBN: 1 875889 50 7. Printed and bound at Chennai Micro Print (P) Ltd,
Export Division, 100% EOU, 130, Nelson Manickam Road, Aminjikarai, Chennai 600 029, India.)
[ 1 ]
Owner Controlled Labour Contract/Material Contract
While the Turn Key Project is preferred only by the “First Comers” in the field (due to their apprehensions in
the field of construction, lack of experience, fear of facing problems and their inability to maintain business
contacts with material suppliers, contractors, government officials and others), the established and experienced
builders always prefer to have the control with themselves but would like to have the least of the bother in
construction.
By virtue of their experience and also financial soundness, they always concentrate only on bother free
construction and would like to refrain from spending time and energy on routines and bother areas.
They enjoy enormous advantages and comforts in this.
Decision of construction fully rests with them.
Planning, Designing and Execution are totally under their control.
They enter into Labour Contract with reputed agencies. They get skilled labour personnel as per their
requirement. They need to only honour the contractual obligations. They are absolutely free from the
bother of retaining people in their permanent payroll.
As the whole responsibility is with the Contractor only, the Builders, by paying the money to the
Agency, get people of different skills as per the requirements of various stages in construction.
They are able to devote their time in the site and progress with the execution as per the plan.
They ensure that the site is maintained in perfect condition for bother free working of people by
complying with legal and safety aspects. If, in spite of this, any untoward incidents take place, the
Labour Contractor is to only handle the same with workers. This is such a cumbersome and long drawn
out process.
This is the reason that majority of big builders have only very minimum staff strength in their
permanent payroll and the rest of the personnel are hired through Agencies. The Builders are actually
free from the bother of HR issues.
Supply Chain Management
In the Owner Controlled Contracts, the Builder directly gets into Material Contract with the Suppliers.
All the major builders have Rate Contract with the Suppliers by freezing the rates for the financial year.
Since their off take is assured and in volumes, suppliers are also happy in freezing the contract. From their
point of view, they are assured of off takes at the agreed prices.
Better planning is possible for both the Builder and also the Supplier. It is a “Win Win Situation” to both.
5. Ideal Contract for Multi Storey Building Construction
International Journal of Business Marketing and Management (IJBMM) Page 56
What are the benefits of Supply Chain Management?
The prices of construction materials are always on the increase. With the growing demand, it attracts many
suppliers to enter this business. With more suppliers offering more of comparable brands, the builders are
enjoying the advantage of making the best selection of materials at the fair price.
Since the price advantage should not be a one time affair and should be there throughout the year, all large
builders are specific in having material contract and also with more than one source.
If the supply becomes erratic or the supplier is unable to deliver enhanced order quantities, the situation will
not suffer as the other supplier is always ready to take up the extra requirement.
The large builders rate the suppliers on the basis of their capacity, quality and timely delivery. Under any
circumstances, the Builder is not affected. And this is the reason they would like to have more than one
supplier in their base.
Framing the Contract Agreement
The success of the project completion is determined greatly by the clauses and sub clauses of the
Agreement. A wise builder is always alert in thorough understanding of what is expressly meant in the
agreement and what is to be tacitly understood in the same.
In fact, everything should be specified in unambiguous terms. The framing of Agreement is done by
Specialists who are well versed with all legal aspects of same. It should also be borne in mind that the
Client also is backed up by his legal experts in the interpretation of the agreement.
There are incidents where litigation took place in understanding and executing some of the clauses.
Construction would have been over but formal handing over to the Client would come to a deadlock. The
Builder cannot do anything, unless and otherwise the litigation is fully resolved. The contractor and also the
builder, both would be in trouble.
Hence, utmost care should be taken, especially by the Client in understanding what is explicit and agreeing
to what is implicit.
It is relevant to note “The complete Negotiator is the complete Communicator. A Negotiator has to be
aware not only of what is being said but also of what is unsaid’.
(Source: Pages 91 – 92. Book Name: Conflict Management. Author: Baden Eunson, first published in
2007 by John Wiley & Sons, Australia Ltd, 42, McDougall Street, Milton Qld 4064, Copy right
Baden Eunson 2007. ISBN: 97807 314 06517) [ 2 ]
Contract is a Shield but Precautions should be in the Field
Construction sites are always associated with risks. Utmost care should be taken in ensuring all safety
precautions at the site. While the labour contractor is responsible for supply of labour to the site, it is the
responsibility of the builder to ensure that the site is totally compliant with safety aspects for construction.
In the event of any major injuries or occurrence of an untoward incident, the problems arise in interpretation
and explanation of the clauses of agreement and who should bear the brunt of the accident.
Risk Management is always a bone of contention between the Builder and the Contractor, when an
unpleasant thing occurs. Both are only trying to wriggle out of the issue. Even major builders are no
exception to this.
It is always advisable that the risk management issue is thoroughly discussed and expressed in the contract.
Some builders refuse to accept many clauses in this and the same way, many contractors stoutly refute the
charges, blaming only the builder.
Neither should show hurry in disowning the charges or shifting the blame on the other. While each and
everything cannot be brought under the clauses of agreement, (which is not possible either), the builder and
also the contractor must be reasonable in this regard.
This will work out in practice only when they mutually believe and respect each other. Risk Management
issue is very vital in construction sites.
In this regard, it is worthwhile noting that “if you jump into the Risk Management conversation as if you
are certain about everything and know what must be done, you are likely to do more damage than good. An
effective risk management conversation is an exploration about what might go wrong and what you could
do by working together, to prevent it or to mitigate its impact”
(Source: Pages 92 – 95. Name of the Book: The Point of the Deal. Authors: Danny Ertel and Mark
Gordon. Published by: Harvard Business School Press, Boston, Massachusetts. Copy right 2007
Vantage Partners, LLC. ISBN: 13: 978 – 1 – 4221 – 0233 – 6 and ISBN: 10: 1 – 4221 – 0233 – 5)
[ 3 ]
6. Ideal Contract for Multi Storey Building Construction
International Journal of Business Marketing and Management (IJBMM) Page 57
III. Conclusion
The second site had all the safety aspects fully adhered to.
The observation revealed that the workers had their own careless behaviour until they are reprimanded by the
Site Engineer/In Charge.
Hard Hat, though provided to all personnel, was worn only by a few and majority of helmets were simply piled
up (in the first site.). In fact, for that matter, even the Site In Charge was wearing only occasionally.
Discipline is a must in construction sites and it must be ensured.
IV. Recommendation
For the people who venture in to construction business, for the first time, it is advisable to go through Turn Key
Projects.
For established builders, goes without saying, Labour Contract and Materials Contract are ideal. The Supply
Chain Management has its own benefits and vigorously following that will contribute to tremendous cost
savings to the builder.
Before entering into Contracts, always look carefully in to the past history of the contractors. They must have
excellent track record. They should not have got into any litigation with the builders. Normally, when a
Contractor, however big and reputed he is, got into any court issues, his name is tarnished in the field. Hence,
extreme care should be shown in choosing the contractors.
Construction, once started, should not be halted under any circumstances. If any break is given due to capital,
materials or labour, then it will only add to concomitant delays and will disrupt further activities and will
ultimately bring a standstill. As such, this is to be avoided, at any cost.
The construction industry is in the revival now with bright opportunities for the future. A wise builder is sure to
flourish.