... of a project from the standpoint of a
decision maker. A profit measure may or may not be used as the basis forproject selection. Since
various profit measures are used by decision makers for ... available.
Implications for Design and Construction
Different perspectives and financial considerations also may have implications for design and
construction choices. For example, an important ... Different Forms of Ownership
178
t for a investment project x where x = 1, 2, refer to projects No. 1, No. 2, etc., respectively. Let C
t,x
be the annual cost at the end of year t for the same...
... ProjectManagement 7
2.3 Understanding Project & Management 9
2.4 Definition of ProjectManagement 10
2.5 History of projectmanagement 12
2.6 Construction as a vital sector 15
2.7 Project ... Page
Chapter Six: ProjectManagement Framework
79
6.1 Introduction 79
6.2 ProjectManagement Framework 80
6.3 Elements of project success 80
6.4 Key elements of constructionprojectmanagement 83 ... 7 ProjectManagement Functions:
Project management has developed a great deal in the last decades,
but the main functions of the project and its life cycle are still the basics of
project management. ...
... firms that
perform construction work for others, and is estimated to be approximately 85% of all construction
1
Project ManagementforConstruction
Fundamental Concepts for Owners, Engineers, ... on project management.
Chapters 1 to 3 present an overview of the constructionmanagement and design process which should
be of interest to anyone engaged in projectmanagementfor construction. ... costs in most construction projects. Since the costs of construction are ultimately
borne by the owner, careful financial planning for the facility must be made prior to construction.
Construction...
... temporarily assigned to a project. The following principles should be observed:
27
2. Organizing forProjectManagement
2.1 What is Project Management?
The management of construction projects requires ... between the two so that modern management techniques developed for general
management may be adapted forproject management.
The basic ingredients for a projectmanagement framework [2] may be ... and inspection for conforming design
requirements.
•
Perform other project related services as required by owners.
Professional constructionmanagement is usually used when a project is very...
... Pre -Project Planning
Even before design and construction processes begin, there is a stage of "pre -project planning" that can
be critical forproject success. In this process, the project ... needs.
Example 3-14: The Project Definition Rating Index (PDRI) for Building Projects The
Construction Industry Institute has developed rating indexes for different types of projects to assess
52 ... design phase of the project life
cycle. That is why professional constructionmanagement or integrated design /construction are often
preferred by private owners.
3.10 Construction Planning...
... materials for a project may change if more prefabricated
units are introduced in the construction process.
In the construction industry, materials used by a specific craft are generally handled by ... of freight delivery for very large projects.
Example 4-5: Freight delivery for the Alaska Pipeline Project [7]
94
Figure 4-2: Freight Delivery for the Alaska Pipeline Project
Example 4-6: ... specific jurisdiction rules for different trades set uniform hourly wage rates for journeymen and
offer formal apprenticeship training to provide common and equivalent skill for each trade.
Contractors,...
... prices for different items of work submitted for this projectby (1) Ball, Ball & Brosame, Inc.
and (2) National Projects, Inc. are shown in Table 5-2. The similarity of their unit prices for ... or may not exist. For
example, in construction projects, the accounts for basic costs may be classified according to (1) labor,
(2) material, (3) construction equipment, (4) construction supervision, ... 5.3 to 5.6)
3. Adjust for inflation index
4. Adjust for local index of construction costs
5. Adjust for different regulatory constraints
6. Adjust for local factors for the new facility
Some...
...
borrowing paid by eventual payments from the owner.
Back to top
7.11 References
1. Au, T., and C. Hendrickson, "Profit Measures forConstruction Projects," ASCE Journal of
Construction ... 900,000
600,000
1,000,000
100,000
Back to top
7.9 Construction Financing for Contractors
For a general contractor or subcontractor, the cash flow profile of expenses and incomes for a
construction project typically follows ... the other hand, the options for borrowing by contractors to bridge their expenditures and receipts
during construction are relatively limited. For small or medium size projects, overdrafts from...
... Small Project, " ASCE Journal of
Construction Engineering and Management, Vol. 110, No. CO3, 1984, PP. 337-345.
8. Latimer, Dewitt and Chris Hendrickson, “Digital Archival of ConstructionProject ... bulk of information associated with construction projects, formal organization of the
information is essential so as to avoid chaos. Virtually all major firms in the arena of project
management ... the scope and alternatives for organizing project information.
Back to top
14.2 Accuracy and Use of Information
Numerous sources of error are expected forproject information. While numerical...
... budget of the project. The total
project budget contains the operating project budget or baseline, contingency
reserve, and the management reserve. The project budget baseline is increased
by the amount ... 326 Preparing for the ProjectManagement Professional Certification Exam
The first work of the project is done on May 1, and the last work of the project
is finished on May 20.
7. ... significantly influ-
ence the duration of most activities and the project itself.
9618$$ CH21 09-06-02 15:01:00 PS
330 Preparing for the ProjectManagement Professional Certification Exam
Resource capabilities....
... strategies that minimise exchange rate
28 Cardon and Coche
RISK MANAGEMENTFOR CENTRAL BANK
FOREIGN RESERVES
RISK MANAGEMENTFOR CENTRAL BANK FOREIGN RESERVESEUROPEAN CENTRAL BANK
EDITORS:
CARLOS BERNADELL,
PIERRE ... Guidelines for Foreign Exchange Reserve Management: Accompanying
Document, International Monetary Fund, Washington.
Fama, E. F. and R. R. Bliss (1987), “The Information in Long-maturity Forward ... the typical approaches used for
foreign exchange reserves risk management. We then present our general approach to asset/
liability management (ALM), including reserves management, using a dynamic...