Exam answer Essay Example | Topics and Well Written Essays - 2250 words

Exam answer - Essay ExampleSuccessful saying procurement should result in timely project delivery, proper budgeting and quality in order to attain the craved functions. The act of creating a new structure requires objective survey on site, interaction with purport team and other consultants, suppliers as well as other stakeholders. An immediate choice in verge of the cost and quality should be agreed upon.The procurement of a construction work is often the put forward of joint funding with different stakeholders who have varying interests and goals in the outcome of the projects. The following elements argon the surpass drivers in terms of construction managementGlobal Bank Corporation are the owners of this project whose pattern is to take account of the demise of many European banks during the credit crunch. The success of this project will reach owners interest and at the same time meet the needs of their customers (Schwalbe 2009, p. 45). It is very of import to first po int at the factors that will determine the most suitable procurement strategy out front commencing the projects. These factorsIn any construction procurement, the objectives and constraints of each building project are interdependent and therefore require concurrent considerations. A competent and industrious team will be necessary to meet these aspects.Risks are events known or unknown that adversely affect the outcome of the project. The nature of the risk is determined by the objective and constraints of the project. For instance, this project is budgeted at 120m and any activity that may cost more than the amount intercommunicate will be a risk. Consequently, it will affect rest processes and the entire project. Similarly, this project has a meanspirited timeframe for utmost. Any delay to the construction program will be a risk on the completion of the project. The responsibility of managing a given risk will be allocated to the party that has the capacity to deal with that risk. direct of project complexity