Methods Of Procurement Of Housing Project

Estimate the project’s operating cash flows for each year of the project’s economic life. (Hint: Use Table 2 as a guide)

PROJ 592 All Discussions Week 1 - 7 Purchase here http://devrycourse.com/proj-592-all-discussions-week-1-7 Product Description PROJ 592 Week 1 DQ 1 WBS Construction PROJ 592 Week 1 DQ 2 Project Cost Estimates and Assumptions PROJ 592 Week 2 DQ 1 Cost Components PROJ 592 Week 2 DQ 2 Estimating Processes PROJ 592 Week 3 DQ 1 Project Schedules PROJ 592 Week 3 DQ 2 Sensitivity Analysis PROJ 592

On February 1, 2010, Marsh Contractors agreed to construct a building at a contract price of $6,000,000. Marsh estimated total construction costs would be $4,000,000 and the project would be finished in 2012. Information relating to the costs and billings for this contract is as follows:

1.1 This report will provide guidance for the procedure of preparing an estimate for building works. It will include the factors that affect the overall cost of the project explaining them in general as well as explaining them on the example provided.

The earned value analysis has led to see the project will control the actual budget, which is $18,000. The actual cost at the period 4 totaled to be $7,050, and total of earned value at period 4 is $7,750. The estimate at completion for typical is $22,550. These variances show that this project will exceed the original budget of $18,000, so we are still exceeding the project’s original budgets. The SPI is less than a value of 1, which means that the project will also over schedule and activity plans. The requests immediate actions from the third-party company.

Jones, A., Troy, C., Bailey, M. & Jones, R (2010). Group Project for Jones Family Shed. Retrieved from http://jimakers.com/SIU_IT450/weekly_notes/Example%20Group%20Project%20-%20SIU%20IT-450.pdf

2. In selecting an accounting method for a newly-contracted long-term construction project, the principal factor to be considered should be what? Page 933

Through tendering it should be conducted systematically and involve a score matrix with standardised to bid/or not bid questions that will assist in determining whether to advances whilst removing personal opinion from the equation. It is vital that the mandatory requirements are reviewed for the bid some of which may include contractors

* The final significant risk my firm identified is the possibility of not meeting the established budget ceiling of $320,000. There are many variables which we feel could cause the cost of build to exceed the budget. Some of those variables include having to pay a premium for in-demand subcontractors, the cost of buying and

The use of external consultants, though being a reasonable tool to aid in ensuring community needs were being met, was found to be over-exhausted, and meant that the allocated budget for the project was insufficient in order to actually construct and repair the proposed houses. Contributing to this increase in costs was that the community response detailed that the proposed housing was inadequate. This feedback was accepted and therefore included in SIHIP, resulting in the cost increase from $450,000 per house to

While applying the found research, I used my mathematical abilities to ensure the data presented regarding costs verses depth of materials were accurately given. I also did a cost analysis based upon the data provided regarding durability and maintenance to compare the options in relation to your yearly

Using the inputs above combined with specialised tools and techniques, the CITIC Consortium came up with an outputted estimated cost to submit for the tender. These tools are as follows. High quality personnel were trained for estimates and the company (CITIC Consortium) had a finance department used for estimating projects (Chinyere,2013). This team was used throughout the whole project and because of their background in estimating, this meant that they had expert judgement on what activities could be done and for what price. Other techniques the team used include computer software which could generate estimates on prices using historical information and previous projects that the team had done (Chinyere, 2013). In regards to project cost management theory, analogous estimating and parametric estimating are seen to be better so using these might have given the company a better estimate on the Birds Nest Stadium project (Hueber, 2015).

To identify which element(s) they perceived as being more expensive in building to these standards

A design and build project allows the low risk factor as for the client has the contractor takes on the risk by offering a fixed cost contract. The web address designbuild-network.com states the original provision for a building cost was around £352m, with total project costs of £757m. A

Measurements in the building are displayed on the surface in detail plan (Figure 4). Front elevation, edge elevation and plan are included in to this. All the measurements of the building had taken in this stage, thus the cost estimate has to be produced in time to time by the quantity surveyor. Every part and components of the building fully designed and cost checked.