Explain the “firm but fair” policy.

Q: What is technology-forcing legislation?

A: Technology-forcing:

Q: 3. In your own words, differentiate Civil Obligation and Natural Obligation ang give examples.…

A: Civil obligation is a juridical tie, legal tie or vinculum which gives the contracted party the…

Q: Is risk management important in the management of construction or IT projects?

A: Yes, Risk management is very much important in the management of construction or IT projects. both…

Q: What are the three important Negotiation principles?

A: Generally, meaning of negotiation is to get what you want from others. Suppose in a business firm,…

Q: What are the legal barriers for State and local public Projects?

A: The public projects are the one which is funded by the government authorities for the public welfare…

Q: What is the competitive bidding process?

A: The competitive bidding process as follows: Request for proposal: The organization seeking…

Q: What does the negotiation involve?

A: A Negotiation could be a strategic discussion that resolves a difficulty during a method that each…

Q: Why do many organizations still use the classical management principle?

A: Classical management theory is a type of management which uses hierarchy, specialized role and…

Q: Is the contract time always the same?

A: The contract is a legal agreement which is signed between two or more parties. The limitation period…

Q: How should the risks be allocated?

A: Risk allocation is basically a technique or method of identifying the risks and deciding whether…

Q: What is the difference between the Public contracts and the Private contracts?

A: Public contract is a contract to undertake a specific task which is financed by government funds to…

Q: How can the Risks be identified?

A: - Risk are uncertainties arises which result in delay and loss occurring during any project. -…

Q: What are the four fundamental concerns that must be addressed by the value engineer?

A: The engineer is responsible for the completion of the construction project. The engineers work hard…

Q: What are the performance bonds?

A: Performance bond:

Q: Describe Managerial Competence risk?

A: Managerial competencies serve an essential part in various forms of organisations now a days.…

Q: What are the requirements of the specifications that call for certificates of compliance?

A: The  certificate which gives the information that the company or organization has met certain sets…

Q: What are the responsibilities of the owners?

A: Risk management is one of the most significant functions of an owner to make any large project…

Q: What are the guidelines for Negotiations?

A: Three key guidelines of Negotiation:

Q: What is the method of negotiation resolution?

A: In a construction project dispute arises when parties disagree to each other at any point in…

Q: The mayor has asked you to explain to the city council members how a SCADA system can save money.…

A: Hytyjhb jiggb bkuttoxkvxigdoysiysoysigs nhihua tdtdwigoh hifyeyfihohkfucjxhvkgjf mvkfhfkvlb…

Q: What is the relevance of a set of guidelines?

A: For any set of guidelines, there should be a workforce or a community to abide by it. The relevance…

Q: Question 2: (a) Occassionally I have been asked by a contractor or other professional to sign and…

A: a. As per National Society of Professional Engineer (NSPE) "responsible charge" is defined by…

Q: What are the benefits of Employer Liability Insurance?

A: Employer Liability Insurance It is useful for a person/owner when one of his/her workers meets with…

Q: Define the term Federal Policy?

A: A policy is a planned system of principles to supervise decisions and achieve stable results. A…

Q: How are the problems resolved when disagreements occur between the parties?

A: A dispute resolution is also referred to as alternative dispute resolution, it is a method for…

Q: What is the fixed-price incentive contract?

A: Fixed price incentive contract is a contract in which a fixed percentage on the total target cost or…

Q: What is a compensation event?

A: The compensation event is termed as “the event which is not generally the error of the contractor…

Q: What are the physical risks at risk management?

A: Risk management is used for finding out the potential risks in advance, examining the risk, and…

Q: Describe the process of the Evaluation of Public Projects?

A: The process of project evaluation utilizes comprehensive review to collect data and show the…

Q: How does conciliation work?

A: Conciliation includes an independent conciliator who promotes contact between the opposing parties…

Q: What is the Spectrum of Risk?

A: The process of undertaking risks in the construction project to get returns in some certain amount…

Q: What kind of cost-saving measures can be taken?

A: - Various measures to be taken for cost saving includes : 1- Use of alternative material - Use of…

Q: What is federal contract change?

A: - Federal contract is same as cooperative contracts in which government provide financial support…

Q: How can different risks be allocated?

A: The construction industry has different risks which may affect the completion of project and cause…

Q: What is the process for a compensation event?

A: process for compensating event mention below:

Q: What are third party rights?

A: In some Jurisdictions, the law allows third parties to obtain rights under the contract. This is…

Q: What is Risk Allocation?

A: The risk allocation is defined as “the process of identifying the risk factors and determining how…

Q: What are the disadvantages of the written contracts?

A: Written contract: A written contract could be a written agreement between 2 parties, one a borrower…

Q: What is the aim of Third Party Rights?

A: Construction comes typically involve collateral warranties and third party rights so third parties…

Q: Explain the statement 'submittal of evidence insurance'?

A: The proof of valid insurance with an insurance company which is provided to another individual for…

Q: What is the role of a mediator?

A: role of mediator:

Q: What is the Bargaining strategy?

A: - Bargaining is the method of negotiating a price of product so that it can be mutually acceptable…

Q: Why is it necessary to observe changes within the terms of the contract?

A: The agreements which are in the written document form and gives the details of law on different…

Q: What are the two basic precepts that should be recognized as the criteria for sharing of risk?

A: The activities on site that cause the negative and undesirable consequences due to some uncertainty…

Q: How can the risks be minimized?

A: Risk - A construction risk can be defined as any exposure to possible loss. Expose (someone or…

Q: What is the use of Management Structure?

A: Project Management is the application of processes, knowledge, skills, experience, tools and…

Q: What is the effect of climate on value engineering project?

A: Value Engineering Project: The Value Engineering is a basic approach which involves conscious and…

Q: What are the different types of Risks?a

A: The condition in which there is possibility of hazard or something bad happening is known as risk.…

Classification of Legal Structure

The first step for the establishment of any company is to find a suitable legal structure. To determine the appropriate legal structure for a specific company or a venture, professional guidance is necessary for the deep understanding of various structure classifications, long-term targets, and certain choices. The categorization of different business legal structures comprises liability implications, income and taxation considerations for the company owners.