Assignment 3 PP2 Lau Hui Ming 0323827
Assignment 3 PP2 Lau Hui Ming 0323827
Assignment 3 PP2 Lau Hui Ming 0323827
0323827
ASSIGNMENT 3: Professional Practice & Entrepreneurship II, March 2022
Due: 6:00 pm, Thursday 14 July 2022
1
Student Name: Lau Hui Ming Student ID No. 0323827
ASSIGNMENT 3: Professional Practice & Entrepreneurship II, March 2022
Due: 6:00 pm, Thursday 14 July 2022
2
Student Name: Lau Hui Ming Student ID No. 0323827
ASSIGNMENT 3: Professional Practice & Entrepreneurship II, March 2022
Due: 6:00 pm, Thursday 14 July 2022
offers a wider range of situations under which the contractor may request an extension of
time for a project.
2. THREE (3) most important criteria for selecting contractors to recommend to the client:
a) Contractor reputation
To determine whether contractor truly has the capacity to manage the project, clients
must investigate the reputation of the principal contractor. The customer can learn what
a contractor has done by looking at their previous project, but they can only learn whether
these projects were successfully completed by looking into the performance of the
contractor. The completion of projects is the major focus of the construction industry,
therefore the project goals of quality, cost, and time gained importance as the primary
determinants of customer satisfaction.
b) Technical Capacity
It's critical to evaluate the technical expertise of the contractor based on prior
performance, including experience, plant, equipment, and employees. In other words,
clients evaluate a contractor's technical ability by focusing on his tangible assets (such
machinery and equipment) and the amount of technical skill required to carry out certain
projects. A contractor's technical competency may be determined by looking at his or her
preferred construction methods, the knowledge and experience of their technical team,
3
Student Name: Lau Hui Ming Student ID No. 0323827
ASSIGNMENT 3: Professional Practice & Entrepreneurship II, March 2022
Due: 6:00 pm, Thursday 14 July 2022
the efficiency and speed of their building processes, and the caliber of their services and
end product.
c) Financial capacity
A contractor's trust and reputation among customers and suppliers grow together with his
financial stability. Most construction projects are financed by the customer, who pays the
contractor on a regular basis. The contractor then reimburses the subcontractors,
suppliers, and other project participants for their services. Typically, the customer retains
a share of the recurring payments. The contractor's and client's financial stability is crucial
to the routine's success.
4
Student Name: Lau Hui Ming Student ID No. 0323827
ASSIGNMENT 3: Professional Practice & Entrepreneurship II, March 2022
Due: 6:00 pm, Thursday 14 July 2022
parties involved and the customer has less administrative work to do, the Design and
Build procurement contract gives the client a single point of contact, which may help to
prevent disagreements and conflicts. The main contractor's consistent communication
with consultants, suppliers, and contractors reduces the probability of discrepancies.
Since the client will provide relatively little information for the contractor to estimate the
concept design and finish the technical design, the main contractor will choose and
coordinate with consultants and experts from the design to construction process. The
construction work is completed by subcontractors. As the contractor oversees both the
works' design and construction, it reduces risks for the client.
c) Cost Savings
Financial risk reduction begins at the early stage of a hospital's design. Construction
specialists are an integral part of the design team, so construction issues are addressed
early. The design-build team works together to decide the most cost-effective materials
and methods of delivery before a design is finalized, enabling them to provide more
accurate costs and better scheduling up front. Because the same group is responsible for
aesthetic, cost, and functional performance of the hospital, the possibility of costly
surprises in the construction phase is virtually eliminated.
END OF ANSWERS