Construction Industry Overview

Front

Who are the parties involved in the construction process?

Back

Owner/Client

Design Consultant (Architect/Civil & Structural Engineer)

Other Consultants (Quantity Surveyor, Land Surveyor, Mechanical & Electrical Engineer)

Construction Contractor/Builders

Project Manager

Front

What are the stages in the construction process?

Back

1. Pre-Design: Request for Proposals.

2. Design: Schematics, Design Development, Contract Documentation.

3. Bidding/Negotiating: Main Contractor.

4. Construction: Commence, Subcontract Bidding & Award, Notice of Completion, Building Operational & Maintenance Bidding.

Front

What is the economic impact of the construction industry?

Back

1. 1. Huge potential in generating vast amounts of employment.

2. 2. Largest amount of energy consumption, utilizes half of the total resources used worldwide.

3. 3. Causes migration due to ongoing development.

Front

What are the types of market structures in the construction industry?

Back

Monopolistic , oligopoly, monopsony, monopoly, duopoly, and duopsony.

Front

How do consultants determine their pricing in construction?

Back

Consultants use a scale of fees determined by their professional body, based on a certain percentage of the total cost of related works.

Front

How do contractors determine their pricing in construction?

Back

Contractors determine the price before work is agreed upon through tendering and bidding.

Front

What is a tender in the construction industry?

Back

A tender is a formal offer to supply goods or do a particular job, including a statement of the price.