6 most popular types of tendering methods in the construction industry

There are various types of tendering methods, to analyze, negotiate and award a project to a contractor. But We can only identify two types of contractual bindings in the construction industry. The first is a standing offer under a maintenance work for a specified period, and this contract type is rare compared to others. The …

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6 Steps of Value Engineering Methodology

Value engineering is also called value analysis in the construction industry, And it is the most crucial step in the value management process.  The Hard definition of Value engineering is, “Value engineering is the process of optimizing or improving project or product to deliver its maximum functionality or capabilities without spending much cost and without damaging the quality …

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3 Corporate social responsibilities of a sustainable company

Why Corporate social responsibilities (CSR activities) are essential? Because the World population is highly growing and the resources are becoming scarce day by day.  Peoples and organizations are more concerned to find a way of sustainable developments. 1972 Stockholm earth summit has set out broad goals against the pollution. And the 1992 Rio de Janeiro …

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What is Value management

What is this Value Management in the construction industry? Most of the people are misunderstood that value management is the method to reduce the cost of construction. As per the correct definition, value management is the systematical method used to develop a project to achieve its utmost benefits for the users and owners. To do it, the …

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Why Remeasurement(Re measurable) contracts / Unit price contracts

The re-measurable/remeasurement contract is the most popular type of contract used in the former construction industry. But even so, large construction companies are using this method to hire subcontractors for tasks such as painting, plastering, etc. In this method, the companies will receive the payment based on actual work. Compared to other procurement methods, the …

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What is Earned value management system (EVM)

Earned value management system (EVM) is a practice which project management professionals developed to evaluate performance & progress of a project. Implementation of this system in a project can provide several benefits. what are the advantages of the Earned value management system? An early indication of budget or time overrun More sensitive data for effectual …

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What is the process of construction arbitration?

What is the construction arbitration process in the? Arbitration, mediation, litigation. These words are very common in the construction industry. Because the industry is full of disputes. There are a handful of ways to resolve disputes in the construction industry. But arbitration is the most famous method of resolving contractor and client disputes. In the …

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