CCE3330Construction Codes Specifications Contracts Homework

CCE3330-Construction Codes, Specifications & Contracts Homework #1-Spring 2018 120 Points DUE 1/19/18 Il answers to following questions. You are encouraged to conduct research outside of what is stated in the text. You will be graded on the completeness of your answers, your ability to argue your points/answers, as well as on professional communications expectations, i.e. spelling. grammar, diction, sentence structure, etc Construction Industry Questions effectively What construction-related measures can be used to describe the strength of the US economy? Why are this measures appropriate? What do they indicate about our current economy? Discuss the importance of project management in the construction industry? From your reading of the BOK2, to whom does it apply and why? Does it apply to you? Why is a Body of Knowledge so essential to a profession? Does your plan of study as an undergraduate assist you in reaching the levels of achievement as outlined in the BOK2? Are they any shortcomings? Do you think you may go beyond what is required and if so, why? What personal responsibility do you have for achieving the outcomes in the BOK2? Consider the Guidance to Students and assess how well you are following to this advice. How might this advice guide you during your remaining time as an undergraduate student? Consider the Guidance to Faculty. Without including any specific names of faculty, assess our faculty\'s adherence to this guidance. What could we do better?

Solution

Construction related appropriate measures

the construction industry has now entered a more mature phase of its expansion, one that is characterized by slower rates of growth than what took place during the 2012-2015 period, but still growth. Since the construction start statistics will lead the pattern of construction spending, this means that construction spending can be expected to see moderate gains through 2017 and beyond.”

The U.S. economy in 2017 is anticipated to see moderate job growth, market fundamentals for commercial real estate should remain generally healthy, and more funding support is coming from state and local bond measures. Although the global economy in 2017 will remain sluggish, energy prices appear to have stabilized, interest rate hikes will be gradual and few, and a new U.S. President will have been elected. For 2017, total construction starts are forecast to rise 5% to $713 billion. Gains of 8% are expected for both residential building and nonresidential building, while nonbuilding construction slides a further 3%.”

Commercial building will increase 6% on top of the 12% gain estimated for 2016. Office construction is showing improvement from very low levels, lifted by the start of several signature office towers and broad development efforts in downtown markets. Store construction should show some improvement from a very subdued 2016, and warehouses will register further growth. Hotel construction, while still healthy, will begin to retreat after a strong 2016.
Highways and bridges will derive support from the new federal transportation bill, while environmental works should benefit from the expected passage of the Water Resources Development Act. Natural gas and oil pipeline projects are expected to stay close to the volume that’s been present in 2016.

Our Current Economy

Construction spending and starts are expected to remain strong in 2018, but again the amount of growth is forecast to be a bit more subdued.
construction starts forecast for 2018 is a 4.8% increase to $773.1 billion. Commercial construction (offices, parking garages and transportation terminals) is expected to have a 12.4% increase in starts next year with conservative growth out through 2021.
Industrial, which includes manufacturing facilities and warehouses, is expected to see a 5.6% decrease in starts in 2018 after seeing a 22.8% increase in 2017. Retail construction starts are expected to decline another 2.8% in 2018 after experiencing a 16.5% drop in 2017.
Importance of Project management

Project management is used extensively in some form within many organizations. “There is no recognized industry where project management practice is not applicable”. Project management generally helps: to clarify goals and determine problem areas and risk; to isolates activities and easily monitor end results. Further, using PM enhances accountability as works can be isolated and responsibilities can be assigned; moreover, it helps focus attention on few specific and important tasks.

Project management can best be applied when:
Resources are to be shared among many units.
Special attention or focus is to be given to important undertakings (example to focus attention on specific customers in specific market).
Dealing with ad hoc, complex, unfamiliar, unique, or rare; activities, problems and opportunities.
Dealing with tasks that require pooling of many resources and capacities from diverse sources (example providing emergency response during disasters).
It is desired to bring a wide range of experience and viewpoints into focus (example in research and product development or solving complex problems).
Dealing with an undertaking that require massive input of capital, technology, skills, and resources.
When it is desired to have unified management of a project-based contract in order to avoid the customer work with many different functional units. When there is a need to manage change.