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INDIAN
SCHOOL OF BUSINESS MANAGEMENT AND
ADMINISTRATION
AN ISO 9001:2015 CERTIFIED INTERNATIONAL
B-SCHOOL
Name:
Marks:
80
Course: Masters in Business
Administration (MBA 4 Sem)
Subject: Construction Management
Answer the following question.
Q1. Describe the business opportunity in construction industry?
The construction
industry offers a wide range of business opportunities for investors and
entrepreneurs, and the demand for construction services is likely to remain
high in the coming years.
The construction industry offers several business opportunities for
entrepreneurs and companies. Some of these opportunities include:
a)
Construction
Company failure: Despite being a challenging industry, there are several
reasons why construction companies fail, such as poor financial management,
lack of proper project planning, and inadequate risk management. An
entrepreneur can take advantage of this situation by starting a construction
company that
Q2. Explain the all
constitute of tender documents? Instruction to Tenderer.(10 marks)
Answer : Tender documents are a set of documents that provide detailed
information on the scope of work, terms and conditions, specifications, and
pricing for a project. It is an invitation to contractors to submit their
proposals to undertake the work. The instruction to tenderer is one of the
important components of tender documents. It provides the guidelines to the
contractors on how to submit their bids.
The instruction to tenderer includes the
Q3. What Are the Different
Types of Contracts? (10 marks)
Answer : Contracts are
legally binding agreements between two or more parties that define the terms
and conditions of the exchange of goods, services, or property. Different types
of contracts are used based on the nature of the transaction and the
requirements of the parties involved. The following are some common types of
contracts:
- Express Contract: An express contract is a written
or oral agreement that explicitly states the terms and conditions of the
agreement. The terms of the contract are agreed upon by both parties, and
the contract is legally binding.
- Implied Contract: An implied
Q4. Explain the
flowing in Brief? Completion of Erection or Installation and Preliminary
Acceptance (10 marks)
Answer : Completion of
Erection or Installation and Preliminary Acceptance refers to the stage in a
construction project where all the physical components of the project have been
completed, and the project is ready for use. It is an essential milestone in
the construction process, as it marks the transition from the construction
Q5. Explain the
flowing in Brief? Turnkey Contract. (10marks)
Answer : A turnkey
contract is a type of contract where the contractor is responsible for the
design, construction, and commissioning of a project or facility. In this type
of contract, the client provides the basic idea or requirements for the
project, and the contractor takes care of the rest. The contractor is
responsible for everything from the initial design to the final handover of the
completed project to the client.
The key feature of a
turnkey contract is that the contractor takes on all the risks associated with
the project. They are responsible for
Q7. Write short notes
in the following on Guarantee Tests (10 marks)
Answer : Guarantee
Tests:
Guarantee tests are the
tests that are conducted on plant and equipment to ensure that they meet the
guaranteed performance criteria that have been established in the contract. These
tests are also known as performance tests, acceptance tests or proof tests.
These tests are carried out under the supervision of the owner's representative
and the contractor. The purpose of these tests is to establish whether the
equipment meets the performance standards specified in the contract.
There are different
types of guarantee tests that can be performed, depending on the nature of the
equipment and the contractual requirements. The most common types of guarantee
tests are:
- Factory Acceptance Test (FAT):
Q8. Write a short note on the following (10 marks)
Answer : No Topics were provided in
PDF.
Dear
students get fully solved assignments
Send
your semester & Specialization name to our mail id
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or
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