Participants and Organizational Structures in Construction Projects
Participants of Construction Projects
Introduction to the System of Means
The system of means (medios) refers to the interrelationships between participants in a construction project, encompassing various aspects such as:
- Power (political, legal, administrative, communicational)
- Human (institutions)
- Technical
- Economic (financial, accounting)
Client
Form
Individual / firm / institute
Role
- Defining the project’s aim
- Ensuring financial backing
- Selecting other participants (in accordance with legal commitments,
Economics: Fundamental Concepts and Principles
Chapter 1
What do economists mean when they say that “there is no free lunch”?
It means there are scarce inputs so to obtain something you must sacrifice other things. This is called the opportunity cost. To obtain more of one thing, society sacrifices the opportunity of getting the next best thing that could have been created with these resources.
Explain the individual’s economizing problem.
The economizing problem is the need to make choices because economic wants exceed economic means. Individuals
Read MoreComprehensive Guide to Finance, Investing, and Business Operations
Types of Mutual Funds
Mutual funds are categorized into various types based on investment objectives, asset classes, and structure. Here are some common types:
- Equity Funds: These funds primarily invest in stocks, aiming for long-term capital appreciation. They are further classified by market capitalization (large-cap, mid-cap, small-cap) or sector focus (technology, healthcare, etc.).
- Bond Funds: Also known as fixed-income funds, these invest in various bonds, such as government, corporate, or municipal
Marketing Metrics: A Comprehensive Guide to Measuring and Improving Performance
MARKETING METRICS is the set of measures that helps marketers quantify, compare, and interpret their performance. OBJECTIVES “To have 30 per cent of all retail outlets stocking our product by year 3.” STRATEGIES Product, price, place, promotion METRICS Are we hitting our targets? Business leaders wishing to make their marketing function accountable should demand answers to 3 fundamental questions – and in this order: 1. For what should their marketing function be accountable? 2. To whom? 3. And
Read MoreCost Accounting: A Comprehensive Guide with Practical Examples
1. Accrual Accounting vs. Cost Accounting
What are the differences?
Accrual accounting focuses on tracking a company’s financial performance over time. It utilizes key financial statements like:
- Balance Sheet
- Income Statement
- Statement of Cash Flows
Cost accounting, on the other hand, is dedicated to determining the economic value of goods and services.
2. Managing Excess Plant Capacity
What can an industrial company do when plant capacity exceeds 70%?
When facing excess capacity, companies can explore several
Read MoreOperation Management: Planning, Coordinating, and Controlling Resources for Business Success
Operation Management: The Business Function
Operation Management is the business function responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company. It is a core function of every organization and transforms inputs into outputs.
Inputs and Outputs
Inputs are resources such as:
- People
- Facilities
- Processes
- Material
- Technology
- Information
Outputs are finished goods and services.
OM’s Transformation Role
OM’s transformation role is to:
- Add value: