This subject investigates the broad range of project procurement systems currently in use in property development and construction. It includes critical evaluation of methods such as lump sum, design and construct, BOOT, BOT, BOO and public-private partnerships and strategies such as alliancing, partnering and joint ventures for timely, economical and efficient project delivery.
|Faculty||Faculty of Society & Design|
1. Students completing this subject will be acquainted with the design and management of procurement methods, the various types of construction contracts, an understanding of contract theory and practice and optimal procurement strategies for particular asset classes.
2. Gain an understanding of the role of incentives, complete and incomplete contracts, lifecycle costing, project management and risk management in the project delivery process.
3. Acquire knowledge about how to develop a procurement strategy, design bid evaluation criteria, resource the project management team and conduct business case analysis.
4. Review and analyse the allocation and acceptance of risk under different contractual arrangements and develop measures to mitigate the effects of various types of risk.
5. Evaluate the impact of different procurement methods on the various stakeholders in the development and construction process including clients, project managers, contractors and consultants.