What Is Ipd ( Integrated Project Delivery - 1171 Words

What is IPD (Integrated Project Delivery)? The American Institute of Architects (AIA) currently defines IPD as a project delivery method that integrates people, systems, business structures and practices into a process that collaboratively harnesses the talents and insights of all participants to reduce waste and optimize efficiency through all phases of design, fabrication and construction (Wikipedia, The Free Encyclopedia 2015). . Over time, businesses are adopting the integrated project delivery and project partnering in place of traditional delivery methods. Adopting integrated project delivery methods are advantageous since they help reduce costs, do away with waste as well as improving productivity hence positive project outcomes (Burcin Karen, 2010). IPD works in a way such as all team members integrate with each other. For instance, the owner, construction manager, architect, engineers, subcontractors, and even technical vendors work together. IPD is an effective tool because it involves all team members who work collaboratively to ensure the success of the project. In the construction industry, IPD goes hand in hand with BIM. The alignment of the software BIM is leading the path for collaboration and the merging of all facets of project delivery – architectural, engineering, mechanical, construction, costing, programming, and life cycle management. The ability to unite all facets of the design and construction into a shared model is beneficial from numerousShow MoreRelatedThe American Institute Of Architects1307 Words   |  6 PagesWhat is IPD (Integrated Project Delivery) as it applies to construction? Generally speaking here is how it works: IPD is a process where a team of everyone involved in the project gets together and create a plan then continue to be involved to see it through completion. The team is bound together by contract legally and stands to gain or lose financially as a whole by the outcome of the project. The American Institute of Architects (AIA) currently defines IPD as a project delivery method thatRead MoreIntegrated Project Delivery Method For Construction1311 Words   |  6 PagesIntegrated Project Delivery Method What is IPD (Integrated Project Delivery) as it applies to construction? Generally speaking here is how it works: IPD is a process where a team of everyone involved in the project gets together and create a plan then continue to be involved to see it through completion. The team is bound together by contract legally and stands to gain or lose financially as a whole by the outcome of the project. The American Institute of Architects (AIA) currently defines IPDRead MoreComponents Of Integrated Project Delivery1383 Words   |  6 PagesWhat is Integrated Project Design? There are many different business structures in place which businesses around the world are using today. One of these business structures, used in the design and construction industry, is called Integrated Project Delivery. Integrated Project Delivery is a business style which incorporates all aspects of design throughout the entire design process. This includes, but is not limited to, all participants, business coordination’s, and business systems, and the wayRead MoreThe Decision Making And Judgement Calls1124 Words   |  5 Pagesbut some are judgment calls not susceptible to analysis due to time or information constraints. Please write about a judgment call you’ve made recently that couldn’t be analyzed. It can be a big or small one, but should focus on a business issue. What was the situation, the alternatives you considered and evaluated, and your decision making process? Be sure to explain why you chose the alternative you did relative to others consi dered. It feels as if we rarely have situations with sufficientRead MoreThe Project Of Cathedral Hill Hospital With Lean Culture1073 Words   |  5 PagesFigure 11. The Project of Cathedral Hill Hospital with Lean Culture Other Lean techniques that the researcher obtained through analyzing collected data are â€Å"customer-supplier† standpoints and the Plan Do Study Act (PDSA) approach. Fundamentally projects utilized Lean principles will pay more attention on the demands of customers to supply exactly what they need and require; therefore, this technique significantly reduce needlessly waste of the project. Likewise, PDSA is mentioned in the continuousRead MoreIntegrated Project Delivery For Construction2137 Words   |  9 PagesINTEGRATED PROJECT DELIVERY IN CONSTRUCTION Saveesna Pricella Baskaran, M.Eng. Construction Engineering and Management, Zachry Department of Civil Engineering Texas AM University, College Station, TX 77840. Email: sbaskaran90@tamu.edu Phone: 480.438.2721 Abstract: The productivity decline in the construction industry in recent years is mainly due to the schedule and cost overruns, poor coordination between the project participants and ineffective planning. Integrated project delivery (IPD) solvesRead MoreProject Management : Development Appraisal And Economics3568 Words   |  15 PagesBSC (HONS.) IN CONSTRUCTION PROJECT MANAGEMENT Construction Procurement Advisement SMRC Corporation, New Research Facility, Sligo Ireland G2 Consultants G.J. GERARD S00135023 12/1/2014 Module: Development Appraisal and Economics Lecturer: Leigh McLoughlin The purpose of this report is to summarize and analyze the various construction procurement methods used in the construction industry. This report was commissioned by SMRC medical research corporation. This report willRead MoreApplicability Of 4d Modeling For Resource Allocation Of Mega Liquefied Natural Gas Plant Construction1855 Words   |  8 PagesLiquefied Natural Gas (LNG) plant construction and the development of it. Then the author described a process of an example where 4D models were applied to an offshore LNG plant construction project. At last the paper made a conclusion that the 4D models played an important tool for LNG construction projects and planning and the scheduling of resources. The focus of this article is similar to a topic covered in CVEN 638. The topic is â€Å"Digital Cities†. In the class, the professor gave usRead MoreEc Harris Global Construction Report850 Words   |  4 Pagesaltogether guide joint effort, it can be reasoned that a well framed collaborative contract would perceives the characteristics of the industry and reacts to them sufficientlyby providing a framework where the realities of daily operations at the project site are made less antagonistic (Pagano Volpin, 2005). NEC 3 suite of contracts, JCT Constructing Excellence Contract (JCT CE), ACE PPC 2000 and CIOB Complex Construction Contract 2013 are few standard construction contracts which contain collaborativeRead MoreCompany Analysis : Ryan Company1449 Words   |  6 Pagesspecializes in integrated project delivery, building information modeling (BIM), Lean construction practices and sustainable design for office, retail, industrial, public sector, alternative ener gy (biomass and gasification,[2] wind, solar), health care, higher education, hospitality, mission critical, multi-family and senior housing and mixed-use projects. With in-house construction, design, development, capital markets and real estate management, Ryan uses integrated project delivery (IPD) as a preferred

Biography of Howard Hughes, Businessman and Aviator

Howard Hughes (December 24, 1905–April 5, 1976) was an American businessman, movie producer, aviator, and philanthropist. Over the course of his life, he amassed a fortune of $1.5 billion. Though Hughes had many accomplishments in his professional career, he is now best remembered for his final years as an eccentric recluse. Fast Facts: Howard Hughes Known For: Hughes was a businessman, film producer, and aviator known for his immense wealth and eccentric lifestyle.Also Known As: Howard Robard Hughes Jr.Born: December 24, 1905 in Humble or Houston, TexasParents: Howard R. Hughes Sr. and Allene Stone GanoDied: April 5, 1976 in Houston, TexasEducation: California Institute of Technology, Rice UniversityAwards and Honors: Congressional Gold Medal, International Air Space Hall of FameSpouse(s): Ella Rice (m. 1925–1929), Jean Peters (m. 1957–1971) Early Life Howard Hughes was born in either Humble or Houston, Texas, on December 24, 1905. Hughes father, Howard Hughes Sr., made his fortune by designing a drill bit that could penetrate hard rock. Prior to this invention, oil drillers werent able to reach the large pockets of oil lying beneath such rock. Howard Hughes Sr. and a colleague established the Sharp-Hughes Tool Company, which held the patent for the new drill bit, manufactured it, and leased it to oil companies. Though he grew up in a wealthy household, Howard Hughes Jr. had difficulty focusing on his studies and changed schools often. Rather than sitting in a classroom, Hughes preferred to learn by tinkering with mechanical things. For instance, when his mother forbade him from having a motorcycle, he built one himself by assembling a motor and adding it to his bicycle. Hughes was a loner in his youth. With one notable exception, he never really had any friends. Family Tragedy and Inheritance When Hughes was just 16 years old, his doting mother passed away. Then, not even two years later, his father suddenly died. Howard Hughes received 75 percent of his fathers million-dollar estate (the other 25 percent went to relatives). Hughes immediately disagreed with his relatives over the running of Hughes Tool Company, but being only 18 years old, Hughes could not do anything about it. He would not legally be considered an adult until he reached the age of 21. Frustrated but determined, Hughes went to court and got a judge to grant him legal adulthood. He then bought out his relatives shares of the company. At age 19, Hughes became the full owner of the company. That same year he married Ella Rice, his first wife. Film Production In 1925, Hughes and his wife decided to move to Hollywood and spend some time with Hughes uncle Rupert, who was a screenwriter. Hughes quickly became enchanted with movie making. He jumped right in and produced a film called Swell Hogan. He quickly realized the film wasnt good, however, and never released it. Hughes learned from his mistakes and continued making films. Two Arabian Knights, his third film, won an Oscar for Best Comedy Direction in 1929. With this success under his belt, Hughes decided to make an epic about aviation and set to work on Hells Angels, the story of two British pilots set during World War I. The film became Hughes obsession. His wife, tired of being neglected, divorced him. Hughes continued making films and produced more than 25 of them, including Scarface and The Outlaw. Aviation In 1932, Hughes developed a new obsession—aviation. He formed the Hughes Aircraft Company, bought several airplanes, and hired numerous engineers and designers to help him design a faster plane. He spent the rest of the 1930s setting new speed records. He flew around the world in 1938, breaking Wiley Posts record. Though Hughes was given a ticker-tape parade upon his arrival in New York, he was already showing signs of wanting to shun the public spotlight. In 1944, Hughes won a government contract to design a large, flying boat that could carry both people and supplies to the war in Europe. The Hughes H-4 Hercules (also known as the Spruce Goose), the largest plane ever constructed, was flown successfully in 1947 but never flew again. Hughes was involved in several accidents during his aviation career, including one that killed two people and left Hughes with major injuries. A near-fatal crash in 1946 left Hughes with a crushed lung, cracked ribs, and third-degree burns. During his recovery, he enlisted the help of engineers to design a new hospital bed. Reclusion By the mid-1950s, Hughes dislike of being a public figure began to severely affect his life. Though he married actress Jean Peters in 1957, he began avoiding public appearances. He traveled for a bit and in 1966 he moved to Las Vegas, where he holed himself up in the Desert Inn Hotel. When the hotel threatened to evict him, he purchased the hotel. Hughes also bought several other hotels and properties in Las Vegas. For the next several years, hardly a single person saw him. He had become so reclusive that he almost never left his hotel suite. At this time, Hughes was suffering from obsessive-compulsive disorder and germophobia. Death In 1970, Hughes marriage ended and he left Las Vegas. He moved from one country to another and died in 1976 aboard an airplane while traveling from Acapulco, Mexico, to Houston, Texas. Hughes had become such a hermit in his final years—and his physical health had so deteriorated—that no one was quite sure it was he who had died, so the Treasury Department had to use fingerprints to confirm his death. Legacy Hughes is perhaps best remembered for his contributions to the American film industry and for his eccentric behavior. His film archive—a collection of over 200 works—is now part of the Academy Film Archive. Hughes life has been the subject of numerous films, including The Amazing Howard Hughes, Melvin and Howard, and The Aviator. Sources Bartlett, Donald L., and James B. Steele.  Empire: The Life, Legend, and Madness of Howard Hughes. W.W. Norton, 1980.Higham, Charles.  Howard Hughes: The Secret Life. Virgin, 2011.

Walgreens structure Free Essays

Walgreen has faced over the past two years are changing their brand and the process needed to make that change. We can see that Walgreen has made some good decisions over the years . This is evident by the fact that there are still many Walgreen stores across the country and they are continuing to build new ones every year. We will write a custom essay sample on Walgreens structure or any similar topic only for you Order Now If we take a look into how they made such crucial decisions we will find them using good decision making techniques such as predetermination’s evidence, and good old fashioned Intuition. The first element we can find within Walgreen decision making process Is rainstorm. We can see that before changing the brand from old to new the mangers In the higher ranks of the corporation all got together and started throwing out Ideas. They did some research and based upon fact they made educated guesses on what may work and what probably would not work. The managers of Walgreen TLD a fantastic Job with their research and brainstorming. Walgreen wanted to stand out among their competition so In order to do that they had to know what the competitor was doing. It seemed the competitor was not much different from Walgreen. This is where we see the brainstorming really become effective. The managers began to come up with ideas on how to make the stores an experience instead of just a cash and carry drugstore. They really used the tools of good decision making to begin the process of changing the brand for good. Second we can look at the gathering of evidence. Walgreen knew if they were to be different then they had to study their competition. The head honchos did their homework well. They gathered information from research and surveys and listened to the customer needs. They not only listened they decided to take a chance and build their new brand on the customer experience. Now we have seen a company go from a rational model of decision making and step into the new age. They admitted that old manager models were out dated and they were ready to step into a fresh new approach. It is interesting that we see them heading into a very modern direction but using old fashioned decision making techniques to arrive there. Walgreen management team took their job seriously by making sure they followed through with pouring over statistics and studying successful companies with different brands than their own to see what was giving them the success. They decided that it Just had to be the customer service levels and the approach. Surprisingly enough we can also see the big bosses at Walgreen using their Intuition to make the final decision on whether to change the brand or not. They are customers at other places and they take their family and friends out to eat and do different things. When out and about they kept track of what businesses were full and why. If they went out to eat and there was a two hour wait they would pay close attention to why. This process gave them the Intuition, or experience to know what or how a person wants to be treated when they are spending their money with a company. They brought their Intuition to the drawing room and along with good brainstorming and gathering of evidence, the management staff of Walgreen was able to make a good business decision. We sometimes see ethics compromised when decisions are made and Walgreen is not a when they admittedly failed to control the sales of controlled substances in a few of its pharmacies. The effects of this could have ruined the company but lucky for them they were able to pay a hefty fine and shut the door on what could have been an ethical disaster for them. It seems the Federal government agreed to dismiss the ease when the fines were paid. How to cite Walgreens structure, Papers

The Pros and Cons of Negatively Geared Investments Free Sample

Question: Critically analyse the Risks and Returns associated to Negative Gearing from Investment in Definite Assets, Particularly in the Context of Increasingly Volatile Conditions of the Market. Answer: Introduction Background of the topic Negative gearing indicates towards purchase of a particular asset without even receiving adequate earnings from the specific investment to cover the interest expends as well as other associated costs involved in maintaining the same. As rightly indicated by Wood and Kemp (2013), negative gearing can be regarded as a certain form of negative leverage in which a particular investor can borrow money in order to invest. Objective of the report The objective of the current report is to critically analyse the risks and returns associated to negative gearing from investment in definite assets, particularly in the context of increasingly volatile conditions of the market. Summary of the findings Analysis of the findings reveals the fact that in the United Kingdom, negative gearing that leads to loss of earnings of a tax payer, that loss is essentially quarantined. Nevertheless, in cases where the taxpayer owns in excess of one asset, then any kind of loss can essentially be applied against gains of another, that too in the same financial year. However, in case if after the application of the loss, the tax payer remains in a position of net loss for the specific year, then in that case, that particular loss can also be carried forward as well as utilized in the upcoming income years (Grudnoff 2015). Thus, any kind of applied loss can be particularly offset as against the capital gains of the subsequent clearance of the assets. Analysis of the Risks and Return of negatively geared investments As advocated by Davidson and Evans (2015), all kinds of investment have an element of risk. However, there is always a cost associated to the factor of lowering of risk. Thus, it is often said that the lower the risk, the lower is the return. As correctly indicated by Mkumbuzi (2016), the risks that can be associated to negative gearing is that the entire value of the property might not sufficiently increase for covering up the losses. Yet another risk that can be associated to the negatively geared property is that the interest expense might rise. There are several individuals whom have suffered due to both of these two reasons. In addition to this, there are also issues of specific time that is taken to attain capital gains taking into account the uncertainty of attaining the same. As rightly indicated by Fajana and Oduyemi (2016), the bottom line that can be associated with negative gearing is that the investment is incurring a loss, and the ones who are banking on different windfalls can play a very risky game. The very word negative gearing suggests that the income or else the rent cannot essentially cover the costs of interest or in other words expenses of running the particular property. However, the gross earnings generated from the specific investment is lower than the owning cost as well as the cost of management, counting depreciation and the interest charged excluding repayment of capital. As rightly put forward by Wood and Ong (2013), a particular property with positive flow of cash implies that the rental earnings from the specific property can cover all the cost of outgoing cash related to the property. Contrarily, a property with negative flow of cash implies that the rental earnings from the definite property cannot cover up all the cost of the o utgoing cash related to the particular property. Another major risk that can be related to the negative gearing is essentially the legislative risk. Critics are also of the view that negative gearing is a bad thing as this makes it difficult for different first time owners to purchase a property such s home or else investment portfolio. However, this happens mainly because the investors need to compete with diverse offers presented by financiers and there are a few new comers who can compete with particularly seasoned as well as established investors. Furthermore, the things that are not taxed need to be made up by different other earnings, subsequently costing more to all the average (Peel 2016). As indicated by Baum and Crosby (2014), individuals who go for negative gearing essentially bet on bigger capital gain when they can sell all the acquired properties to make up for all the losses on essentially the income side. However, this can be observed as a dangerous scheme in which the risks can remain masked in a specific environment in which prices of the property can remain at high or else low level. On the other hand, Wood et al. (2016) argues that the advantages of negative gearing exist primarily for the financiers that deal with different types of property. However, since the losses from the investments decrease from specific taxable income, payment of taxes are comparatively less. Whilst there is net loss for a certain period, this too can assist in offsetting the loss until the overall investment develops and becomes something greater or more than the original. Particularly, the association with the taxes is not in all the nations. As correctly indicated by Morley and Thomas (2016), negative gearing occurs at the time when the overall rental earning received is lower than the entire cost involved in purchasing the investment property. This is also often regarded as capital growth properties and particularly the negatively geared investments are anticipated to appreciate in terms of value over a specific period of time. However, this increase is anticipated to outweigh all kinds of financial losses that occur during the short term period. In addition to this, the properties are also usually situated in areas that are closer to all the capital cities that typically performs over a specific long term period. Abeywardhana and Krishanthi (2015) debates that despite different disadvantages there are certain advantages of the negatively geared investments. The advantages can be observed in terms of growth in capital. Geurs and Halden (2015) advocates that the returns from capital are said to outweigh the entire levels of borrowings in addition to costs in order to create wealth for all the investors at sale given that the strategies and arrangement of negative gearing are implemented. Baum and Crosby (2014) suggests that the negatively geared investment schemes also help in affordable investments for tenants owing to the affordability. This can help in securing tenants for a long term period. In addition, negatively geared investments are also less volatile unlike a particular property in a local areas that might depend heavily on specific employment industries to lift up the demand. In this case, the properties heavily depend on varied factors and can be regarded to be less volatile investments. However, critics argue that there are also disadvantages or risks that are attached to the negative gearing. For instance, budgeting is required in order to deliver budget for different ongoing shortfalls at the time when the particular property under consideration is sold against a profit. Furthermore, critics put their view against the negative gearing and advocates that this is not a long term strategy for creation of wealth (Peel 2016). Thus, in case if the circumstan ces alter and a sale becomes obligatory then the sums might not work out desirably. Again, if in case an individual losses a job, then there is need to maintain the costs associated. Thereafter, it becomes necessary to build a plan that can ensure that the individuals are entirely prepared. For example, protection of income long with insurance policies (Mkumbuzi 2016). Numerical Example A numerical example can help in further explaining the negatively geared investment and help in correctly appraising the same. For instance, there is purchase of an investment property and the purchased property is situated in an area of high growth and stable area where essentially properties are rented at an affordable price owing to higher availability of different rental properties in the specific area. Let us consider, the property is rented to tenants against a rental return of around $425 every week. However, the cost of repayments for the specific property that includes repayments of loans, management of property, fees and rates amounts to $440 each week. Thus, after all expends it can be observed that the rental income generated from the property does not cover the entire cost of repayment and there is a shortfall of around -$15 every week. Thus, in this particular situation, it can be said that the property is negatively geared. Another example of negative gearing, suppose a property is purchased for $300000 and $250000 is borrowed for financing the project at a interest rate of 8% along with weekly rent of $300. Other ongoing costs comprise of fee of then agents that is around 8.5% of all specific rents, rates, repairs, maintenance as well as insurance. This suggests that the net income for the entire year can be $14274 obtained by deducting $1326 from $15600 that is equal to a net yield of rental of 4.75%. Conclusion The above mentioned helps in comprehensive understanding regarding the pros and cons of negatively geared investments. The current segment explicates the fact that the negatively geared investments are anticipated to generate higher profits only by means of capital gains. In addition to this, there remains no assurance as regards the value of particular property that can appreciate during the time period of holding that in turn can cover up for the losses. In this regard, it can be said that the gearing policy can increase gains and at the same time can amplify the figure of losses in case if the property price falls that is in volatile market conditions. This in turn can lead to increase in the loan balance in comparison to the value of the property. References Abeywardhana, Y. and Krishanthi, D., 2015. Capital Structure and Profitability: An Empirical Analysis of SMEs in the UK.Browser Download This Paper. Baum, A.E. and Crosby, N., 2014.Property investment appraisal. John Wiley Sons. Davidson, P. and Evans, R., 2015. Fuel on the fire: Negative gearing, capital gains tax housing affordability.ACOSS Papers, p.29. Fajana, O.S. and Oduyemi, O., 2016. Is Opportunistic Investing Rewarding?A Study of United Kingdom Unlisted Funds. Geurs, K. and Halden, D., 2015. 30 Accessibility: theory and practice in the Netherlands and UK.International Handbook on Transport and Development, p.459. Grudnoff, M., 2015. Top gears: How negative gearing and the capital gains tax discount benefit the top 10 per cent and drive up house prices. Mkumbuzi, W.P., 2016. Influence of intellectual capital investment, risk, industry membership and corporate governance mechanisms on the voluntary disclosure of intellectual capital by UK listed companies.Asian Social Science,12(1), p.42. Morley, B. and Thomas, D., 2016. An Empirical Analysis of UK House Price Risk Variation by Property Type.Review of Economics and Finance. Peel, M.J., 2016. Owner-Managed UK Corporate Start-Ups: An Exploratory Study of Financing and Failure.Entrepreneurship Research Journal,6(4), pp.345-367. Wood, G., Ong, R. and Cigdem, M., 2016. Housing Tax Reform: Is There a Way Forward?.Economic Papers: A journal of applied economics and policy,35(4), pp.332-346. Wood, G.A. and Kemp, P.A., 2013. The taxation of Australian landlords: Would the British tax treatment of rental investments increase tax burdens if introduced in Australia?.Urban Studies,40(4), pp.747-765. Wood, G.A. and Ong, R., 2013. When and why do landlords retain property investments?.Urban Studies, p.0042098013484544.