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Project and Cost Management Assignment Sample

Topic: Project and Cost Management
Document Type: Research Topic
Number of Words: 1600 words + Excel Work
Pages: 13 pages
Referencing Style: APA

 

TASK 1 – Procurement and Tendering

a)

In the case of the Hung Shui Kiu (HSK) New Development Area (NDA)" project, there are primarily two Procurement strategies that are most suitable; Traditional Design-Bid-Build Procurement Strategy and Design & Build Procurement Strategy.

The Traditional Design-Bid-Build strategy offers the advantages of having separate design and construction phases which permits a competitive bidding process for the construction stage. The competitive tendering process allows cost savings as multiple contractors compete to get the project. Further, this approach puts in place a well-defined scope at the beginning of the project that minimises the risk of any changes in the scope of the project at any later stages of the project (Citeladze, 2023).

One of the limitations of this approach is that it limits collaboration between the construction and the design team thereby restricting innovation and value addition in the engineering work. This approach requires a longer time duration in the procurement which can extend the project timelines due to consecutive design and construction phases. Risks further increases in this process if any issue occurs in the design at any later stage of the project.

On the other hand, the Design & Build (D&B) offers the advantage of having a single point responsibility as a single contractor is awarded the job of designing and constructing the project which increases communication between various stakeholders and increases accountability. The timelines are shorter in this process due to the overlapping of design and construction processes. This strategy allows contractors to offer innovative solutions and optimize the costs through value engineering. However, the limitations of this approach could result in the client having less control over the design process which could be a issue in challenging & complex projects. There are also higher risks for potential claims due to any design issue as a result of integration of the design and build phase of the project. (Citeladze, 2023).

Recommendation:  In view of the objective of the “Hung Shui Kiu (HSK) New Development Area (NDA)" project to have a sustainable and balanced community which the challenges and complexities associated with the transformation of a vast area, the most suitable procurement for this project would be the Design & Build (D&B), due to the following factors:

  • It will be easier to streamline the decision-making process and ensure accountability if there is a single contractor who is working in both the design and the construction stages.
  • It allows faster project completion which will be in line with the proposed time of the project from January 2024 to December 2029.
  • Through innovation and value engineering the primary objectives of having a sustainable and people-oriented community can be attained (Chan & Sin, 2009).

With regards to the contractual relationships, the D&B approach offers the benefit of having single contract rather than dealing with separate contracts, it is easier to change orders and modifications and have better stakeholder communication which can reduce delays.

b)

Several requirements for a suitable tendering process are; pre-qualification of contractors, detailed project scope, performance bonds, quality control measures, risk apportionment, dispute resolution & environmental compliance. Considering above requirements & objectives of the proposed project, the Selective Tendering Process well suited for the project. It offers higher focus on the quality of the project as it allows clients to select pre-qualified contractors based on their experience and past projects undertaken. As only a select group of contractors bid in this process it increases efficiency by saving time. It also allows the involvement of specialized experts for complex projects. Risk apportionment is better managed by allowing the client to set up clear criteria for selection which will also take into account the risk management ability of the contractor.

However, the major drawback of the process is that it limits the competition and thereby raises the cost of the project. There could also arise concerns related to transparency if the criteria for contractor selection are not completely clear (Chan & Sin, 2009).

The Selective Tendering process allows better management of risk apportionment through:

  • Setting up a stringent contractor prequalification criterion to reduce the chances of project delays and quality issue risks.
  • Clearly defining the responsibilities in risk allocation & process to manage the risk for all stakeholders.
  • Developing an effective risk management plan by the contractor.
  • Establishing a transparent dispute resolution process to manage disagreements.
  • Providing a monitoring process to evaluate risk management by the contractors (Construction cost handbook 2006).

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