With its contribution to the economic development and economic activities, construction sector has a significant affect in the development of any nation. Because the construction sector is large and responsive, as well as it has a strong linkages with other industries, it is a key sector can affect economic development and, hence, it is important to know what is the role of the construction sector is in the economy. There are 5 factors that the construction sector affect in the economic development and economic activities. i. Demand for basic materials Beyond the construction activity itself, construction drives demand for building materials.
The mechanization of construction is a world-wide phenomenon and determines the development of this industry. Through construction mechanization one can achieve the following goals: speed up the rate of work in comparison with manual methods and so shorten the construction cycle, Reduce labor consumption, increase production capacity, and reduce work costs, Make work in construction less arduous and so more attractive, And improve work safety (construction is the most hazardous field of human activity). Particularly rapid advances in construction mechanization were made after World War II in response to the urgent need to increase construction production capacity to provide the population with housing and improve the standard of living. This was done by de-veloping the construction machine building industry and new technologies consisting of the assembly of building structures from prefabricated units. Construction mechaniza-tion covered the following kinds of work: earth work, vertical and horizontal materials transport, materials handling, assembly, and finishing work (including external and in-ternal plastering, painting, and wooden floor sanding, and element
This builds the way future generations come and can be the stepping stone for new markets. Bringing the poverty struck people up the economic ladder is done by imparting education and training them for industry requirements. The structure of training can be very old school for developing or under developed countries. To bring better experience in these places Hyundai has new frameworks for training the people out there. Hyundai can also bring these into its advantage with much appreciated corporate image which in the long run can lead to increase in sales for the company.
Construction contracts or construction contracts can take many forms. Because building a house or a commercial building is an expensive exercise, it is obviously important that you get good legal advice, whether you are the owner or the builder. When entering into a construction contract, it is very important to understand the contractual relationship between the parties involved and the lines of responsibility of the administration. The following general classifications are typical: They are mainly of several types, some of them are as follows. Traditional framework contract, multi-master contract, design and construction contract, management contract, fixed price contract, expenditure contracts plus reimbursable costs, measurement and value contracts or revaluation, contracts with objectives, complete and divisible contracts Under a traditional framework contract, the employer initially hires a designer to design the project.
Laundry progress can be monitored by texting, such as “how much time left in a cycle” or even stop the cycle. By this applying smart technology, the different types of washing cycle such as Wool and Baby Care can also be downloaded alternatively via Wi-Fi by users . The technology of Human-computer interaction is more applied on this smart
We know that the prices for the properties around MRT area will be increases and the residents need to pay high rental. Even though having properties or staying at MRT location seems convenience to those who rely on public transportation but with the noise factor and traffic congestion, residents may be no interested to buy. They want to avoid the noise pollution and traffic congestion during peak hours. As a conclusion, the concept of Mass Rapid Transit is designed to meet the requirement which can give benefits to the country and needs of Malaysian people. It is true that the Mass Rapid Transit can increase and encourage the economy, however there are some aspects that need to be reviewed carefully.
Firstly, efficiency wage theory impacts to the economics. In economics, human capital and its productivity are very important factor for the labour market. According to the efficiency wage theory, high wage increases the productivity of the workers, and finally the high productivity would help to increase the economic growth as well as increasing employment. Secondly, efficiency wage theory also have big influence in business because to decide the workers’ wages is important in management. The wise decision about the measure of wages will decide the benefits of the firm.
Cost is among the major considerations throughout the project management life cycle and can be consider as one of the most important parameters of a project and the driving force of project success. Despite the proven importance of cost it is not hard to see a construction project achieving its objectives within the anticipated cost. Cost overrun is a very frequently observed phenomenon and is almost associated with nearly all construction projects. The issue of cost overrun is more severe in developing countries where these overruns sometimes exceed 100% of the estimated cost of the project (Azhar, N., Farooqui, R. U. and Ahmed, S. M.,
SWOT-analysis Strengths Construction industry plays a significant role in development of the country. Contributes to the national gross domestic product. Contributes to the labour market (employment and increased household income). Contributes to South Africa’s economic growth. Creates growth for small businesses.
Risk in construction has been the object of attention because of time and cost over-runs associated with construction projects. Risk is inherited in all the activities of a project