PROJECT ECONOMICS AND LAW Coursework Example | Topics and Well Written Essays - 4000 words

PROJECT ECONOMICS AND LAW - Coursework Example In the recent past, clients are increasingly looking for project managers that are able to deliver expected results. For this reason, it is vitally important for the managers to learn from past mistakes and strive to maintain a clean record with respect to successful project implementation and management. Among the projects that have been compounded by various challenges in the national history is the Scottish parliament project. This project belonged to the Scottish government and sought to construct a magnificent building to be used by the Scottish parliament. The project was initiated in 1998 and proposed to be completed by the dawn of the new century. However, budgetary concerns and other construction related complexities delayed its timely completion. Seemingly, the project failed dismally to meet the established project indices in light of duration and cost. This had various implications on all stakeholders. It underscored major contractual weaknesses that the country is grappling with. In order to ensure efficiency in the construction industry, these concerns need to be addressed accordingly. It is against this background that this paper provides an in depth report of the mode of failure of the contract, factors that contributed to the failure and the lessons learnt from this. To enhance a harmonic consideration, it begins by profiling the conditions of the project and appraising its effect on liability for failure. It then proceeds to detailing the nature of its failure and specific factors that contributed to this. It then concludes by discussing how the NEC contract could be used to address the experienced challenges. Relative recommendations would offer useful insights regarding how future failures would be avoided. This is at the core of the objectives of project management and thus recommendations would help in preventing future incidences of failure. The

Price Analysis Essay Example | Topics and Well Written Essays - 250 words

Price Analysis - Essay Example However, among the various methods, a consumer should choose the one that suits the important facts of his purchases. If I would be allowed to select only one price analysis method throughout the course of my career, I would select the price competition method for price analysis Price Competition is the most popular and the widest used technique of price analysis. It is very handy and easy to conduct. Also, it does not involve much in depth research. All a consumer needs to do is to consider the prices quoted by several other suppliers in the market and evaluate them closely. A price competition normally exists when prices quoted by different suppliers differ by 15% (Murphy 2009). The lowest price may not always be the most reasonable price for you. There may be chances of errors in the quotation and also the quality of the good or service provided may also not be up to the required level. Also, there may be costs associated with the product to make it a better one that may have not been incurred, and thus resulting in a lower price. Hence, when using the price competition technique, it is important that the consumer demands a statement on why the quoted price has been set by the