Critically appraise two procurement routes
TASK 1 – Procurement and Tendering [30%] a) Critically appraise two procurement routes and make recommendations for the most suitable procurement strategy and contractual relationships between the proposed project team. (max: 500 words) [20%] b) Critically evaluate the tendering requirements for your recommended procurement strategy, considering various factors such as risk apportionment. (max: 250 words) [10%] TASK 2 – Estimating, Cost Planning and Price Analysis [30%] a) Prepare a cost plan and an order of cost estimate in accordance with the NRM 1 for the proposed Kai Tak business hub considering necessary factors. Make reasonable assumptions as to inclusions and exclusions which should be clearly stated. [15%] b) PEAK Limited is considering developing a similar business hub with the same specifications in Lantau Island in the 3Q 2023. Determine the proposed cost of this speculative project. Produce a supporting statement of not more than 150 words. [5%] c) Provide priced Bills of Quantities by using favourable and competitive rates and a letter justifying the pricing method and information utilised (max: 200 words). [10%] Refer to the New Rules of Measurement (NRM) 1 for the appropriate measurement rules and make logical and realistic judgements when using relevant cost data materials such as Building Cost Information Services (BCIS). TASK 3 – Project Management [40%] a) Produce a Work Breakdown Structure (WBS) for the proposed project. [10%] Your submission should: identify up to 20 activities. three levels (i.e. level 1 to 3, excluding project level) WBS Code b) Using the information from 3(a) above produce a Network Diagram and Critical Path determination. Make reasonable assumptions for the duration. [10%] Your submission should: identify the critical path by calculation of both the forward and backward pass. identify non-critical activities. calculate the total floats for each non-critical task. c) Identify and briefly discuss two potential costs that will arise if the project is completed late. Comment on who bears these costs. (Max: 200 words) [10%] d) Evaluate five importance of cash flow management on construction projects. (Max: 100 words) [10%] Note: • Task 3(a) and 3(b) should be done manually or by the use of Microsoft Office. Any use of project management software will be penalised.