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Related Experiment Videos

Construction management.

I Macpherson

    Health Estate Journal : Journal of the Institute of Hospital Engineering
    |March 9, 1993
    PubMed
    Summary
    This summary is machine-generated.

    Construction Management is a distinct professional service, separate from traditional contracting. This approach offers client benefits but involves a higher risk profile, requiring careful consideration of value versus potential risks.

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    Area of Science:

    • Construction Management
    • Procurement Methods
    • Risk Management

    Background:

    • Construction Management differs significantly from traditional procurement methods like management contracting.
    • It is increasingly recognized as a specialized professional management service, distinct from direct contracting roles.

    Purpose of the Study:

    • To differentiate Construction Management as a professional service.
    • To analyze the risk-benefit profile of Construction Management for clients.

    Main Methods:

    • Conceptual analysis of procurement systems.
    • Comparative study of management contracting and Construction Management.

    Main Results:

    • Construction Management is best understood as a 'professional management' service.

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  • This system inherently exposes clients to greater risks compared to other methods.

    • Conclusions:

    • A value judgment is necessary to weigh the benefits of Construction Management against its inherent risks.
    • Clients must assess if the advantages of this professional management service outweigh the elevated risk exposure.