Project Procurement Models of Engineering Contracting and Relative

Abstract: As an important part of IT project procurement management, IT project procurement models have played a critical role in enhancing fund use efficiency to achieve the objectives of IT project. This paper discusses the relationship between life cycle and procurement of IT project, thus putting forward two procurement models, that is, single-stage procurement model and two-stage procurement model. The concepts, application conditions, advantages and disadvantages of these two procurement models are analyzed in detail in the paper. Comparisons between these two models are made. Moreover, the paper also conducts comparative analysis on the four sub-models of two-stage procurement model, whose demarcation points are rest on requirement analysis, preliminary design, detailed design and implementation respectively. Keywords-IT project; project procurement management; IT project procurement; procurement models

Abstract: Embarking on a construction project means taking a risk. Project risk management (PRM) provides an effective approach to improve decision making and minimise project risk. Project risks may not possess the same level of significance for different countries, markets and projects. Current research on PRM in China has been rather theoretical, addressing technology issues. Considering the current practice in the Chinese construction industry (CCl), the PRM needs understanding and support from the industry and a mature market environment. This research aims to establish PRM strategies for identifying and adopting the best practice to provide practical guidelines for the CCl, thus improving the PRM, motivating the reform of the Chinese construction market, and enabling the CCl to function in the competitive environment of globalisation. An extensive literature review and a number of case studies for construction projects in China have been conducted, addressing issues closely related to the research. A systematic analysis is employed and developed for project planning and decision making. Contractual risks are considered as the first step and catalyst for improving the PRM in the CCl. Built on the findings from the case studies and analysis, the research puts forward a framework of contractual risk management to study the concept, identification and classification of contractual risks. Contract interfaces are analysed for contractual risk management under various project procurement routes (PPRs). The potentially large improvements to the PRM and reform of the Chinese construction market from the introduction and application of innovative PPRs and their contractual conditions are addressed. Two mathematical models a probabilistic analysis model and an effective information entropy model for key contractual risks are presented. The validity and applicability of the models are demonstrated with sample data for the CCl. Detailed recommendations and guidelines for the implementation of the proposed strategies are suggested.

Abstract: As an important part of IT project procurement management, IT project procurement models have played a critical role in enhancing fund use efficiency to achieve the objectives of IT project. This paper discusses the relationship between life cycle and procurement of IT project, thus putting forward two procurement models, that is, single-stage procurement model and two-stage procurement model. The concepts, application conditions, advantages and disadvantages of these two procurement models are analyzed in detail in the paper. Comparisons between these two models are made. Moreover, the paper also conducts comparative analysis on the four sub-models of two-stage procurement model, whose demarcation points are rest on requirement analysis, preliminary design, detailed design and implementation respectively. Keywords-IT project; project procurement management; IT project procurement; procurement models

Abstract: Embarking on a construction project means taking a risk. Project risk management (PRM) provides an effective approach to improve decision making and minimise project risk. Project risks may not possess the same level of significance for different countries, markets and projects. Current research on PRM in China has been rather theoretical, addressing technology issues. Considering the current practice in the Chinese construction industry (CCl), the PRM needs understanding and support from the industry and a mature market environment. This research aims to establish PRM strategies for identifying and adopting the best practice to provide practical guidelines for the CCl, thus improving the PRM, motivating the reform of the Chinese construction market, and enabling the CCl to function in the competitive environment of globalisation. An extensive literature review and a number of case studies for construction projects in China have been conducted, addressing issues closely related to the research. A systematic analysis is employed and developed for project planning and decision making. Contractual risks are considered as the first step and catalyst for improving the PRM in the CCl. Built on the findings from the case studies and analysis, the research puts forward a framework of contractual risk management to study the concept, identification and classification of contractual risks. Contract interfaces are analysed for contractual risk management under various project procurement routes (PPRs). The potentially large improvements to the PRM and reform of the Chinese construction market from the introduction and application of innovative PPRs and their contractual conditions are addressed. Two mathematical models a probabilistic analysis model and an effective information entropy model for key contractual risks are presented. The validity and applicability of the models are demonstrated with sample data for the CCl. Detailed recommendations and guidelines for the implementation of the proposed strategies are suggested.