Construction Cost Management

A​‌‍‍‍‌‍‍‌‌‍‌‍‍‌‌‌‍‍‍‍​ssignment Scenario: You have been engaged as a cost consultant on a major scheme for the University to undertake works that involve a mixed-use innovation hub in the north of Coventry. -Under phase 1, the first scheme will provide new university facilities, offices and labs covering over 12500m2. -The second scheme involves the construction of 200 private rented sector (PRS) units across two buildings with varying heights of up to 10 storeys. The Estate Manager (EM) in charge of the project has asked you to provide a report on the procurement and tendering options for the project. The EM needs to know the most suitable procurement and tendering options available for this project and a recommendation on the most economical approach in terms o​‌‍‍‍‌‍‍‌‌‍‌‍‍‌‌‌‍‍‍‍​f value for money. 1. Write a report explaining the available options for procuring the main contractor element of the innovation hub. 2. Explain the contractual relationships relating to each potential option. (10 Marks) 3. Provide a justification for the choice of the procurement strategy and recommendation that will guarantee the best outcome for the project. (15 Marks) 4. Critically appraise how you would go about selecting the correct contractor for the project, including the process of effectively analysing tender figures. (20 Marks) 5. Critically evaluate the impact of Health and safety and risk on the overall financial outcome of the project. Make practical suggestions for measures that can be taken to mitigate these risks.(5 Marks​‌‍‍‍‌‍‍‌‌‍‌‍‍‌‌‌‍‍‍‍​)