|University||Singapore University of Social Science (SUSS)|
|Subject||BPM201 Construction Economics Assignment, SUSS, Singapore|
BPM201 Construction Economics Assignment, SUSS, Singapore: Sometime in 2015 the public sector overtook the private sector in the construction contract value awarded.
Refer to Table 1.1 and answer the following questions:
(a) Sometime in 2015 the public sector overtook the private sector in the construction contract value awarded. Identify and explain the sub-sector(s) that have driven these two sectors over the last ten years. Discuss why these drivers could have changed from 2015.
(b) The Building Construction Authority (BCA) suggested that the construction contract value awarded remains healthy. Identify some of the pump priming construction projects injected by the Singapore government since 2012. Evaluate if they are for pump priming and how they helped the construction industry survive.
(a) As construction is labor intensive, contractors need to hire migrant workers yet maintain cost. Discuss which two theories of wages are applicable to construction migrant workers and the weakness of your selected theories.
(b) Explain how the ‘winner’s curse’ theory is a lose-lose for constructors.
The Singapore Contractor Association Ltd published a 2015 survey as shown in Figure 3.1. In relation to the construction industry structure, evaluate what are the competitive strategies suitable for:
(a) Small construction companies.
(b) Large construction companies.
Quote from BCA.
“BCA is championing the refreshed Built Environment (BE) Industry Transformation Map (ITM) which amalgamates the previous Construction and Real Estate (Facilities Management) ITMs into a single ITM, focusing on a value-chain approach to seize opportunities for the Built Environment sector. Our vision for the Facilities Management (FM) sector is to transform the industry from a labor-intensive to productive one, towards an Integrated and Aggregated FM service model that is driven by technology adoption.”
(a) Discuss the shift in focus by BCA to incorporate Facilities Management in the transformation of the construction industry.
(b) Explain the possible hurdles to digitalizing construction
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