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| economics in the construction industry: The Economics of the Construction Industry Gerald Finkel, 2015-02-24 The American construction industry, reponsible for nearly 4% of the nation's Gross Domestic Product, directly employs over five million people and provides millions of additional support jobs in related fields. This book provides an introductory overview of the economic aspects of the industry, including the historical development of building activity from earliest times to modern day market-based construction, including the work of individual artisans to complex construction unions. The book explores current trends in labor force participation; the measurement of industry performance; the determinants of investment; government involvement; competition; wage determination; training; and worker safety. |
| economics in the construction industry: The Economics of Construction Stephen L. Gruneberg, Noble Francis, 2019 The construction of housing, commercial property, and infrastructure projects--roads, bridges, tunnels, railways, airports--for both the private and public sectors is one of the biggest industries in the world. It contributes around 10 per cent of world GDP, employs 7 per cent of the global workforce, and consumes around 20 per cent of the world's energy (and generates a third of the world's CO2 emissions). So important is the contruction industry that it is widely seen as the best indicator of a national economy's health. Stephen Gruneberg and Noble Francis, two of the UK's leading construction economists, present an up-to-date analysis of the construction industry's business model and the risks and challenges the industry faces in the twenty-first century. The book explores the many distinctive features of the economics of the industry, such as how firms use cost-reduction rather than profit maximizing behavior, the processes of tendering and procurement, and the often cyclical nature of demand. Some of the issues touched on include the nature of the government-client relationship, the difference between commissioned and speculative construction development, operating as well as building infrastructure, the advantages of off-site construction, the demand for green and sustainable construction, and the competition from government-backed Chinese companies in major infrastructure projects. As well as examining industry-wide issues, the book looks at how individual projects are costed. These can range from the construction of Dubai's Yas Island or Heathrow's third runway, to the construction of a local hospital, or a residential housing estate. Finance, cash flow, cost overruns, and labor relations are all shown to be fundamental to completing a project on time and within budget, regardless of size. The book offers authoritative analysis and expert insight to provide a survey suitable for students in both business schools and departments of architecture and the built environment. |
| economics in the construction industry: The Construction Industry George Ofori, 1990 This basic text offers a comprehensive and fundamental description of the construction industry and the construction process, citing examples from several countries at various stages of development. It considers the features of the industry, describes factors influencing the demand for, and supply of construction, problems facing the industry and ways of planning for and managing its development.The book should be a basic source of information on the construction industry for undergraduate and postgraduate courses in architecture, construction management, quantity surveying, related engineering fields and estate management. It should also be of relevance to administrators of the construction industry. |
| economics in the construction industry: The Economics of the Construction Industry Gerald Finkel, 1997 Drawing on his years as a construction electrician and his academic training as a labor economist, Finkel (economics, State U. of New York) introduces the basic economic issues that surround the building industry. Among them are trends and directions in the industry, the role of government, union and nonunion productivity, competition and workplace control, determining wages, training, and safety concerns. Paper edition (unseen), $21.95. Annotation copyrighted by Book News, Inc., Portland, OR |
| economics in the construction industry: Circular Economy in the Construction Industry Sadhan Kumar Ghosh, Sannidhya Kumar Ghosh, Benu Gopal Mohapatra, Ronald L. Mersky, 2021-12-22 Circular Economy in the Construction Industry is an invaluable resource for researchers, policymakers, implementers and PhD and Masters-level students in universities analyzing the present status of Construction and Demolition Wastes (C&DW) management, materials development utilizing slag, fly ash, HDPE fibre, geo-wastes, and other wastes, green concrete, soil stabilization, resource circulation in construction sectors, success in experimentation & commercial production, future needs, and future research areas. While huge C&DW is wasted by dumping, there is potential of recycling preventing greenhouse gas (GHG) emissions and environmental pollution as well as creating business opportunities. Circularity of resources in the construction industry can contribute to a more secure, sustainable, and economically sound future through proper policy instruments, management systems, and recycling by selecting the following: Supply chain sustainability and collection of C&D Wastes, Appropriate separation and recycling technology, Enforcement of policy instruments, Productivity, quality control of recycled products and intended end use, Economic feasibility as business case, commercialization, generating employment. This book addresses most of the above issues in a lucid manner by experts in the field from different countries, which are helpful for the related stakeholders, edited by experts in the field. |
| economics in the construction industry: Construction Supply Chain Economics Kerry London, 2007-12-11 This is the first comprehensive investigation of the industrial sourcing and procurement practices throughout sixty-eight construction industry supply channels across seven major commodity sectors at all levels. London presents real-world case studies to combine theory and practice to describe the economic structural and behavioural characteristics of sectors integral to the construction industry performance. Construction Supply Chain Economics details 'everyday' experiences and procurement decisions made by people in firms in the industry related to projects as they seek out other firms to work with during the tendering stage. London creates a language that enables us to classify and understand behaviour and recognise the impact of our decisions on firms and projects within the industry. Construction Supply Chain Economics introduces a new model for mapping the construction sector of particular interest to construction management and economic researchers and to procurement decision makers, including policymakers and clients, as well as industry practitioners, such as contractors, consultants and materials suppliers. |
| economics in the construction industry: Economic Theory and the Construction Industry Patricia M. Hillebrandt, 1974 UK. Monograph on the economics of the construction industry - presents an economic analysis of supply and demand functions, types of cost relationship, pricing, competition, profits, etc., and covers relevant areas of economic theory. References. |
| economics in the construction industry: Economics for the Construction Industry R. C. Shutt, 1982 |
| economics in the construction industry: Construction Economics Danny Myers, 2004 Students across a wide range of disciplines, ranging from construction management and construction engineering through to architecture, property and surveying should find this an invaluable textbook. |
| economics in the construction industry: The Economics of the Construction Industry Geoffrey Briscoe, 1988 This is a textbook analyzing the economics of the construction industry and its relation to the UK economy as a whole. It includes an analysis of the economics of the individual company and the theory of the firm, the economics of supply and demand, the nature of construction markets and the economics of supplying these markets. An analysis of the investment decisions which determine demand then introduces the principles of cost-benefit analysis and financial control. The final chapter examines the factors which influence productivity within both the individual firm and the sector as a whole. |
| economics in the construction industry: A Strategic Approach to the UK Construction Industry Stephen Gruneberg, 2018-12-07 The construction industry is a microcosm of the economy as a whole, and as such the economics of the sector contains many of the aspects of the economy in general, albeit with fascinating and unique features. What are the implications of economic theory for the future of UK construction? How does the industry ensure innovation, quality and efficiency? What priorities might best serve the construction industry, those working in it and their customers? In seeking answers to these and other questions, the UK government has commissioned a number of reports on the construction industry including the Latham and Egan reports and more recently Construction 2025. These have invariably proposed time and cost targets for the construction industry. In this new book, Stephen Gruneberg stands in stark contrast to those reports and presents the relevant theoretical aspects of construction economics to account for the behaviour of construction firms and suggest a strategy for future growth and sustainability. He discusses the theory and data relating to the output of firms in relation to the type of firm, the market and how these firms behave as a result. The purpose of this book is to advocate the measures needed to create the kind of industry that must be fostered to ensure the quality of its output, sustainability and the fair terms and conditions of employment for its workforce. Gruneberg’s new book is essential reading for anyone wishing to understand the economic forces that determine industry outcomes and who has a stake in the success of the UK construction sector. |
| economics in the construction industry: The Construction Sector in the Asian Economies Michael Anson, Y.H. Chiang, John Raftery, 2004-08 This comprehensive and up-to-date collection of data on the Asian construction sector presents a unique guide to construction economics in the following countries: Australia, China Mainland, China Hong Kong, India, Indonesia, Japan, Korea, Malaysia, |
| economics in the construction industry: Construction Quality and the Economy Low Sui Pheng, Lau Shing Hou, 2019-01-08 This book discusses the relationship between construction quality and the state of the Singapore national economy, and describes how construction quality is affected as contracting firms strategically manage issues relating to profitability and survivability during economic boom and bust cycles. Adopting a three-pronged approach to explain the key issues, the book first explains the effect of the state of the Singapore national economy (boom or bust) on the construction quality delivered by contracting firms. Secondly, it explains how contracting firms respond to the performance of the national economy through their dynamic bidding strategies, leading to significant quality trade-offs in some instances, especially when there is imprecise market information. Thirdly, it recommends various strategic measures that key stakeholders and government policy-makers can take to circumvent the quality trade-off in the construction industry when faced with dynamic fluctuations in the performance of the national economy. Although the book focuses on Singapore, it appeals to a global audience since countries worldwide (and their respective building-related stakeholders) face the same issues in terms of the time–cost–quality trade-off decision-making process involving the entire supply chain. |
| economics in the construction industry: Rebuilding Construction (Routledge Revivals) Michael Ball, 2014-03-18 First published in 1988, this book analyses the changes that took place in the economic organisation of the British construction industry throughout the 1970s and early 1980s, in particular considering its social and economic structure and examining the causes of its poor industrial record. Michael Ball describes how the major firms survived the economic slump between 1973 and 1982 - when construction workloads collapsed - by substantially restructuring their operations, relationships with clients, workforces and subcontractors. Detailed attention is paid to construction firms, the workers they employ, the influence of trade unionism and the role of other agencies in the building process. Reissued at a particularly challenging time for the British construction industry, this relevant and practical title will be of value to students and academics of economics and social change, as well as those on courses for construction professionals. |
| economics in the construction industry: R&D Investment and Impact in the Global Construction Industry Keith Hampson, Judy A. Kraatz, Adriana X. Sanchez, 2014-06-20 R&D Investment and Impact in the Global Construction Industry brings together contributions from leading industry researchers in a diverse group of countries to investigate the role of research and development (R&D) in the construction industry. Investment in R&D is a proven factor in economic growth, and helps develop a more productive and innovative industry. This book explores how policy makers and industry leaders can better target future investment; and how industry and researchers can manage their efforts to improve productivity whilst addressing the environmental and social needs of their communities. Case studies present projects where R&D ideas funded by both the private and public sectors have been translated from research into practice or policy, and examine drivers, successes and barriers to the delivery of R&D in industry. Based on research from members of the CIB Task Group 85 (R&D Investment and Impact) and concluding with key insights for maximising the impact of R&D in the future, the book holds valuable lessons for practitioners, policy makers and researchers across the international construction industry. |
| economics in the construction industry: Improving the Performance of Construction Industries for Developing Countries Pantaleo D. Rwelamila, Abdul-Rashid Abdul-Aziz, 2020-12-21 This book documents the experiences, development, and prospects of the construction industry in numerous developing countries. It will provide a strong base of reference for countries looking to improve their construction industries as part of their wider economic development programme. The opening chapter presents a strategic overview of the contents of the book, and each country-specific chapter is structured to consider the legal and policy frameworks, administrative infrastructure and procedures, and implementation mechanisms, as well as the experiences, current activities, and future plans and programmes with respect to construction industry development in each country. The concluding chapter looks forward and considers the implications of future trends for the construction industries in developing countries and the actions which will be required to address them. Chapters cover: India, Singapore, Chile, South Africa, Tanzania, Malaysia, Botswana, Ghana, Uganda, Indonesia, China, Croatia, and Eswatini. Readers will learn about the wealth of comparable stories from global coverage from the detailed country-specific cases. Building on important scholarly works in the field, this book is essential reading for academics, researchers, and policy makers in built environments, economics, construction management, infrastructure management, and the wider construction industry. |
| economics in the construction industry: Real Estate, Construction and Economic Development in Emerging Market Economies Raymond Talinbe Abdulai, Franklin Obeng-Odoom, Edward Ochieng, Vida Maliene, 2015-10-23 Real Estate, Construction and Economic Development in Emerging Market Economies examines the relationships between real estate and construction sectors and explores how each sector, and the relationships between them, affect economic development in emerging market economies (EMEs). Throughout the book, the international team of contributors discuss topics as diverse as real estate finance and investment, housing, property development, construction project management, valuation, sustainability and corporate real estate. In doing so the book demonstrates how the relationship between construction and real estate impacts on economic development in countries such as Argentina, Brazil, Colombia, China, Ghana, Nigeria, Turkey, Lithuania, Hungary and Slovenia. Topics include: the role of real estate brokerage in improving the living standards of citizens; the effect of a mineral boom on construction cycles, real estate values and the socio-economic conditions of people in boom towns and cities; corporate real estate management practices and how they affect economic growth; and the synergies between construction and real estate and how they, in turn, affect economic development. This book will be of interest to those studying and researching real estate, construction, development studies, urban economics and emerging market economies. |
| economics in the construction industry: Waste-To-Profit (W-t-P) Linda Zikhona Linganiso, Tshwafo Elias Motaung, 2019 The concept of a circular economy in the construction sector captures global material flow through product design, inverse logistics, innovation and collaborations. The circulation of the economy takes into consideration global population influence, which affects the economy through a variety of construction product flows in particular. The increase in consumers means increasing product and services which participate in different waste streams. The emerging sustainable development in the construction industry requires the recycling of waste materials to reduce the negative environmental impact of construction activities. Accumulation and management of construction wastes is also becoming a major environmental and economical concern in many developing countries. Huge volumes of waste generated end up piled on landfill sites or illegally dumped, posing serious health and ecological problems. In the construction industry, recycling of waste concrete, masonry, cement, gypsum, to mention but a few, has become an important aspect due to the continued increase of construction wastes and depletion of natural aggregates. Why not establish a business system that is specifically designed to do much more value addition to the construction wastes and develop products which are not only in demand locally but internationally, to encourage exports for maximum financial gain. This book aims to analyze the current business model in the construction sector and the current legislation concerning waste management. It also highlights efforts required in order to refine the recycling methods in favor of a circular economy in the constuction industry. In support of a transition to a low carbon economy, different types of materials which can be produced from the construction wastes are indicated including processes which are used to obtain the final products. The market demand including penetration of the resulting products are given extensively. Policies and regulations to govern these undertakings are highlighted also. The municipalities will learn to redirect the local construction industries on how to avoid dumping at landfill sites as the space has currently become an issue. Researchers globally will learn how to go up through the Technology Readiness Levels (TRL) from basic research through prototype development and finally up to commercialization in projects related to the construction. |
| economics in the construction industry: Economic Theory and the Construction Industry Patricia M. Hillebrandt, 1985-08-29 |
| economics in the construction industry: Economics of the Construction Industry United States. Department of Labor, 1913- Information and Education Service, 1919 |
| economics in the construction industry: The Economics of the Modern Construction Sector G. Ive, S. Gruneberg, 2000-07-31 This book will be of interest to built environment professionals and to students of the economics and management of the built environment. It shows the value of integrating ideas and data about the production of the built environment as an industrial process with theories and data about the demand for construction. The approach taken is institutional and post-Keynesian, and illuminates an important and distinctive sector of the economy, embracing design, construction and property industries. This book offers some new and important perspectives for research and teaching in construction economics and management. |
| economics in the construction industry: Economic Theory and the Construction Industry P. Hillebrandt, 2000-06-21 This revised edition of an established classic textbook brings the subject right up to date. It applies economic theory to the formation of demand on the construction industry and to the way the industry responds. This edition provides a topical assessment of the implication for competition of new methods of procurement, includes a new chapter on rehabilitation, repair and maintenance, and extends the use of theory to issues such as the problems of appropriate technology for developing countries, and contractors' diversification. |
| economics in the construction industry: Construction Economics Danny Myers, 2013 Students across a wide range of disciplines, ranging from construction management and construction engineering through to architecture, property and surveying should find this an invaluable textbook. |
| economics in the construction industry: Design Economics for the Built Environment Herbert Robinson, Barry Symonds, Barry Gilbertson, Ben Ilozor, 2015-03-27 The drive towards environmentally friendly buildings and infrastructure has led to a growing interest in providing design solutions underpinned by the core principles of sustainability to balance economic, social and environmental factors. Design Economics for the Built Environment: Impact of sustainability on project evaluation presents new directions, reflecting the need to recognise the impact of climate change and the importance of sustainability in project evaluation. The aim is to provide a new approach to understanding design economics in the context of the changing policy environment, legislative and regulatory framework, and increasing economic, environmental and social pressure as result of the sustainability agenda. The book follows a structured approach from theories and principles in the earlier chapters, to the practical applications and emerging techniques focusing on value and social, economic and environmental considerations in making design decisions. It starts with the policy context, building on various theories and principles such as, capital cost, value of design and resource-based theories, the new rules of measurement (NRM) to explore cost planning, the relationship between height and costs, key socio-economic and environmental variables for design appraisal, eco-cost/value ratio (EVR), whole life theory and the treatment of carbon emission as external costs, productivity and efficiency, fiscal drivers and legal framework for carbon reduction, procurement and allocation of risks in contracts. Case studies, practical examples and frameworks throughout reinforce theories and principles and relate them to current practice. The book is essential reading for postgraduate students in architecture, building and quantity surveying and is also a valuable resource for academics, consultants and policy-makers in the built environment. |
| economics in the construction industry: Economic Theory and the Construction Industry P. Hillebrandt, 2000-06-20 This revised edition of an established classic textbook brings the subject right up to date. It applies economic theory to the formation of demand on the construction industry and to the way the industry responds. This edition provides a topical assessment of the implication for competition of new methods of procurement, includes a new chapter on rehabilitation, repair and maintenance, and extends the use of theory to issues such as the problems of appropriate technology for developing countries, and contractors' diversification. |
| economics in the construction industry: The Construction Industry Kofi Agyekum, Emmanuel Adinyira, 2022 The call for transformation in critical aspects of the operations of the global construction industry is ever more critical. This book presents a review and discussion of some of these transformation areas in a research-oriented style that the scientific community will find very useful-- |
| economics in the construction industry: Economics for the Construction Industry R. C. m.fl Shutt, 1988 |
| economics in the construction industry: Accounting for Construction Rick Best, Jim Meikle, 2019-03-27 Accounting for Construction follows on from Measuring Construction, edited by the same team. It extends the coverage of some of the material in the first volume and expands the range of related topics to include, inter alia, shadow economies, accounting for informal construction and the treatment of the built environment sector in national accounts. Taken together, the two volumes collate a range of topics that are only addressed, if addressed at all, in occasional academic papers and the publications of bodies such as national statistical offices and the World Bank. Accounting for Construction presents international examples from the UK, Australia and New Zealand and from both academic and professional contributors. This book is essential reading for all researchers and professionals interested in construction economics, construction management, and anyone interested in how the construction industry affects the global economy in ways previously under-represented in the literature. |
| economics in the construction industry: Building Economics Ivor H. Seeley, 1983 |
| economics in the construction industry: Construction Industry Advance and Change Michael Anson, Yat Hung Chiang, Patrick Lam, Jianfu Shen, 2021-11-10 Construction Industry Advance and Change: Progress in Eight Asian Economies since 1995 describes construction industry progress between 1995 and 2019, sharing information and context needed to appreciate the nature of construction industries and the factors affecting industry output performance. |
| economics in the construction industry: Building Economics: Theory and Practice Rosalie Ruegg, Harold Marshall, 2013-11-11 We no longer build buildings like we used to nor do we pay for them in the same way. Buildings today are no longer only shelter but are also life support systems, communication terminals, data manufacturing centers, and much more. Buildings are incredibly expensive tools that must be constantly adjusted to function efficiently. The economics of building has become as complex as its design. When buildings were shelter they lasted longer than their builders. The av erage gothic master mason lived 35 or 40 years. Cathedrals took 3 or 4 hundred years to build. Cost estimates were verified by great great grandchildren of the original designer. Today, creative economics has become as important as creative design and creative building. The dient brings builder, contractor, architect, and facilities manager to account in their life time. The cost of building can therefore no longer be left to chance or act of god. Solutions are no longer as ingeniously simple as those proposed by a Flor entine builder early in the 15th century. He proposed to center the dome of S. Maria deI Fiore on a great mound of earth mixed with pennies. When the job was done street urchins would carry away the dirt in their search for the pennies. This was a serious suggestion offered by an early construction manager before Brunelleschi solved the problem more sensibly. |
| economics in the construction industry: Construction Economics Danny Myers, 2013-01-17 Construction Economics provides students with the principles and concepts underlying the relationship between economic theory and the construction industry. The New Approach adopts an argument that economics is central to government initiatives concerning sustainable construction. This edition has been revised to explain the effects of the current economic crisis on the construction industry. In addition, sections relating to less developed countries, the economics of sustainable development and theories relating to a firm's bid strategy have all been rewritten. With new data, examples, initiatives, readings, glossary items and references, the third edition of this established core text builds on the strengths of the previous edition: a clear and user-friendly style use of a second colour to highlight important definitions and formulae regular summaries of key points a glossary of key terms extensive use of tables and figures extracts from the academic journal Construction Management and Economics to consolidate and prompt discussion reviews of useful websites This invaluable textbook is essential reading across a wide range of disciplines from construction management and civil engineering to architecture, property and surveying. |
| economics in the construction industry: Economics for the Modern Built Environment Les Ruddock, 2008-10-10 Recent decades have seen a major social and economic changes across the developed world and consequent changes in the construction and property industries. The discipline of construction economics needs to respond to this. For instance, the importance of sustainable development has become recognised, as has the need to increasingly master the mediu |
| economics in the construction industry: Builders Darren Thiel, 2013-05-07 Building workers constitute between five and ten per cent of the total labour market in almost every country of the world. They construct, repair and maintain the vital physical infrastructure of our societies, and we rely upon and trust their achievements every day. Yet we know surprisingly little about builders, their cultures, the organization of their work or the business relations that constitute their industry. This book, based on one-year’s participant observation on a London construction site, redresses this gap in our knowledge by taking a close-up look at a section of building workers and businessmen. By examining the organizational features of the building project and describing the skill, sweat, malingering, humour and humanity of the building workers, Thiel illustrates how the builders were mostly autonomous from formal managerial control, regulating their own outputs and labour markets. This meant that the men’s ethnic, class and gender-bound cultural activities fundamentally underpinned the organization of their work and the broader construction economy, and thereby highlights the continuing centrality of class-bound culture and social stratification in a post-industrial, late modern world. Thiel outlines the on-going connections and intersections between economy, state, class and culture, ultimately showing how these factors interrelated to produce the building industry, its builders, and its buildings. Based predominately on cultural and economic sociology, this book will also be of interest to those working in the fields of gender and organizational studies; social class and inequality; migration and ethnicity; urban studies; and social identities. |
| economics in the construction industry: Social Enterprise in the Construction Industry Martin Loosemore, Dave Higgon, 2015-08-27 Through the emerging lens of social enterprise, this book examines how the global construction industry can engage more effectively with the communities in which it builds, addressing disadvantage and environmental degradation to leave a positive legacy for future generations. Combining insights from leading research and real-life case studies of social enterprise in the construction sector, the result is a practical framework which will help social enterprises, clients, consultants and construction firms work collectively to build a thriving social enterprise sector. Readers of this timely book will learn to embrace social enterprise and an important new sector in the global construction industry. They will learn to see community involvement as an opportunity rather than a risk, and fully understand the broader role they can play in building a fairer and more sustainable society. |
| economics in the construction industry: International Construction Management Igor Martek, 2022-02-07 This book tells you everything you need to know about international construction: the companies, their markets, the types of projects they build, how they compete and operate and how it affects us all. It paints a comprehensive portrait of an overlooked global business that generates a major portion of the GDP in every developed nation. As with any mature sector, countries make efforts to export their expertise, but the competition in construction is fierce, and the risks are many. Only the leanest and meanest survive. What, then, does it take to win? Most writing on construction focuses at the project-management level or even more narrowly at the level of technical performance. This book presents the big picture; it tells you what successful international construction companies do to stay in the game and thrive. The book examines international construction through three lenses. The first is theory. The body of existing knowledge on construction is here brought together, condensed and explained. The second are the actors. The companies that lead the way in global construction are showcased, and the features that make countries desirable hosts are appraised. Finally, what is it that firms actually do? This last part delves into the various strategic approaches taken by 60 construction firms in carving out and defending an overseas market niche. The insights provide guidance on how global construction companies develop competitive advantage and stay resilient in the face of a mercurial global economy. These lessons will be of interest to the student and manager alike. |
| economics in the construction industry: BIM in the Construction Industry Hee Sung Cha, Shaohua Jiang, 2021-01-15 This book contains 19 peer-reviewed papers on the subject of BIM in the construction industry. These articles cover recent advances in the development of BIM technologies and applications in the field of architecture, engineering, and construction (AEC) industry. |
| economics in the construction industry: The Economics of the Modern Construction Firm S. Gruneberg, Graham J. Ive, 2000-08-08 This is a book about the whole diverse range of firms that are found in the construction sector, about their decision-making and the economic environments in which they operate. The authors aim to provide a new and coherent perspective on these firms and the choices they have to make - both for their managers and for all who have a stake in these firms and their industry. This book offers some new and important perspectives for research and teaching about construction firms. |
| economics in the construction industry: The Construction Chart Book , 2018 The Construction Chart Book presents the most complete data available on all facets of the U.S. construction industry: economic, demographic, employment/income, education/training, and safety and health issues. The sixth edition consists of nine sections presented in 56 topic pages containing more than 250 charts and tables. |
| economics in the construction industry: Chances and Risks in Construction Management and Economics Christian Hofstadler, Markus Kummer, 2021-06-20 The book outlines the processes of calculating and critically reviewing construction costs and times for clients and contractors in different project phases. Any project or structural analysis should yield accurate information on times, costs, and prices. The related database is more or less uncertain depending on project complexity and the circumstances of work performance. It is thus recommended to use ranges of key input parameters. This approach consistently considers uncertainties within a holistic project view, thus enhancing the plausibility and validity of specific values. Only the integration of probabilistic methods will allow for calculating and graphically representing the chance/risk ratio as a crucial project variable ultimately influencing the entire business. This book examines the systemic modeling and consideration of uncertainties when determining construction costs and times, and life-cycle costs. It contains detailed descriptions of other decision-making processes, including project preparation and planning (developer calculation, soil survey, cost estimate), work preparation (costing, pricing, construction time evaluation, resource identification, comparison of construction methods, bid analysis, contract award), and project execution (site logistics, construction method selection, construction process planning, work coordination, sourcing, determination of additional costs, trend analyses), as well as for project portfolio management as a tool relevant to all phases. |
Economics - Wikipedia
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a behavioral science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the …
Economics Defined With Types, Indicators, and Systems
Jun 28, 2024 · Economics is a branch of the social sciences focused on the production, distribution, and consumption of goods and services. Microeconomics is a type of economics that is …
Economics | Definition, History, Examples, Types, & Facts ...
May 12, 2025 · economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of …
The A to Z of economics | The Economist
In economics, a transfer is a payment of money without any goods or services being exchanged in return. Governments make transfers in the form of welfare benefits but individuals make …
What is Economics? - American Economic Association
Economics can help us answer these questions. Below, we’ve provided links to short articles that illustrate what economics is and how it connects to our everyday lives. Economics can be defined …
Economics - Wikipedia
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a behavioral science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on …
Economics Defined With Types, Indicators, and Systems
Jun 28, 2024 · Economics is a branch of the social sciences focused on the production, distribution, and consumption of goods and services. Microeconomics is a type of economics …
Economics | Definition, History, Examples, Types, & Facts ...
May 12, 2025 · economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of …
The A to Z of economics | The Economist
In economics, a transfer is a payment of money without any goods or services being exchanged in return. Governments make transfers in the form of welfare benefits but individuals make …
What is Economics? - American Economic Association
Economics can help us answer these questions. Below, we’ve provided links to short articles that illustrate what economics is and how it connects to our everyday lives. Economics can be …
