Onstruction Financial managemnt Construction Contract managment in Macau
A) the reference book/material/journal should be updated , you have to refer recent book/information in this disseration
B) Details of my Dissertation Proposal
1. Proposed Title
a?The Development of Construction Contract Management for Macau Construction Industry a
2. Rationale for the Study
Macau is now a rich city of the world. The prosperity is partly driven by the development of construction industry. The projects range from real estate development to infrastructure. The rapid development requires research for effective and efficient construction management. The research into construction contract management can help improve processes construction management.
According to Sternbach (1990), contract management is the management of contracts with partners, vendors and employees. These contracts can be oral or written in nature. A contract is a binding legal agreement that is enforceable in a court of law or by binding arbitration. It is an exchange of promises with a specific remedy for breach. There are complex legal implications involved for both parties when entering a contract.
There are a lot of non-local investors currently investing in Macau, as they belong to different nationalities, some of them may not have adequate information about local laws of Macau. They have difficulties in entering into contacts of local businesses. The implications of entering into contracts with non-local nationals are a dilemma for local businesses as well. A study into different contract practices can lead to a better understanding of business processes and difficulties faced in finalizing contracts.
According to Uher & Davenport(2002), effective contract management can lead to improvements in both productivity and efficiency. Many business deals go sour because of ineffective contract management. Similarly non-local business is lost by local companies because they have inefficient processes of drawing out contracts. Study of contract management practices can help us understand better ways of drawing out contracts that safeguard rights of local businessmen and do not drive away valuable business opportunities.
From the perspective of a non-local businessman research on construction contract management practices in Macau is invaluable. This can give clues into what a non-local businessman can expect and legal implications of their actions. Effective knowledge of contract management can also give non-local businessmen a head start against competitors. This dissertation will also recommend practices that should be adopted to promote effective contract management.
The aim of the research is to explore and identify the factors which contribute to for the rapid development of Macauas construction industry. A thorough review of literature and findings on the factors of the rapid development will be presented with recommendations on how to improve the implement of construction contract management in the Macau construction industry.
i?¬ To explore the background and provide an overview of the construction industry in Macau
i?¬ To identify the types of contracts commonly used in the construction industry of Macau
i?¬ To identify the procurement techniques commonly used in the construction industry of Macau.
i?¬ To evaluate the development of contracting management based on case studies and literature review
i?¬ To provide recommendations on the effective use of contracting management for future development in construction industry of Macau.
5. Proposed Research Methods
The following methodologies for obtaining the related information are going to be adopted.
i?¬ Literature review
Information regarding contract procurement and management from the following sources are to be carried out:
– Professional journals
– University publications
– Corporate reports
– University Thesis
i?¬ Questionnaire survey
A questionnaire survey will be conducted to support the literature review findings. It will be a structured questionnaire. The questionnaire will be designed to collect data on the frequency of using construction management in the construction. The questionnaire will be distributed to contracting companiesa managerial level staff. The questionnaire will help analyze problems being encountered in contract management and the report will be a tool to analyze these problems and give recommendations.
i?¬ Case Study
To provide more credibility to the findings and research, different case studies relating to the advantages and disadvantages of contract management and procurement will be considered in order to understand why better contract management is required in the construction industry of Macau.
i?¬ Analyzing the questionnaires & case study
The data extracted from the questionnaires and case study will be analyzed against the literature review. The questionnaires will be analyzed in a tabular format so that numerical evidence can be collected.
i?¬ Findings, Recommendations and Conclusion
The reasons for the development of construction contract management in Macau construction industry will be concluded on the basis of literature review supported by questionnaires and case studies. Recommendations will be given to improve development of contract management in construction industry in Macau.
6. Initial References
i?¬ Uher T. & Davenport P. (2002) a?Fundamentals of Building Contract Managementa?. UNSW Press.
i?¬ Sternbach J. (1990) a?Contract management systemsa?. NCHRP Publications.
i?¬ Armstrong W. & Wallace R. (2001) a?Case Study Boston Harbor Projecta?, Construction Management, available at PDF/malaysia/Hsu.pdf (accessed on 5 February 2010)
i?¬ Godinho Jorge (2007) a?Macau business law and legal systema?, LexisNexis, Hong Kong, available at abstract88715 (accessed on 6 February 2010)
i?¬ Eayrs James (2003) a?Macau Foreign Policy and Government Guidea?, International Business Publications, USA. ISBN: 0739764519.