Procurement stage within construction contracts commonly results in having big disputes among involved parties. Unrealistic procurement durations and forced contractual terms/conditions issues may be resolved using advance calculations/statistics methods. Monte Carlo Simulation with other smart planning tools may be a good approach. When reviewed among other businesses, construction is one of the most hazards, risky and less profitable business. Associated uncertainty level could be high particularly during procurement stage. Procurement could be define as acquisition of goods and services. In construction, the terminology goes beyond this description as it can incorporate outsource services on every level throughout the scope of a defined project. Construction firms have undertaken significant and widespread change. However, scope clarity, design parameters accuracy and procurement of long-lead materials remained among the main factors that adversely affecting performance of construction contractors. In an effort to mitigate these prominent risks, I have decided to explore the applications of Monte Carlo simulation to reduce project risks, uncertainties in general and procurement of long-lead materials in particular. Monte Carlo Simulation (MCS) is a mathematical technique that produces random variables for demonstrating risk or uncertainty of a certain system. It also uses quantified data, allowing project construction managers to better justify and communicate their arguments when senior management/client is pushing for unrealistic project expectations. Research study will concentrates on quantitative analysis and risk identifications. Suggested research methodology shall include secondary data analysis from previous accomplished construction projects, mix of observations and experiments.
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently