Wednesday, April 3, 2019
Economical Aspects of Architectural Design
Economical Aspects of Architectural chassisBasics of Project ManagementContents (Jump to)a) Describe and apologize the discrimination amid signifi advi stipulate echtm and another(prenominal) assets / economic goods (e.g. cracking products).b) go past at to the lowest degree three reasons why a guest stigma an devoteiture in real country.c) In line with the scenario, dip and explicate each(prenominal) of the following- the reasons for the lymph gland to appoint a Project passenger vehicle, referring to a least fiver (5) nodes tasksd) The kind/type of skills a Project Manager should form, and beg off why s/he should be generalist in spite of appearance a clients organization.e) number, explain and moot the major aspects/char bringeristics, to optimize the investment represent and subsequent (follow-up) costs deep down the design down the stairs constant consideration of the intended purpose. Also explain the basic interrelatedness between investment cost and subsequent cost.As the instructed check private instructor for an blank space building, you ar universe asked to analyse the house decorators design concerning economical aspects, by answering all the tasks in this brief.Task 1.1a) Describe and explain the difference between real estate and other assets / economic goods (e.g. capital products).In mark to know the differences between real estate and m atomic number 53tary assets, angiotensin-converting enzyme must first earn what these assets are. First and foremost, real estate is all of the value-generating properties and commodities owned by the client, being physical items much(prenominal) as bucks and buildings on which you usher out put a special value on. much(prenominal) value is determined by variant factors like the location, functionality and cost. Meanwhile, financial assets are all those transactional instruments which can be reborn into cash. In fact, such assets can be in the form of plenty receiv qualifieds, shares or bonds and are make to represent an belowlying value or percentage of the real estate. The difference between the two, is that such financial assets are more liquid when compared with real estate since they can be advantageously converted into cash. In fact, financial assets such as stocks can be easily sold inside a matter of hours while real estate normally takes months to sell. Another difference between the two, is that the actual home may experience depreciation through the years while financial assets may generate more cash flow due to unvarying growth over the years. Needless to say, one must keep that in real estate the client would own the actual land, a land component which volition have an infinite life metre. Also, financial assets may be possessed of a greater risk since the investment being done cant be physically seen or studied. Finally, one must alike keep in mind that the economic cycle is al commissions changing by time (as seen in t he image below) and therefore if such investment is to be done, the client must have an idea of the economys situation in the near future.http//smallbusiness.chron.com/financial-vs-real-asset-79865.htmlhttp//www.gulfbase.com/InvestmentTutorial/Section?id=24https//books.google.com.mt/books?id=ciJwGJfjHGkCpg=PA739lpg=PA739dq=real+estate+versus+financial+assetssource=blots=rJtkg_kdgksig=D5u9lFi7MdLceg06jRKJrKMja7chl=ensa=Xei=RMCGVIXxGMz5UKOtgsgDved=0CEEQ6AEwBQv=onepageq=real%20estate%20versus%20financial%20assetsf= bogushttp//pages.stern.nyu.edu/adamodar/pdfiles/valn2ed/ch26.pdfb) Give at least three reasons why a client bushels an investment in real estate.There are various reasons why a client should invest in real estate. These three main reasons areRentalsuch(prenominal) procedure is considered to be an old practice which is still commonly utilise nowadays, were the client buys a property and rent it out to a tenant/s. In fact, in such organisation the client/landlord is respon sible to adjudge such property in a condition and chequer that all taxes and other fees are alike paid by this individual. On the other hand, the landlord lead then request the tenant to pay a specific fee to cover all of the cost for maintenance and accommodation. Usually, when the mortgage of such property has been paid, the consequent rents will become a remuneration to the client. vocationUnlike the rental procedure, trading involves the buying of property with the intention of retentiveness them for a short period before sell them in ordination to take a shit profit. Especially when it comes to undervalued properties, a prospective client can make a substantial amount of profit for a low capital investment especially when renovation are done.DevelopAlthough the previously mentioned reasons can offer a reason equal to(p) profit to the client, one must not forget that once an investment is done on a real estate it can offer multiple possibilities to develop such property. so it is very important that when a client is buying a property, one makes sure that such investment can offer such profit possibilities in the future.http//www.investopedia.com/articles/pf/06/realestateinvest.asphttp//realestate.about.com/od/realestateinvesting/qt/why_invest.htmhttp//www.yourinvestmentpropertymag.com.au/buying-property/35-reasons-to-invest-in-real-estate-120946.aspxTask 1.2a) In line with the scenario, List and explain all of the following- the reasons for the client to appoint a Project Manager, referring to a least five (5) clients tasks (200 words)In assure to have an optimum use building, one must have a junto of a specific target definition, adequate planning and professional movement from a team having an expert understanding. If adequate planning is used within the timeframe of the occasion building, it can reduce losses while also rescue from the overall cost and time. In fact, such client tasks may intromitSchedule MonitoringQuality AssuranceDeci sion making greet MonitoringPermit compatibilityAlthough these are only few of the tasks that fall under nominate charge, for this reason a project music director is appointed on behalf of the client. Such appointment must be done in order to have an individual which can make decisions and report back to the client. Since the office building may require a substantial amount of time to manage, a team of project management must be set up in order to realise the clients concept. indoors the office building the project manager will handle the mentioned client tasks like monitoring of schedule to ensure the deadline date is met, monitor cost to keep in line with the budget, conduct quality assurance to make sure they are within the agreed specifications and also support the client in the remaining tasks. Such procedure must be done to reduce the load or handle those which cannot be delegated by the client.slide 68- understand with relation to time cost and quality.https//books.google. com.mt/books?id=BNVOAaPw6qMCpg=PA106lpg=PA106dq=why+should+a+client+appoint+a+project+managersource=blots=sCklzzM8IWsig=lVnUwtNFt38m1VYKXjYzFwdm0S0hl=ensa=Xei=ahqIVNr7GMnsO8yJgfgDved=0CCgQ6AEwAAv=onepageq=why%20should%20a%20client%20appoint%20a%20project%20managerf=falsehttps//books.google.com.mt/books?id=7Tif1JpevVwCpg=PA7dq=why+should+a+client+appoint+a+project+managerhl=ensa=Xei=ih6IVNWoKIG5OMn_gKgHved=0CCUQ6AEwAQv=onepageq=why%20should%20a%20client%20appoint%20a%20project%20managerf=false*b) The kind/type of skills a Project Manager should have, and explain why s/he should be generalist within a clients organization. (200 words)As the project manager of the office building, it is important to have a number of skills that ensures one can be comfortable with the specific project type and responsibilities associated with it. Such responsibilities may hold process organisation, target definition, planning process and construction implementation. The project manager has to be able t o give the best advice to the client, while building a healthy communication with the architects and specialists found within the project. Furthermore, by clearly delimitate the Target Definition, the project manager will ensure that all phases are done one after the other in the smoothest way possible. More importantly, the project manager must be also a generalist within the clients organization in order to handle both the stages of the project and participants involved. A generalist project manager, will have enough experience to know that when involving participants at the early stages of the project they will put their knowhow and transmit their information to achieve a go overall outcome. Furthermore, such project manager will be able to look into the various project processes and create specific management functions in order to integrate the planners objectives with the demand of the executing companies. throw WHETHER TO ADD SPECIALISTShttps//www.linkedin.com/groups/Project -Manager-Specialist-Generalist-37888.S.204373857think about cost implicationremember the balcony diversity in midi projectTask 1.3c) In line with the scenario, List and explain the differences between line and staff functions (Project Leadership and Project Controlling) within different project management functions, giving at least five (5) examples concerning clients tasks.http//www.ukessays.com/essays/construction/commercial-real-estate-residential-real-estate-construction-essay.phpDuring the project leadership and project dogmatic of the said office building, one can decide to choose each line or staff function.Line FunctionIn this system, the class-conscious structure starts with the client and continuous with the other participants involved within the project. Since our office building is relatively complex, the client may not be able to manage all tasks and so, by assigning a project manager he will be responsible to handle the various clients tasks. This will give a good idea of the projects management requirements since they can directly impact the outcome of the project. Such clients tasks areProject OrganisationEnsure permission compatibilityProcesses executionEnforcementEnsure project financingSuch procedure, may also be adopted when the clients does not have a certain management knowhow. In such cases the engaged project manager will act as a Temporary CEO and represent the client in various managerial functions especially when it comes to the control of planner and executing entities.However, one must keep in mind that the project manager will still report to the clients request.Staff FunctionOn the other hand, within a staff function the client no longer has the ability to act as the primary deciding subroutine but now he has to report to the projects consultants. This system gives the client the responsibility to control this project (office building), however constant report must be made with the project manager. Add sometingTask 1.4d) L ist and explain the differences between transferable and non-transferable clients tasks. (400 words)In hulking scale projectTransferable tasksNon-transferable taskse) List, explain and debate the major aspects/characteristics, to optimize the investment cost and subsequent (follow-up) costs within the design under constant consideration of the intended purpose. Also explain the basic interrelation between investment cost and subsequent cost. (500 words)One must ensure that the design of the scenario matches the concepts and sketchesMake sure that the concept has been followed to ensure that the agreed sign concept is after all met.Any providence done at design stage one must see a saving at a later post-commission.