Finance,measurement.procurement in construction Coursework

Finance,measurement.procurement in construction - Coursework Example on boards on the listed contractors, which will indicate the projects they have accomplished, and the experience in terms of duration of engagement in similar projects. During the invitation to bid, contractors are provided with the questionnaires to fill in information relating to business details, technical competence and ability, financial ability to accomplish the project depending on the value, environmental issues, insurance cover and previous work experience to accomplish similar scope of work. The potential contractors will fill in these details and provide information from their perspective and records as to the expected potential to accomplish the project. As the consultant for the client, I will be able to verify the information provided by the contractors after reading through their respective questionnaires. Financial position of the contracting firm will be revealed from the bank statements while the existence of the business can be found from the list of registration of such companies. Technical ability of the contracting firm is revealed by inspection of their equipment and machinery for the intended work. Representatives do the inspection from the consultants firm visiting the premises of the bidders while listed assets of the contractor can also provide such information. UEL project for L & H is to provide procurement services require high technical ability as well as financial strength. Based on these requirements, the most effective tendering procedure would be restricted tender. Capable contractors can be identified then invited to bid for the works (Amos 2004). Through this process, they will be able to find bids only from contractors with the technical ability, financial backing and previous work experience to successfully accomplish and deliver the works according to the scope of work. The construction of the subway requires technical knowledge and the necessary machine for excavation and setting of the three rail lines required as well