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With the traditional design–bid–build process, a complete set of construction documents and specifications describes what the builder agrees to build and serves as the heart of the contract. On Fast-track projects, the design, construction documents and specifications are incomplete, so setting the final cost presents problems.
LSM is used mainly in the construction industry to schedule resources in repetitive activities commonly found in highway, pipeline, high-rise building and rail construction projects. These projects are called repetitive or linear projects.
Some argue that Quick Response Manufacturing differs from Quick Response (QR) methods used in the apparel industry and the fast fashion market. QRM is a companywide management strategy applicable to a wide variety of businesses, whereas QR primarily stands for a specific business model in a particular industry. [ 3 ]
Turnaround is a blanket term that encompasses more specific terms such as I&Ts (inspection and testing), and maintenance. Turnaround can also be used as a synonym of downtime . Related terms are shutdowns, and outages [ 1 ] sometimes written as Turnarounds, Shutdowns, and Outages (TSO).
The following video is part of our "Motley Fool Conversations" series, in which technology editor/analyst Andrew Tonner and consumer goods editor/analyst Austin Smith discuss topics across the ...
Wendy's appears to be in full-blown turnaround mode. This fast food chain has undertaken a refranchising strategy similar to what Burger King did back in 2012. As part of Wendy's plan to ...
Modern methods of construction (MMC) is a term used mainly in the UK construction industry to refer to "smart construction" processes designed to improve upon traditional design and construction approaches by focusing on (among other things) component and process standardisation, design for manufacture and assembly (), prefabrication, preassembly, off-site manufacture (including modular ...
Here are a few such programs that are open to qualifying small businesses in any industry: ... with shorter turnaround windows. These grants are announced a couple of days in advance and generally ...