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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.
The facility was built by a public–private partnership known as LAX ConRAC Partners, a consortium of 11 companies led by PCL Construction. [3] Los Angeles World Airports (LAWA), the operator of LAX, awarded the consortium a $2 billion contract, with the construction and operations phases of the facility each costing about $1 billion. [4]
A simple example of modular design in cars is the fact that, while many cars come as a basic model, paying extra will allow for "snap in" upgrades such as a more powerful engine, vehicle audio, ventilated seats, or seasonal tires; these do not require any change to other units of the car such as the chassis, steering, electric motor or battery ...
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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 ...
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 ]
A New York teenager is spreading holiday cheer in an inspiring and sustainable way this Christmas. For the fourth year running, Andrew Reid, 19, has constructed a giant dazzling holiday light ...