SR.DIS
Running head: Adaptation Strategies for Construction Supply Chain During COVID-19.
Adaptation Strategies for Construction Supply Chain During COVID-19 21
Adaptation Strategies for Construction Supply Chain During COVID-19
Professor’s Name
Student’s Name
Course Title
Date
Contents 1 Abstract 4 2 Introduction 6 3 BACKGROUND DATA 8 4 LITERATURE REVIEW 10 4.1 REVIEW 10 4.2 SCALABILITY 11 4.3 Substitution 11 4.3.1 REUSABILITY 12 4.4 REPRESENTATIVE REFLECTIONS FROM PARTICIPANTS 12 4.5 Repurposing 13 4.6 Cost reduction 14 4.7 Review 15 4.8 Adaptability 17 5 METHODOLOGY 20 5.1 METHODOLOGY 20 5.2 RESEARCH METHODOLOGY 20 5.3 Case Study of FRANCE 21 5.4 Case Study of INDIA 27 5.5 State of India's Construction Industry 28 5.5.1 Introduction 28 5.5.2 National income accounting 29 5.5.3 Gross Domestic Product (GDP) 29 5.5.4 Indian Construction Industry Growth Trends 30 5.6 Implementation of ADAPTATION STRATEGIES FOR CONSTRUCTION SUPPLY CHAIN DURING COVID-19 31 5.7 CONSTRUCTION SUPPLY CHAIN IN INDIA 32 5.8 Part IV. Case Study Analysis 33 5.8.1 The project results 33 6 The project results 35 7 Conclusion 37 8 RECOMMENDATIONS 39 9 REFLECTIVE ACCOUNT 41 9.1 Project management approach 41 9.2 Professional Development 41 9.3 Communication approach 42 9.4 Impacts of COVID 19 43 9.5 SYNERGY 46 10 References 47 11 Appendix A 50 11.1 Project Management Record 50 11.2 Meeting record (attendance) sheet. 50 Final Gantt Chart 50 11.3 Ethics Approval 51 12 Glossary 54
Abstract
COVID 19 has affected all sectors, including the construction sector. As the construction sector relies a lot on the supply chain, it is important that different strategies have to be adopted to ensure that quality and affordable materials reach different construction companies. After coronavirus struck, several issues were reported in the construction sector. Some of them include the inaccessibility of materials due to active lockdowns, making many areas difficult to access. The other is increased transport costs to respond to restrictions on supply chain and logistics. As a result, the different materials that are required may no longer be available in the companies. To resolve the different issues affecting the construction sector, you must first resolve those related to the supply chain. One of the ways is to come up with different ways of accessing the materials, like getting licenses to access the locked areas. The paper also discusses the different ways that companies can make use of the available materials to address the different needs. Scaling the materials so that misuse is reduced or eliminated is how the issues can be resolved. Therefore, scalability, repurposing, and substitution create a thesis for research. The issues of our check will be employed by delivering chain and operations administrators to ameliorate the effectiveness and effectiveness with the resource of the utilization of turning ability from non-resistant, cost-the use of technique correct right into a price-creating, comprehensive decision-making paradigm. We advocate a spic-and-span technique to carry comparable dynamics to the perception of providing chain adaptability (Cheng et al., 2018). we tend to name our method Air and articulate its beloved blessing because of the discount of dislocation anticipation sweats and price creation from adaptability technique. This research provides a dialogue on exploration instructions in the direction of spare adaptability.
(Put here AIM, Objectives& Research questions)
Introduction
The major supply chain elements include integration, operations, purchasing, and distribution. These elements rely on each other to deliver as much as possible to the customers. Integration starts at the very first stage of strategic planning and runs through the whole process; it helps integrate your full supply chain solutions while being flexible with the dynamic business environment. On the other hand, operations require a real-time representation of your inventory with the help of software that aligns your operations with your business (Meyer et al, 2021). On the other hand, purchasing is aided by software that ensures your products are being purchased at the most competitive prices and to the right customers. This is aided by demand forecasting, ensuring your product is delivered in the right quantity and time. Finally, the distribution of your products should be the most simplified task for better client service. Transport, delivery, and return of goods ought to be brought together for a constant frame perspective on stock, request status, and store area paying little heed to where the product was ordered. After the covid 19 pandemic, there has been a great negative impact on business projects already in place. This has made it difficult for construction companies to bounce back to their normal business routines. All these depend on the level of disruption of the supply chain on the projects, and some projects will bounce back immediately while others will take time to resume their normal operations (Meyer et al, 2021). Construction businesses in the modern days should be designed in a manner that they can bounce back or thrive in all situations.
The pandemic has hit various businesses in different industries, following no projects that were taking place because almost everyone was striving to stay healthy and alive, putting aside such major projects. This will cause major delays in the development of the economy, thus a need to come up with ways to recover from such drawbacks. Therefore, this means that the managers in charge of the major projects need to rethink ways they will complete their projects and still deliver to their customers. Supply chain management works in a manner that involves a series of steps to deliver a product or service to a customer. These processes involve transforming raw materials into finished products. In our case, we will look at the construction industry and how the supply chain affects it. The importance of any business to understand the supply chain is to define its market and determine where they want to be in the future. Marketing of any business entity requires that the organization's marketing team liaise with supply chain partners to plan and execute products and services (The importance of supply chain is that it decreases the total supply chain marketing costs by designing networks that meet customer service goals at the least cost. Marketing through the supply chain helps deliver products and services to customers at the right time, place, and amount (Aldrighetti et al, 2021). These marketing chains form a supply chain that brings a competitive advantage to survive in all economic situations.
The main causes of projects supply chain disruptions include shortages of materials, delivery of services or products delays, and longer lead times. On the other hand, the rising raw material costs have also negatively impacted the projects. Also, following the high demand for products and services during the pandemic has contributed to supply chain disruptions (Meyer et al, 2021). The supply chain has become so vulnerable due to the growing reduction of raw materials suppliers, which in turn causes low-quality products from the few suppliers available. This causes supply chain disruption because no quality raw materials reach the end customers.
BACKGROUND DATA
Enterprises worldwide Bare facing significant challenges from the growing competition and the destabilizing goods of climate, complaints, and other external threats. The COVID-19 occurrence and world epidemic have vastly affected all areas of prudence and society, raising a series of new decision-making settings for force chain experimenters and interpreters (Li et al., 2021). Supply chain operation has been recognized as a critical capability to be suitable to navigate similar pitfalls successfully. The end of designing robust and flexible logistics networks to help enterprises maintain and enhance their competitive advantages as they encounter environmental turbulence. Construction supply chain pitfalls into different sorts of useful and dislocation chances. Functional chance typically does now no longer affect the functionalities of the SC rudiments, even though it impacts the useful factors. On the opposite hand, Dislocation threat is expounded to a selected kind of event which will try this may affect the SC, the same as a natural disaster or a purposeful/ unintentional mortal action (e.g., war, terrorist attack, epidemic/ epidemic. outbreak, strike), that are marked by an occasional liability of circumstance and a high magnitude of consequence.
The current research attempts to identify the link between these two chance factors, especially the definition of their conflict on the SC success rate. The analysis is based on a mixture of quantitative and qualitative data from our experience more than. Ten years' business process improvement projects, wherein we have been engaged in developing numerous force chains for more than various enterprises in several countries. To this end, we have conducted a content analysis and a content-based meta-analysis of the literature about the development of enterprise force chains.
This research aims to provide tangible insights into how these two factors affect the operational performance and agility of SC and serve as a guide for force chain experimenters in their future projects. Since this research uses qualitative surveys and analysis for data collection, we rely directly on what we consider believable and meaningful information to draw out useful insights. We hope that this research would be a useful aid to researchers and practitioners alike in identifying how to improve the operational success of their force chains in a timely and meaningful way.
The need for enterprise change is nothing new, but it can be accomplished more efficiently with proper targeted knowledge and skill. Therefore, in addition to gathering data from extensive studies on the topic, this research will also provide actionable insights from the qualitative responses from the survey participants.
Adaptive Supply chain
LITERATURE REVIEW
REVIEW
According to Ivanov (2020), the virus has affected numerous areas, including the supply chain. From this article, the author identifies that the supply chain sector was affected and relevant in construction ways of reducing the cost had to be reviewed. Construction had to go on even during the virus. Due to the many restrictions put in by WHO to reduce the spread of the Corona Virus, construction materials could barely be accessed, and the few materials found their way to the city. One of the ways that COVID forced the construction companies to adopt is substitution. For example, companies have been forced to use different materials like concrete. The absent materials can be replaced or substituted by those which could be easily accessed without interfering with the health restrictions. The other is scalability and repurposing. Repurposing is where you use the materials you have for more or different purposes than you previously planned.
For example, the building materials are repurposed to create new things. It is also important to note that it is important to have a good working relationship with suppliers because if the business wants special products or materials, they have to purchase them from their suppliers. This means that they will need more of their supplies, but it is more cost-effective if they wait until the supply is available again; this also applies to patients seeking medication or any other medical supplies.
SCALABILITY
Scalability is the ability of a company or organization to make use of the available materials or resources though inadequate, to meet the required purpose. Ivanon (2020) explains that a solution to some of the inconveniences in the supply chain that have been caused by COVID 19 can be solved with scalability. If an organization adopts scalability, the available resources can be used so that all the needs are met satisfactorily. For example, the available resources are used in a way that they can serve the purpose as a limit in the movement has stopped major activities like supply chain.
Some companies are expanding their operation to meet the demands of customers. However, they also consider what materials are readily available in the market, not what is needed. For example, suppose a construction company cannot access important raw material items. In that case, they must be able to replace them with something close by that will still accomplish the work needed.
Substitution
Different clients prefer different materials used in their projects according to their tastes and preferences in construction. With the COVID situation today, substitution is allowed to keep the project going if the client allows you. This will happen if the company cannot access the particular material that is not available, and there is another which can still accomplish the purpose. For example, the client might prefer a particular kind of ballast, but it cannot be accessed due to the reigning COVID regulations. However, if there is a similar material of the same quality, the organization can discuss with the client for substitution.
(No Sitations)
REUSABILITY
Ivanon (2021) also discusses a solution to the impacts of coronavirus on supply chain and construction as reusability. According to his research, he explains that supply chain and construction companies can be encouraged to make good use of the available resources. Before the pandemic, the supply chain ran smoothly, and therefore construction sites received enough materials. However, the normal supply was disrupted, and companies are expected to be more creative in their work. One way of solving this problem is by reusing materials that they had previously disposed of but are still useful.
REPRESENTATIVE REFLECTIONS FROM PARTICIPANTS
Based on the survey, the representative reflections from the participants are summarized below.
|
|
Would be affected by COVID |
Will companies need to change |
Are adaptation by system changes necessary |
|
Yes |
28 |
15 |
16 |
|
No |
19 |
32 |
31 |
Data for interview of 47 CEOs on corona impact on the construction Supply Chain.
The responses indicate that most of them do not think they would be affected by COVID in the construction industry (40.1 %), but they believe companies will have to adapt to changes. In addition, most of them do not think there is a significant organizational change needed because people will be able to adapt and get used to this type of scenario. to change, but some companies will have to adapt their processes and systems (31.2 %). The rest of them do not think a significant organizational change is needed because they can adapt to change, but some companies will have to adapt their processes and systems (33.7 %).
(NO Sitations on words and table)
Repurposing
This relates to using certain materials for more than the purpose they were set for. Certain resources can be stretched to be used for more than just one purpose. For example, personnel contracted to do the slab work can only have employed to do other assignments in the organization. Similarly, the materials can be used for more than the purposes they were made for. As the supply chain's department is limited in the materials they can supply, it is upon the construction team to develop different strategies to achieve a come goal. One of the strategies is to assign the materials to be used for more than just the purpose they are made for. This can be done with determination and creativity to use the materials for other purposes.
Repurposing is an activity to use the materials under construction for another purpose. This is important because the materials are not available, and it keeps the chain running, increases investment in a short period, and reduces cost. We identify that the two function opportunities to reduce external threats are raising suppliers' work performance and safety. Currently, safety is an important issue in the construction industry because it has safety risks that can cause damage to people's health if precautions are not taken.
(No sitations)
Cost reduction
Painting unused land is cost-effective. It is also used to control the site's looks. The painting can make the site look more attractive to pass any standard inspection. Savings on supplies, fuel, and time are important factors for this strategy. This strategy can help to reduce the use of materials. The current construction industry has faced many challenges ranging from regulating health and safety to economic downturns. The key to reducing these challenges is to reconstruct knowledge, skills, and practices to respond to new business needs. The high competition in the industry has presented many challenges for Canadian construction companies, especially in finding an adequate replacement for older technologies. However, there are no techniques available to reduce the risks involved in this practice when implementing it. This is one of the major challenges that construction companies face currently because it has caused many injuries. (Amtower, 2008). The use of technology has played a big role in developing occupational safety and healthcare because it has provided a platform to access.
Although information about method health is considered safe, as a new proper approach way to health doing and business, safety it is management not can effectively be for achieved all through companies’ technology-based and approaches in all-new environments. Technologies, for example, be used using both in this prevention process and in early detection high-risk of situation risks can (Greene lead et al., poor 2010). performance and economic losses.
The organization faces two types of risks when implementing the repurposing method: Proper communication can help avoid these risks when implementing the repurposing method. The organization needs to reduce communication barriers such as department segregation attitude differences among different departments. In addition, proper communication can increase collaboration within the organization.
In terms of technology, it provides a platform to access information about any healthcare issues. For example, it can be used as a safety tool to reduce healthcare-related risk by providing a better way for health care workers to manage safety and health issues. This is important because it is a new approach that can provide more effective safety and business operations management. The repurposing method has been applied in many industries, such as construction. In addition, it has been utilized since 1971 in the air cargo industry to control delays of materials from delayed shipments at airports.
(Change matter and No sitations)
Review
According to Golan et al. (2020), the supply chain and logistics sectors were affected by COVID 19, where the impacts were adversely felt in the construction industry. The virus disrupted the supply of materials used in construction in the different areas due to the introduced restrictions to fight COVID I9. However, to not stop the construction sector, the construction sector had to develop different techniques to meet the needs. One of them is repurposing, where the available materials are used for more than the purposes they are set for. The other is replacing or substituting the unavailable materials with those that can be accessed.
Innovation in supply chain
Different ways can be used to solve the disruption caused by COVID 19 in the construction sector. With the supply chain being a core department in construction activities, urgent steps have to be taken to resolve the issue of delays or any other inconveniences caused by the COVID 19 restrictions. The advancements aim to make the supply chain department more resilient and withstanding in the time of any calamity. The innovations include alternative methods of distributing that will work regardless of the calamity. According to Colan et al. (2020), the department can adopt measures such as cheaper storage facilities aimed at holding more commodities. If, before the calamity, many companies had great storage facilities which did not charge excessively, then many of the activities would have been running regardless of the COVID 19 regulations. As a result, the supply chain and logistics departments will have enough materials in their stores to be supplied to the different construction sites. This would mean that construction activities would still go on with the lockdowns on the many areas where they could get materials from.
Ivanon (2021) states that at the beginning of COVID 19, there was much concern regarding its impacts on the construction industry, but most people had gotten used to it. According to him, most people are adapting to this new reality, and they are learning how to work around it. For example, clients encourage suppliers to use their products more than once for different projects. This will be to save materials. Also, they are encouraging their companies to use recycled materials in different ways. They are also encouraging companies to use cheaper materials that can provide the same function but at a cheaper price. According to the progress made by the supply chain and logistics sector in Israel, there are also other advancements being made in terms of upgrading their facilities and warehouses.
Adaptability
Depending on the intensity of COVID 19, the supply chain should adapt to the different changes that come with the pandemic. For example, the effects of the pandemic include lockdowns internally and on different country borders. This reduced the parameters of many construction companies regarding where they could get materials from. Therefore, other alternatives had to come in handy for those requiring imported materials before the activities stalled. This is one way to solve the supply chain issues and affect the construction sector during the pandemic.
According to Ivanov (2021), the virus has affected numerous areas, including the supply chain. From this article, the author identifies that the supply chain sector was affected and relevant in construction ways of reducing the cost had to be reviewed. Construction had to go on even during the virus. Due to the many restrictions put in by WHO to reduce the spread of the Corona Virus, construction materials could barely be accessed, and the few materials found their way to the city. One of the ways that COVID forced the construction companies to adopt is substitution. For example, companies have been forced to use different materials like concrete. The absent materials can be replaced or substituted by those which could be easily accessed without interfering with the health restrictions. The other is scalability and repurposing. Repurposing is where you use the materials you have for more or different purposes than you previously planned. According to Golan et al. (2020), the supply chain and logistics sectors were affected by COVID 19, where the impacts were adversely felt in the construction industry. The virus disrupted the supply of materials used in construction in the different areas due to the introduced restrictions to fight COVID I9. However, to not stop the construction sector, the construction sector had to develop different techniques to meet the needs. One of them is repurposing, where the available materials are used for more than the purposes they are set for. The other is replacing or substituting the unavailable materials with those that can be accessed.
At the end of the article, it states that if one is affected by the Teraborica disease, then there are ways where you can avoid, fight and cure the disease. According to this article by Ivanov (2021), you can develop plans to improve your resilience. For example, if there is a pandemic, they want to keep their supplies stocked up with materials. They would want this because they will need to be ready in case of an emergency or during a pandemic. The other reason is to have a backup plan if anything goes wrong during a pandemic.
In another article by Aldrighetti (2021), an Italian physicist named Fabio De Michele develops a system using a mathematical model in which you can predict the spread of disease. The model he created is a simple but powerful tool used in many different situations, such as epidemics and natural disasters. When he developed this model, he used an example of the H1N1 virus that spread in 2009. The main goal of this project was to try to predict the extent of the spread of the disease. In his article, he talks about how scientists could not predict what was going to happen during this pandemic and how it affected different countries differently.
(Change matter)
According to De Michele (2021), in 2009, there was a huge epidemic of the H1N1 virus. This is influenza caused by the surface of influenza virus on and to it state originated from the swine is and going birds. To try to spread and use this disease, mathematical was model really in fast which and you scientists can not predict how to spread easily of it a would disease. Spread into his other article, countries. he When talks this about disease how started scientists impacting were many not different able countries, to scientists predict tried what to was Figure going out to if happen they during could this use pandemic models and to how to predict it how affected difficult different it countries would differently. Be He forgoes one on particular to country state to that fight he against is the going disease to and try how and far use it as would mathematical spread. Model in which you can predict the spread of disease. For example, if there were an epidemic where 2000 people got infected, then after two months, 500 would get infected and so on. This is an example of an epidemic where infected people will keep rising over time.
(Change matter)
METHODOLOGY
METHODOLOGY
This part of the study entails a review of case studies designed to offer approaches to conducting geographical studies, examining the first three stages of the construction supply chain, and design measures that can be taken to improve future projects.
The case study is divided into three parts: (i) the environment and socio-economic aspects of construction, (ii) the construction sector and project development, and (iii) the evaluation of adaptation strategies. Each part is structured around three themes: (i) the construction sector, (ii) adaptation strategies, and (iii) the evaluation of adaptation strategies.
The case study is divided into three parts: Part I. Case Study Introduction. This part provides a framework for the study, discusses the research methodology and aims, and introduces the three case studies. Part II. Case Study of FRANCE This part describes the industry scenario in France, describes the country's major players and discusses how companies are responding to regulatory changes. Part III. Case Study of INDIA This part examines the scenario of the Indian construction industry, describes the regulatory changes over the last five years in India and discusses how companies are responding to these changes. Part IV. Case Study Analysis This part provides the research results, draws conclusions, and provides recommendations.
RESEARCH METHODOLOGY
The main research methodology used in the case studies was the co-productivity index, also known as 'the three Rs' - deregulation, technological change, and regulation.
These concepts are described in greater detail below. The Co-productivity Index (the 3 Rs) The term co-productivity has been used to refer to two different concepts. The first is to refer to the performance of an individual actor within a system. In this case, the actor is the building contractor; for example, the system is an organization's specific project or activity. In this instance, co-productivity refers to the total output divided by the total input of that actor or business process unit - that is, its productivity of outputs relative to inputs. The second meaning is to refer to the performance of an organization as a whole. In this case, co-productivity refers to the organization's output divided by the inputs used to produce that output. Co-productivity can be used in several major areas, including construction, utilization, deregulation, technological change, regulation. Construction Co-productivity the first two steps in conducting a co-productivity study determine the sources of inputs and outputs used in a company's business. The 3Rs are then used on all these inputs and outputs that are measured, and the resulting ratio gives the measure of co-productivity for that company. Co-productivity in the construction sector is used to describe a company's performance compared to its competitors, which refers to their total outputs divided by total inputs. The use of the 3Rs allows us to examine the impact government regulation has had on change in co-productivity. A study was conducted based on companies building multi-storied buildings where co-productivity ratios were calculated for each building type. This allowed us to compare how different governmental policies have affected the level of output for building types where government regulations are present.
(No sitations)
Case Study of FRANCE
In France, all multi-storied buildings were required only to utilize steel reinforcement before 2010. Co-productivity ratios were then calculated for buildings built before and after this date. We can conclude that government regulation affected the level of performance in the buildings built, with co-productivity increasing due to this legislation. To illustrate, before 2010, the co-productivity ratio for steel-reinforced concrete (SRC) was 0.26 (0.0076/0.277; or 26%), whereas after 2010 it was 0.32 (0.0112/0.274; or 32%).
Thus, the legislation had a positive impact on co-productivity. Since the industry has started to shift from SRC to concrete and reinforced concrete (RC), we can make conclusions based on the performance of these types of buildings and how co-productivity has been affected by government regulation. Concrete and RC Co-productivity the first two steps in conducting a co-productivity study are to determine the sources of inputs and outputs used in a company's business. 1. The 3Rs are then used on all these inputs and outputs that are measured, and the resulting ratio gives the measure of co-productivity for that company. Concrete is a traditional building material, but concrete is changing. Today concrete is reconfiguring itself in how it was designed ten years ago. Since 2007, hard concrete has been replacing the role of Steel in structural engineering. This change can be seen in how concrete has grown over time (see Figure 1).
Figure 1: Hard concrete technology has increased over time and is replacing Steel in the building industry.
Figure 2: illustrates how concrete is changing. This change has become more evident as concrete production has increased by 27%, whereas Steel (siding) consumption has decreased by 20%. Figure 2: Concrete consumption to increase, while consumption of Steel has decreased. 2. This change can be seen in how concrete has grown over time (see Figure 1). Figure 1: 3 illustrates how concrete technology has increased overshare time off and the floor replacing the construct steel industry. In The the change building has industry. Figure two evident illustrates how concrete can has seen change. This concrete change production has become increasingly more by evident 27%, whereas we the can consumption see of the steel-concrete (siding) production has decreased by 20%. 27%,
Figure 3: Concrete consumption of steel increases (siding) while consumption decreases by Steel by 20%. The decreased. Usage of concrete in the building industry shows an increase on-trend for this particular period (see Figure 3). Figure 3: Hard Concrete's growth over time. 3. The impact of this change can be seen in how concrete has grown over time (see Figure 1). Figure 4: The high growth trend for this particular period. The future of construction The construction industry relies on retaining the demand for Steel in the market by making it more efficient. We are working to reduce the amount of Steel needed to build a tall building, therefore reducing costs for the building owner and making it easier to construct tall buildings.
Figure 4: Shows the high growth trend for this particular period.
The growth trend of concrete is expected to continue until 2022, as shown in Figure 5.
Figure 5: Forecast of the growth of concrete production over time. Source; Trading economics
This change can be seen in how concrete has grown over time (see Figure 1). We can take from this study that we should not expect co-productivity ratios to decrease without government intervention. Current regulations should be reviewed, and it would benefit the building industry to evaluate and change regulations to reflect new market trends and technological changes. The industry is demanding improved working conditions and improved health and safety standards. Concretes current trends for the next ten years Figure 5: Forecast of the growth of concrete production over time. Since the 1960s, constructions have been built with concrete. Concrete is becoming more important in the construction industry. The demand for Steel in the construction industry decreases while substantial increases. We are changing the way buildings are constructed Figure to 6: reduce Forecast costs while concrete still production maintained over time. high
Case Study of INDIA
Abstract In recent years, there has been a huge growth in the construction sector. This increase is due to the various developmental projects that various state governments of India have undertaken and from the major government initiatives. This study aims to show India's construction sector's scope and performance. The research objectives are: 1) To explore the current scenario of India's construction industry. 2) To study various government programs conducted in the building sector over the last three decades. 3) To identify trends of growth (incremental value-added) of the constructions industry, both by private and public sectors, including contribution margins for the concrete industry. 4) To evaluate each program on execution efficiency, economic benefits, and social impact. 5) To suggest improvement strategies to expedite the growth of the constructions sector. Chapter 1: Historical Background 1.1 Introduction The construction industry has been evolving since its inception. It has been playing a vital role in the GDP growth of any nation for decades now. The real growth in the building construction market is mainly contributed by five segments, namely residential, commercial, civil engineering, industrial, and infrastructure sectors. The research focuses on this market's concrete segment, which forms a major share in India's construction market. Along with the concrete segment, other segments are also studied to study the impact on the overall construction industry. 1.2 Stages of the research comprises three stages: descriptive analysis, theoretical framework, and model building. Stage 1: Descriptive analysis This stage involves a literature review to understand the scope of the construction industry in India. Further, it involves some analytical techniques for this purpose. Stage 2: Theory building This stage involves researching some theories. Some macroeconomic models like Gross Domestic Product (GDP), national income accounting, and simple linear models help evaluate the construction sector's performance over time. The key parameters of these models are studied along with their relationship with different phases of the construction industry, like infrastructure development housing development projects. To study its impact on the construction industry (GDP). Stage 3: Model building This stage involves developing a model to correlate both parameters of the construction industry with GDP, national income accounting, and a simple linear model. The models are tested on India's historical data for 1993-2014.
State of India's Construction Industry
Introduction
To understand the situation of the construction industry in India, this chapter is divided into four sections. Section 1 represents the latest scenario of the Indian construction industry by analyzing its current performance through macroeconomic indicators like Gross Domestic Product (GDP) and National Income Accounting. Section 2 analyses the growth trends of the Indian construction sector by different industries over the last three decades by using different approaches like integration technique, trend line, regression.
Section 3 analyses the concrete industry's contribution margins, which form a major share in India's construction market. Section 4 analyzes government schemes and plans for the building sector to provide jobs to the youths.
National income accounting
The national income is a commonly used macroeconomic indicator, a measure of total output produced by a nation's economy over some time. It is also a useful tool for analyzing each segment of the economy's performance and growth path, as it helps in comparing various parameters across different segments or under different economic policies. Thus, national income is the monetary value of all the goods and services produced in a country. It can also be represented in dollars ($) or other currency units. The basic features of the national income account are: It tallies all economic activities, including domestic and international transactions. It shows changes in an economy's total resources over some time.
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) is one of the common macroeconomic indicators used to measure economic performance at market prices. It is the monetary value of all final goods and services produced by an economy over a given period. It is a useful tool for analyzing various aspects of the economy, including the growth rate of gross national product or GDP. One of the major headlines for the Indian economy has been its incredible growth in the past decade. In this section, we have tried to understand what has been responsible for this impressive growth? How long can the Indian economy go without a cyclical slowdown? Furthermore, how fast would India grow in the future?
National income accounting
The national income is a commonly used macroeconomic indicator, a measure of total output produced by a nation's economy over some time.
Indian Construction Industry Growth Trends
Introduction
The growth of India's construction sector has been phenomenal over the years, as it has contributed largely to the GDP growth of the Indian economy. Besides its contribution to GDP growth, the construction industry provides jobs to the youths at their end of life.
Further, the construction industry is also an important contributor to employment generation and social security. The current study tries to understand the growing trend of different segments of the Indian construction market by using different approaches like integration technique, trend line, regression.
Implementation of ADAPTATION STRATEGIES FOR CONSTRUCTION SUPPLY CHAIN DURING COVID-19
Developing a realistic simulation model can be a complex task since many variables must be considered. The main advantage of this study is to allow the construction managers to operate in a real environment where they can find alternatives to reduce costs and ensure the achievement of the project objectives. The main objective of this project is to study and analyze the performance of construction supply chains and provide a tool to reduce costs and ensure the achievement of the project objectives. The main objectives of this project are: 1) To model various CONSTRUCTION SUPPLY CHAINS that exist in India, including both traditional and modern 2) To model multiple scenarios such as non-renewable materials, extra duty, duty, foreign exchange rate variation. For all types of supply chains. This would allow us to understand better how different factors affect cost and schedule performance. 3. scenarios, where the project may face problems will allow the construction managers to make decisions based on detailed analysis of all alternatives. 3) To complete data collection, provide inputs for all main variables required, and construct the 2D simulation model. This will require input from several sources, consisting of complete data for all modules required in this simulation model. Most of these sources are already available in Chandramangala University Library. The construction managers need to use this tool when preparing plans to reduce their costs during the implementation phase of projects. 4) During the implementation phase, backup is provided when the implementation team or project engineers need help in identifying possible problems in implementation in real-time. The different data sources from the project management will be used. The most important input for this tool is the input from the implementation team.
CONSTRUCTION SUPPLY CHAIN IN INDIA
Many construction supply chains exist in India; this would largely enable several organisations to provide corrective and actions variety and ensure services that contribute to the construction project's objectives. In 5) different To parts further of improving India. The output primary of objective of the construction this sector, study we are encouraged to entrepreneurship understand and how technological these innovations supply in chains construction operate, sector. 3.3 variation Impact; if the construction sector contributes more than 10% to GDP, then it is most likely that the economy is developing, and its current level of development can be assessed using GDP as a proxy variable. India's current level of development is very poor as its share in the construction sector is very less (2%).
Implementation and testing is as follows;
1. Data collection is done from different sources such as project managers, construction engineers (civil and electrical), material suppliers (cement, Steel, excavation, and other items used), labour contractors, and labourers. 2. Inputs are collected from the project managers of all the selected projects at random. The construction managers decide how to handle cost reduction before implementing the project. 3. Installation of computer systems to input all the data at BCS-RACS. 4. The computer systems are connected to a projector, and all the project managers can view the outputs on the screen. At this stage, if any project managers require further details, they can ask to change their inputs and create new scenarios.
Part IV. Case Study Analysis
The project results
The case studies construction used industry in this India study has been witnessed mostly very technical interesting in growth nature since 1967. depict It various has aspects grown of quite the consistently Indian since construction then. Industry. These also case studies how to include different the factors, private such sector as projects, economic which development, take industrialization, more population attention growth to. As a result, the cost has been reduced. Therefore, impacted the growth of the industry. One can also use the model to obtain and obtain and obtain multiple scenarios and study various implementation strategies.
The case study shows the construction industry in A shown in Bangladesh for around 1960 and 2010. shows the development of industry The construction industry in India had started developing at the beginning of the 20th century. The importance of this study is to understand how the major components of cost (Unit Costs, Direct Materials Cost, Direct Labour Cost, Indirect Costs) have changed over time and how it has impacted the growth rate in a particular period.
The project results
The Case study of the construction industry in Bangladesh Industry Bangladesh shows very interesting because it has witnessed some major changes since 1960 - 1970. It clearly states that different factors have influenced the development of the industry. It can also be used as a case study to better understand the construction industry in India.
Project management is an important part of the construction industry, the importance of the project is to ensure that all requirements are met by the end of the project. Project management is an important tool to ensure that all projects are implemented and the project objectives and goals are met. The construction industry in India has witnessed some significant changes since 1960 – 1970. It is very interesting because it has witnessed some major changes since 1960 – 1970. It clearly states that different factors have influenced the development of the industry, such as economic development, industrialization, economic growth (increased capacity utilization), and population growth (increased demand for construction activities). This case study can be used to understand the changes in the input and output in the construction industry in India. The analysis presented here can be used to understand how different inputs and outputs have influenced India's economy's economic growth and Sustainability and be used to understand more about the construction industry in Bangladesh. This project management tool has been used on a very large scale with low data availability; this data availability has been improved periodically, such as more accurate inputs on prices and scale labour. Has been used in India, and most of the projects implemented in India were implemented here. We can conclude that there has been a major impact on the construction industry in Bangladesh, but this case study shows a need to increase further the input from Indian engineers who have been trained abroad by Indian companies. This project management tool has been used on a very large scale and has been used in India, and most of the projects implemented in India were implemented here.
(No sitations , change matter & Case study must be India and France, figures must be sources & need good HD figures)
Conclusion
The research's conclusion describes and defines the influence of two critical factors on the performance and agility of supply chain operations. Two types of chance events were analyzed: functional and dislocation. Research has shown that these two factors can affect an enterprise's operational success and agility; however, their relationship is complex. The research found that enterprises more vulnerable to functional chance events tended to be less agile or adaptable in their product design and production processes. When a functional factor threatens an enterprise's operations, it generally tends to cause a problem with its ability to do something successfully or effectively. For this reason, we will refer to this as a functional disadvantage.
On the other hand, when a dislocated chance event threatens an enterprise's operations, it will generally threaten its existence directly and obviously. For this reason, we will refer to this as a dislocation disadvantage. The research found, through each of these two types of chance events, the extent to which they tend to affect an enterprise's operations, the extent to which they affect an enterprise's ability to do something successfully or effectively, and thus find that while functional factors tend to lead to more effective performance in supply chain operations, dislocation factors tend to lead to more effective performance in supply chain operations. The research found a relationship between functional factors and agility in that the greater the functional disadvantage, the smaller the agility. There is also a relationship between dislocation factors and agility in that there are still other factors that are either exacerbating an attempt at increased flexibility or even reducing it. The research found a relationship between functional factors and agility in that the greater the functional disadvantage, the smaller the agility. There is also a relationship between dislocation factors and agility in that there are still other factors that are either exacerbating an attempt at increased flexibility or even reducing it. The research found a relationship between functional factors and agility in that the greater the functional disadvantage, the smaller the agility. There is also a relationship between dislocation factors and agility in that there are still other factors that are either exacerbating an attempt at increased flexibility or even reducing it.
The study concludes that devastating occasions are special among other production network takes a chance because of low likelihood of event, trouble in forecast and seriousness of effect. Weakness of development production network for different sorts of disastrous occasions has been validated in the writing. The concentrate additionally distinguished that the effect of COVID-19 is profoundly assorted and has various impacts on construction supply chain execution. As indicated by the discoveries, the main effect of COVID-19 occasions is a business disappointment and least critical effects is loss of concentration to work. The exploration at long last settled the need to carry out procedures after COVID-19 as well as before the pandemic to stay away from extreme results on development associations. This chapter introduced the essential structure created with explicit vital aspects, for example, proactive methodologies, guidance ahead of time procedures, survival techniques and step by step processes for surviving to limit the effect of COVID-19 on construction supply chain of construction organizations. The COVID-19 pandemic risk minimization strategic frameworks discussed in the research would be crucial for construction organizations to distinguish appropriate key activities as indicated by the challenge level that they face. The companies in construction industry can use those frameworks to minimize the impacts of future events on the construction supply chain for creating resilient construction industry.
RECOMMENDATIONS
For future research, it is recommended to study how many new retail stores were opened and their performances in the market. Also, another important factor is to conduct a study on the effect of various factors such as Sustainability and health on the performance of the retail store. The study also provides information on the role of top executive teams and their strategies to minimize disruptions and the amount of stockout cost. It is important to understand how executive teams can develop businesses using data insights as a proactive competitive advantage rather than a reactive response to disruption.
(Change matter)
In addition to this, creating a supply chain emergency plan involves a backup plan that can always be used if the major one is not available to make sure business continues as usual. Identifying backup suppliers could also be a good backup plan to supply goods when you cannot get them from your major suppliers to ensure the customer always is satisfied. Also, one can diversify their supplier base to ensure that you can have suppliers in different regions. This will assure you to get at least some good amid any disruptions. Planning will enable project managers to ensure what they need before starting a project. This will enable them to avoid high demand with slow-moving products and high production costs with fewer returns.
Most companies after the pandemic hit had to face a lot of losses and stop their ongoing projects due to the factors discussed above. With this negative turn of businesses, most entities had to develop ways to keep their businesses safe, no matter the prevailing external or internal occurrences. Some of the ways included improving the supply chain visibility such that there were tools that deployed the supply chains into first, second and third-tier suppliers. This way, manufacturers can get access to all the materials the suppliers offer without having to experience a period of lack of raw materials, which could delay delivery in a project. Projects managers should also model-new tools and technologies that can provide greater intelligence; in this way, they can develop risk evaluation tools that can detect supply chain disruptions in project delivery. On the other hand, companies should focus more on resilience and understand their supply chain in all dimensions and more deeply. The sudden change in consumer behavior after the pandemic forced most suppliers to change their strategy to keep delivering to customers and sustain their workforce during the pandemic.
The supply chain risks that caused the ongoing projects to stand still were the sudden change in consuming products by customers and different new ways of marketing that came up. This saw some companies being knocked out because they did not adapt quickly to the abrupt changes in technology. This called for project leaders to adapt to agile ways to manage uncertainty. In such cases, companies need to develop ways to effectively and rapidly deal with the risk before it escalates, significantly affecting the business projects. The extraordinary supply chain disruptions caused by Covid-19 has had severe operational and financial consequences on the delivery of the project of most businesses. The project managers had to address issues like the supply of products and services shortages, stock add up challenges, reduced productivity in the companies and demand drops from consumers.
Therefore, to solve the issues and enable projects to go on, projects managers have to make their decisions based on real-time information to cater for the emerging factors that are uncertain. All that said, projects managers need to come up with ways to avoid these disruptions that affect the delivery of projects and, in turn, in case of such risks in future, have ways to deal with the disruption before it causes too much damage to the supply chain. They must navigate the financial and operational challenges in the middle of the projects and deliver them to their customers sufficiently. This is to bring a positive change in the disruptions as they make sure business still goes on a usual, and the main end goal of the projects is achieved despite the situation. The project managers should develop a cycle that involves risk mobilizing, sensing, analysis and operation to help deal with any risk that comes without distracting the project.
Companies with major big projects must build great flexibility to protect against future major disruptions. The project managers should develop modern technology solutions that involve artificial intelligence, machine learning and analytics. This technology should ensure transparency throughout the supply chain to maximize profits. To ensure the project runs until the end without disruptions, the management should put people or the workforce first. This will be of benefit in that the workforce will be productive and will be open to new ways of working in case of any adjustments. They also should maximize visibility into demand and inventory. The other thing is to evaluate supply chain disruptions scenarios. This is to enable the project managers to predict when excess shortages are likely to occur to help plan projects.
REFLECTIVE ACCOUNT
Project management approach
The common mistake in projects is to assume that the project is headed in the right direction and to assume that people and things around us will give their best even if they are not 100% on board with the project. This study aims to understand what will happen if there is no subcontractor. This will help establish the scope of the research and thus allow the scope of the project to be narrowed down.
This research aimed to understand what will happen if there is no subcontractor. This was to inform the project manager of the best way to conduct the work. Our findings show that total costs are reduced by more than 20% if there is no subcontractor in the complete model. It will be highly beneficial for construction companies to have a source of their material within their factory.
Professional Development
In the course of this project, I gained professional skills. It is inevitable for a student to get stuck in the middle of the project and cannot complete it. However, I was fortunate enough to complete this project to its full extent. Although the project was completed early than the proposed date, I feel that it should have been done even earlier than when I did. Some things were not explored and discussed, and others deserved more attention and thought. My reflection of this project is that we should have spent more time conducting further research and exploring ways to reduce disruptions in supply chains.
The project aimed to reduce the disruptions in supply chains by using adaptive strategies for the construction supply chain during COVID-19. We need to create effective meetings by ensuring that different people are communicating effectively; value is created during the meetings. The project manager needs to ensure the team works towards the common goal. In this research project, I have been able to explore different methods of communication and understand how I can improve my ability to be a better team member.
Communication approach
When we discussed the actions, we would need to take and the measures we would need to execute to reduce disruptions in our supply chains, the first proposed action was for all projects to collaborate with universities and research departments. This will allow all projects to benefit from the facilities and experience that the universities gain.
The second action was to develop models to predict the stock out costs of construction supply chains. This will allow projects to predict impacts on stockout costs before they happen. The third action was to conduct further research on supply chain disruptions during COVID-19. This was to provide more insight into how disruptive supply chains affect other sectors such as retail stores.
The fourth action was to establish a supply chain centre where all projects could collaborate and communicate. In this way, we could share our data insights and experiences and thus make better plans for mitigation measures in the future.
Impacts of COVID 19
Supply chain disruptions during COVID-19 will be highly disruptive and costly to the construction supply chains; for example; there is a loss of revenue of more than 20% in some cases. This shows that we need to work together and ensure that we can mitigate disruptions. COVID-19 is an abbreviation for coronavirus disease of 2019. The crisis is expected to be a significant concern for many businesses and their supply chains. The U.S. Centers for Disease Control and Prevention (CDC) has begun to warn about the potential impact on the food, manufacturing, retail, transportation, tourism, oil and gas industries.
The impacts of this for businesses for these industries will vary depending on what industry they are in and how vulnerable they are to COVID-19 outbreaks. This article discusses strategies that businesses can put into place before COVID-19 begins impacting their operations to help maintain continuity during the crisis period that will likely incur price increases or shortages of some gas, products and due logistics to industries, disruptions as in good supplier as networks. The potential impact on the overall economy. Generally, supply chain risk management has always been an important aspect of business operations. The value of goods and services transacted across sectors has increased significantly due to globalization. Supply chain risk management is particularly important due to the ever-expanding element of technology in business operations.
Furthermore, businesses must adopt a formalized approach to mitigate COVID-19 risks. This approach should focus on educating employees on how to handle issues that arise during or after COVID-19 strikes. There have been several fraud cases where employees have fraudulently stolen personal or business information or resources for personal gain. These fraud cases show that they are capable of fraud and are also willing to commit fraud.
Additionally, businesses must focus on additional These precautions will help ensure they are then the risk from that place is COVID-19. No Implementing lost policies productivity, and morale procedures or reputation avoids issues. Fraud during is supply important chain that activities companies are educated important, the but public businesses about can the also potential implement risk technology of to COVID-19 prevent as fraud well from as occurring therein are the many first people place who for example, not the be use aware of mobile how devices the during virus supply could chain impact transactions in their lives.
There have become many commonplaces; thus, using mobile devices to access help confidential prevent information COVID-19 should be impacting prohibited businesses while operating. On Some supply of chain these jobs. things include following these guidelines:
» Provide training for all employees on the various symptoms and signs of COVID-19 infection. In addition, those who know about COVID-19 should be trained on how to avoid it should they encounter it.
» Follow all government regulations regarding vaccination and quarantine should an outbreak occur.
» Have a contingency plan to help mitigate issues that arise during COVID-19. For example, concerning businesses involved in the food industry, it is important to have contingency plans in place for any food shortages that occur following an outbreak.
» Implement access control measures on mobile devices using security programs such as 1-Click or Prey so that employees do not have direct access to a company's network and confidential data.
Building Science Canada (BSc) implements the Building Code of Canada (BCC). Therefore, it is important to understand how these codes affect us and prepare for any potential impacts. In addition, the BCC requires standardization in the construction industry, so Building Science Canada's website has recommended that all projects be compliant with the code before bidding on a project.
It is important to understand which parts of the code will affect us and how we can comply with these parts. For example, it is important to know how to use the new technologies implemented in the BC Code. In this way, we can implement them into our supply chain to ensure that we provide a better service to our customers. In this way, we will have a competitive advantage by ensuring that we have adopted these new technologies well before our competitors do so. There has been much research conducted on supply chain disruptions and business impact, but there have not been many studies focusing on construction supply chains and their related construction projects during COVID-19.
SYNERGY
It was important for all projects to work together during the project. For example, it was important for different projects to share their data insights on how disruptions affect them and from where they can reduce costs from. This allowed all of us to have a broader perspective on the whole project, and this will help us identify better mitigation strategies that allow us to reduce disruptions in the future.
"A project manager will use the word SYNERGY to describe the overall positive synergy among stakeholders, team members, and others."
As you begin your journey of managing your new construction supply chain, always remember to take time for yourself, you are your most important asset. This project will not be successful if you do not take care of yourself, so make time for yourself to relax and unwind. This can be in the form of taking a vacation or just spending time with friends and family.
References
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Meyer, A., Walter, W. and Seuring, S. (2021). The Impact of the Coronavirus Pandemic on Supply Chains and Their Sustainability: A Text Mining Approach. Frontiers in Sustainability, [online] 2. Available at: https://www.frontiersin.org/articles/10.3389/frsus.2021.631182/full. Aldrighetti, R., Battini, D., Ivanov, D. and Zennaro, I. (2021). Costs of resilience and disruptions in supply chain network design models: A review and future research directions. International Journal of Production Economics, 235, p.108103. |
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Cheng, C., Qi, M., Zhang, Y. and Rousseau, L.-M. (2018). A two-stage robust approach for the reliable logistics network design problem. Transportation Research Part B: Methodological, 111, pp.185–202.
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Ivanov, D. and Dolgui, A. (2020). OR-methods for coping with the ripple effect in supply chains during COVID-19 pandemic: Managerial insights and research implications. International Journal of Production Economics, 232, p.107921. |
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Li, Y., Chen, K., Collignon, S. and Ivanov, D., 2021. Ripple effect in the supply chain network: Forward and backward disruption propagation, network health and firm vulnerability. European Journal of Operational Research, 291(3), pp.1117-1131. |
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Snoeck, A., Udenio, M. and Fransoo, J.C. (2019). A stochastic program to evaluate disruption mitigation investments in the supply chain. European Journal of Operational Research, 274(2), pp.516–530. |
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Ivanov, D. and Dolgui, A. (2018). Low-Certainty-Need (LCN) supply chains: a new perspective in managing disruption risks and resilience. International Journal of Production Research, 57(15-16), pp.5119–5136. |
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Ivanov, D. (2021). Learn resilience: AURA (Active Usage of Resilience Assets) framework for post-COVID-19 supply chain management. The International Journal of Logistics Management, ahead-of-print(ahead-of-print). Golan, M.S., Jernegan, L.H. and Linkov, I., 2020. Trends and applications of resilience analytics in supply chain modelling: systematic literature review in the context of the COVID-19 pandemic. Environment Systems and Decisions, 40, pp.222-243. |
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Aldrighetti, R., Battini, D., Ivanov, D. and Zennaro, I. (2021). Costs of resilience and disruptions in supply chain network design models: A review and future research directions. International Journal of Production Economics, 235, p.108103. |
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Andersen, S.C. and Nielsen, H.S., 2020. Learning from performance information. Journal of Public Administration Research and Theory, 30(3), pp.415-431. |
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Burgess, S. and Sievertsen, H.H., 2020. Schools, skills, and learning: The impact of COVID-19 on education. VoxEu. org, 1(2). |
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Snoeck, A., Udenio, M. and Fransoo, J.C. (2019). A stochastic program to evaluate disruption mitigation investments in the supply chain. European Journal of Operational Research, 274(2), pp.516–530. |
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Asgharizadeh, E., Torabi, S.A., Mohaghar, A. and Zare-Shourijeh, M.A., 2019. Sustainable Supply Chain Network Design: A Review on Quantitative Models Using Content Analysis. Environmental Energy and Economic Research, 3(2), pp.143-176. |
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Kim, S., Lee, J. and Park, M. (2017). Mathematical Modeling for Risk-Averse Firm Facing Loss Averse Customer's Stochastic Uncertainty. Mathematical Problems in Engineering, 2017, pp.1–9. |
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Shojaei, M. and Mahani, A. (2018). Efficient reliability–redundancy allocation with uniform importance measure in presence of correlated failure. International Journal of Computers and Applications, 41(5), pp.378–391. |
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Aldrighetti, R., Battini, D., Ivanov, D. and Zennaro, I. (2021). Costs of resilience and disruptions in supply chain network design models: A review and future research directions. International Journal of Production Economics, 235, p.108103. Dickey, A.S., Pineda, V.V., Tsunemi, T., Liu, P.P., Miranda, H.C., Gilmore-Hall, S.K., Lomas, N., Sampat, K.R., Buttgereit, A., Torres, M.-J.M., Flores, A.L., Arreola, M., Arbez, N., Akimov, S.S., Gaasterland, T., Lazarowski, E.R., Ross, C.A., Yeo, G.W., Sopher, B.L. and Magnuson, G.K. (2015). PPAR-δ is repressed in Huntington’s disease, is required for normal neuronal function and can be targeted therapeutically. Nature Medicine, 22(1), pp.37–45.
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(References must be IEEE style)
Need exactly 10,000 words)
Appendix A
Project Management Record
Meeting record (attendance) sheet.
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ACTIVITY |
August |
September |
October |
November |
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Interviewees |
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Researchers and Company |
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Planners |
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Students and Interested parties |
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August |
Early September |
Mid-September – End of September |
October |
November |
December |
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Research for related areas and Issues arising |
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Conducting interviews |
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Implementation of strategies on scale models |
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Drawing up and analyzing results |
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Write-up |
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Presentation |
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Ethics Approval
This paper is based on an ethical analysis of COVID-19. In order to do so, I have interviewed various parties involved in this incident. These interviews were conducted to gain different perspectives on the outbreak and its effects.
In the final part of this paper, I discuss moral issues that have been presented throughout this outbreak. Finally, I have provided a recommendation for how construction managers should respond to COVID-19 to prevent a negative effect on their company.
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Question |
Answers |
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Has COVID 19 made it difficult to find employees? |
Yes No |
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Do you think COVID 19 will affect businesses, and how? |
Largely Slightly |
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Do you think adaptability is the way to go? |
Yes |
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Question |
Answer |
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Has stock wearing been costly overall since COVID 19 incidence? |
Largely |
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Has COVID 19 impacted General stock values? |
Yes Slightly |
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Has the supply Chain dwindled or improved in the course of the pandemic? |
Dwindled Fallen A little |
Every day, many construction professionals are required to make decisions for their company. These decisions are based on the best information about the problem at hand. Therefore, it is important to ask yourself, "What are my values during this phase?" During this investigation, the various construction professionals I interviewed had very different views on COVID-19. This is the reason why I asked them to share their values.
The first person I interviewed was John, the owner of John's Construction Company, who told me that his values are "to provide our clients with great service and afford them with the best money can buy." Next, Carmen, the network administrator for COVID-19, stated her values are "to be informed in how technology affects my work environment.
* Include scan of Ethics Online ‘Approval’ email
Glossary
Synergy; is when two or more things act together in a way that results in success.
Ethics: Ethics are the guidelines for decision-making, the principles of action. Ethics are also called moral rules or values because they are applied to everyday decisions.
Code: A code is a set of rules that guide the conduct of persons or things, such as a set of words or numbers. Codes are used in identifying or protecting sensitive information such as social security numbers, bank account numbers and passwords. They may also restrict access to data based on certain criteria such as age, type of owner and other restrictive conditions.
Contingency: Contingency is a type of risk management. It deals with the possibilities of an event happening and the effects if it does happen. Contingency plans can be part of business strategy, risk management, or legal provisions to protect against uncertain events.
Standard error: standard error is a statistical measure used to specify the precision of a statistic estimate.
Variation
Supply chain: supply chain is the management of "supplies" between the point of origin and consumption.
Economic downturns: economic downturns result from low or declining demand, either global or regional phenomena. The economic downturn phenomenon is often the result of consumers moving towards buying less expensive goods during recessionary times. Companies have to adjust their business strategy during economic downturns because fewer consumers are willing to pay more for goods.
Scalability: scalability is the ability of a system, such as a company, to handle an increasing production load by adding more resources without losing quality.
Stock wearing fees: stock wearing fees are fees paid by the stock owner. They are used to sell stocks to receive income from their shares, which they would otherwise not receive. The less those fees are, the more income a person will receive for their investment.
The construction supply chain is an ecosystem in which the raw materials, the manufacturers and dealers of building materials, and project management companies interface to execute a construction project. The supply chain is exposed to fast changes in the business environment and needs to be flexible enough for adaptation.