Tacoma Bridge
Instructions
1. Design Build Contract: a. Define the structure and intent of a firm fixed price (FFP) design-build contract.b. What are advantages and disadvantages of such a contract?c. As noted in the case study, the more common type of contract used in publicsector projects like the Tacoma Narrows Bridge is a design-bid-build contract. Whatadvantages does a design-build contract have over the design-bid-buildagreement?
Answer
Tacoma Bridge Contracts in the construction sector are used to ensure that every party is bound to their responsibilities and roles. It gives an outline of how every party is supposed to make the project a success. Tacoma Narrows Bridge is an example of a construction project associated with procurement management. Firm Fixed Price design-build contracts entail fixing a price that is not subject to future adjustments. The contract's costs and experiences are left with the contractor to absorb all of them. A firm fixed design-build contract offers a price where there are no changes that ought to be done in the future. The costs and future experience are thus the responsibility of the contractor provided the agreement was signed by all the parties. The contractor is thus supposed to price t...
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