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Construction Industry Characteristics → Building Project Procurement…

- - - - 简注：Market characteristics determine tendering rules and route selection
      - 课程例子：HK client-driven market uses first-price sealed-bid tender for Traditional route; Oligopoly leads to non-price competition in procurement
      - 👉 Lecture 2 Matching
        
        Tendering method 招标方式
        
        Traditional (Design-Bid-Build) 传统设计-招标-建造
  - - - 🔑 Requires（要求）| Linkage & Example
        
        简注：Fragmentation requires refined subcontract management and contracts
        
        课程例子：Multi-tier subcontracting in HK requires direct client-SC contracts in Construction Management route
        
        👉 Lecture 2 Matching
        
        Subcontract management 分包管理
        
        Construction Management 施工管理
    - - 🔑 Leads to（导致）| Linkage & Example
        
        简注：Low profit margin + power asymmetry shift risk to subcontractors in procurement
        
        课程例子：Low profit margin leads to D&B route (single-point responsibility, contractor bears design/construction risk)
        
        👉 Lecture 2 Matching
        
        Risk Allocation 风险分配
        
        Design and Build (D&B) 设计和建造
    - - 🔑 Leads to（导致）| Linkage & Example
        
        简注：Winner’s Curse drives procurement to prioritize risk control over low bids
        
        课程例子：Winner’s Curse in tendering makes D&B route more popular (avoids low bid losses)
        
        👉 Lecture 2 Matching
        
        Risk Allocation 风险分配
        
        Design and Build (D&B) 设计和建造
  - - - 🔑 Increases（增加）| Linkage & Example
        
        简注：Unique projects increase demand for flexible risk allocation and integrated management
        
        课程例子：Unique projects require Design and Manage route (integrated design-construction for transient teams)
        
        👉 Lecture 2 Matching
        
        Risk Allocation 风险分配
        
        Design and Manage 设计和管理
    - - 🔑 Increases（增加）| Linkage & Example
        
        简注：Transient teams increase demand for integrated procurement coordination
        
        课程例子：Transient teams in HK construction need Management Contracting (contractor-led coordination)
        
        👉 Lecture 2 Matching
        
        Project Objectives (Time efficiency) 项目目标（工期效率）
        
        Management Contracting 管理承包
    - - 🔑 Affects（影响）| Linkage & Example
        
        简注：High risk affects priority of cost/time objectives in procurement
        
        课程例子：High project risk makes Management Contracting prioritize time over early cost certainty
        
        👉 Lecture 2 Matching
        
        Project Objectives 项目目标优先级
        
        Management Contracting 管理承包
    - - 🔑 Demands（要求）| Linkage & Example
        
        简注：Long cash flow requires cash-oriented payment terms in contracts
        
        课程例子：Long cash flow cycle demands milestone payments in all procurement routes (interim payment for progress)
        
        👉 Lecture 2 Matching
        
        Contractual Arrangement 契约安排
        
        All Procurement Routes 所有采购路线
  - - - 简注：Client-driven market aligns with client control in procurement
      - 课程例子：Client-driven market matches Traditional route (client controls full design by architect)
      - 👉 Lecture 2 Matching
        
        Client Control 客户控制权
        
        Traditional (Design-Bid-Build) 传统设计-招标-建造