"1. Bribery2. Extortion3. Fraud4. Cartels or Bid Rigging5. Abuse of Power6. Money LaunderingThe most common unethical conduct evidenced by the contractors are cover pricing, bid cutting,poor documentation, late and short payments, subcontractors‘ lack of safety ethics, unfairtreatment of contractors in tender/final account negotiations, competitors‘ overstatement ofcapacity and qualifications to secure work, competitors‘ falsification of experience andqualifications and bureaucratic, government policy.What are the reasons for choosing a Career in Construction Management?Ans 6. The Construction Industry is a vital employer in the nation's economy. It offers you theopportunity to create and to build. Careers as craftworkers and professional managementpersonnel cover a wide range of construction activities. The industry itself is diverse andembraces all kinds of projects such as office buildings, plants, schools, interstate highways,hydroelectric dams, hospitals, churches, houses and tunnels. It also includes major maintenanceand alteration projects. Large or small, the project is built carefully and capably by people withthe ingenuity, skill and education to create. This could be your world. Construction offers many different types of career paths, from semi- and skilled craft careerscovering over 20 different trades, to jobs in management covering a wide scope of activities. Theopportunities for advancement are virtually unlimited, regardless of where you choose to start.The industry also offers national and international job markets, giving you the opportunity toselect an employer in any city or town anywhere in the world. Few other careers offer this sort ofopportunity.1. Those who choose a career in construction are able to have a sense of accomplishmentwhen they are able to look at a completed project. There is an immediate feedbackshowing productivity and a job well done which will last for generations to enjoy.2. The construction industry is constantly evolving. The option to start your own business orprogress with new technology to do projects safer, more efficient, and ?greener? areavailable.Define Contracts as it relates to Construction Management Practice andidentify the salient parts of construction.Ans. 7 Written agreements between the owner of a project and a firm of professionals forplanning, design, construction, and commissioning of a construction project is called as aContract. Construction contract types are usually defined; by the way, the disbursement is goingto be made and details other specific terms, like duration, quality, specifications and severalother items. These major contract types can have many variations and can be customized to meet specificneeds of the product or the project.The six types of contracts are:? Lump sum contract? Item rate contract/schedule contract? Lump sum and scheduled contract? Cost plus fixed fee contract? Cost plus percentage of cost contract? Special contractsLump sum contractIn a lump sum contract an owner agrees to pay a contractor a specified lump sum after thecompletion of work without a cost breakdown.After work no detailed measurements is required.Lump sum and scheduled contractThis is a lump sum contract that requires a cost breakdown.Cost plus fixed fee contractIn cost plus fixed fee, the owner pays the contractor an agreed amount over and above thedocumented cost of work. Cost plus percentage of cost contractIn cost plus percentage, the owner pays greater than 100 percent of the documented cost, usually requiring detailed expense accounting.Special contractsSpecial contracts are further classified into five types:? Turn key contract? Negotiated contract? Package contract? Continuing contract[8] ? Running contractIn general, there are three sectors of construction: buildings, infrastructure and[6] industrial. Building construction is usually further divided into residential and non-residential(commercial/institutional). Infrastructure is often called heavy/highway, heavy civil or heavyengineering. It includes large public works, dams, bridges, highways, water/wastewater andutility distribution. Industrial includes refineries, process chemical, power generation, mills andmanufacturing plants. There are other ways to break the industry into sectors or markets. Identify the Different Construction Management Contracts used in the ConstructionIndustry.Ans.8 Every construction project has its own set of circumstances that can involve timing, legalobligations, ownership configuration, cost limitations, financing objectives, owner in-houseresources, and more. PCL is a construction company that offers a variety of contract types to suityour needs. "