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Forms of Organization

Forms of Organization. Presentation: 05-02 March 19, 2003. RAT #05-02-1. Take out a sheet of paper, put your name on it and … Take 2-minutes to list the 4 primary risks assumed by design engineers. Pass papers to the aisles and front. Purpose:.

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Forms of Organization

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  1. Forms of Organization Presentation: 05-02 March 19, 2003 CVEN 349 - Maxwell

  2. RAT #05-02-1 • Take out a sheet of paper, put your name on it and … • Take 2-minutes to list the 4 primary risks assumed by design engineers. • Pass papers to the aisles and front. CVEN 349 - Maxwell

  3. Purpose: • Introduce Students to the various ways to organize to reduce risk exposure. CVEN 349 - Maxwell

  4. Learning Objectives: • Students should be able to list and/or describe the three basic forms of ownership. • Students should be able to sketch and annotate the basic forms of project organization. CVEN 349 - Maxwell

  5. Traditional Organization Lack of a contract between A/E and GC causes most of the conflicts. Owner is “caught” in the middle. CVEN 349 - Maxwell

  6. Design Build Insulates the Owner but Owner has little control. CVEN 349 - Maxwell

  7. Traditional Owner Contractor Owner hires a General Contractor to supervise Subs and Suppliers. CVEN 349 - Maxwell

  8. Variation on Traditional Owner hires a CM to advise him in managing Subs. CVEN 349 - Maxwell

  9. Owner hires a CM to Run the Construction CVEN 349 - Maxwell

  10. New Methods will require New Organizations. How would you Organize this? Traditional? Design Build? Partnering? CVEN 349 - Maxwell

  11. PAT #5.2.1 • Take out a sheet of paper and … • Individually, take 1 minute to Sketch a Design/Build project organization. • As Pairs, take 2-minutes to compare and discuss. • As Teams, take 2 minutes to discuss why you might use this in a “fast tracked” project. CVEN 349 - Maxwell

  12. Three Basic Forms of Ownership • Proprietorship – An Extension of a Person and terminates with that person. • Partnership – Several Persons but terminates with the Death of a Single Partner. • General Partnership – Everyone is Involved • Limited Partnership with Managing General Partner • Corporation – A Legal Person with Indefinite Life, with owners having Limited Liability CVEN 349 - Maxwell

  13. Corporations may be: • Publicly Traded – Stock Exchange • Closely Held – Usually a Family • Sub Chapter S – Usually Family Members or Circle of Friends and Associates. I think that the Texas Professional Corporations are treated as Sub Chapter S’s. • REIT – Real Estate Investment Trust • Joint Ventures CVEN 349 - Maxwell

  14. What you have to consider when you pick an ownership form. • Taxation Issues • Risk and Liability Issues • Capital formation • Continuity of Organization • Administrative Flexibility • Legal Restrictions CVEN 349 - Maxwell

  15. Taken fromHalpin Chapter 5.

  16. PAT #5.2.2 • Take out a piece of paper and… • Individually, list the three forms of ownership and which one would your use to start a micro brewery. • As Pairs, take 2-minutes to discuss your solution. • Turn in your individual answers. CVEN 349 - Maxwell

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