Future Construction Industry Trends - Page 47

Public Private Partnership (P3) - The partnership is based on a negotiated contract between a public organization and a private company. Source: www.businessdictionary.com Public relations -The professional maintenance of a favorable public image by a company or other organization or a famous person. Source: www.businessdictionary.com Public works - (or internal improvements historically in the United States) are a broad category of infrastructure projects, financed and constructed by the government, for recreational, employment, and health and safety uses in the greater community. They include public buildings (municipal buildings, schools, hospitals), transport infrastructure (roads, railroads, bridges, pipelines, canals, ports, airports), public spaces (public squares, parks, beaches), public services (water supply, sewage, electrical grid, dams), and other, usually long-term, physical assets and facilities. Though often interchangeable with public infrastructure and public capital, public works does not necessarily carry an economic component, thereby be ing a broader term. Source: www.businessdictionary.com Quality - The standard of something as measured against other things of a similar kind; the degree of excellence of something. Source: www.businessdictionary.com Quality Assurance - The maintenance of a desired level of quality in a service or product, especially by means of attention to every stage of the process of delivery or production. Source: www.businessdictionary.com Quality control - A system of maintaining standards in manufactured products by testing a sample of the output against the specification. Source: www.businessdictionary.com Quantity Estimating - Accurate Quantity Surveys are the basis of budgeting, estimating and assessing projects which includes evaluating the scope of work, labor, man-hours, equipment and material required for each project adapted to the projects unique location and local conditions. It is imperative to understand exact dimensions, forms and configurations of project elements of all project sizes. Source: garoviBRIDGE Quantity Take Off - A process in which BIM can be used to assist in the generation of accurate quantity take-offs and cost estimates throughout the lifecycle of a project. This process allows the project team to see the cost effects of their changes, during all phases of the project, which can help curb excessive budget overruns due to project modifications. Specifically, BIM can provide cost effects of additions and modifications, with potential to save time and money and is most beneficial in the early design stages of a project. Source: http://bim.psu.edu Radioactive materials - Radioactive wastes are wastes that contain radioactive material. Radioactive wastes are usually by-products of nuclear power generation and other applications of nuclear fission or nuclear technology, such as research and medicine. Radioactive waste is hazardous to most forms of life and the environment, and is regulated by government agencies in order to protect human health and the environment. Radioactivity naturally decays over time, so radioactive waste has to be isolated and confined in appropriate disposal facilities for a sufficient period of time until it no longer poses a hazard. The period of time waste must be stored depends on the type of waste and radioactive isotopes. It can range from a few days for very short-lived isotopes to millions of years for spent nuclear fuel. Current major approaches to managing radioactive waste have been segregation and storage for short-lived waste, near-surface disposal for low and some intermediate level waste, and deep burial or partitioning / transmutation for the high-level waste. Source: www.world-nuclear.org ©Copyright 2014, North Central Texas InterLink, Inc. All rights reserved 47