BSR659 Professional Practice II UITM Assignment Sample Malaysia

The BSR659 Professional Practice II course is designed to provide students with the opportunity to develop and apply their knowledge and skills in a professional context. The course focuses on the development of professional practice in relation to the management of sports and recreation organizations. The course is delivered through a combination of lectures, tutorials, seminars, and practical sessions.

Assignment Task 1: Interpret ethics and and professional liability with application to the Building Surveyors’ role in the construction industry.

Building Surveyors play a crucial role in the construction industry by ensuring that buildings comply with relevant regulations, codes, and standards. As such, they have ethical and professional responsibilities to uphold in their work, as well as potential liabilities if they fail to meet those responsibilities.

Ethics refers to a set of moral principles that guide behavior and decision-making. For Building Surveyors, ethics may involve considerations such as ensuring public safety, protecting the environment, and respecting the rights of stakeholders such as clients, contractors, and members of the public. Building Surveyors should also act with integrity and avoid conflicts of interest, as well as uphold professional standards and codes of conduct.

Professional liability refers to the legal responsibility that professionals have for their actions and decisions. Building Surveyors can be held liable if they fail to meet their obligations and responsibilities, leading to financial or physical harm to others. This can include negligence, breach of contract, or breach of statutory duties.

To minimize the risk of professional liability, Building Surveyors must ensure that they have appropriate qualifications and expertise to carry out their work, and that they keep their knowledge and skills up to date. They should also ensure that they carry out their work diligently, accurately, and with due care and attention. Building Surveyors should also communicate clearly with clients and stakeholders, and document their work in a transparent and accountable manner.

Assignment Task 2: Elaborate the corporate management in business industry, management theory and professional liability, the role of the Building Surveyors in the construction project, risks and insurances, disputes and disputeresolution related to construction industry, claim and payment and the entrepreneur skill on business capital.

Corporate Management in Business Industry:

Corporate management in the business industry refers to the process of leading, organizing, planning, and controlling the activities of a company to achieve its objectives effectively and efficiently. Corporate management is essential for the success of any business as it helps in aligning the organization’s goals with its resources and capabilities. It involves making strategic decisions, setting goals and objectives, developing plans, and monitoring the progress of the organization. Corporate management also involves ensuring that the company is compliant with relevant laws and regulations, managing risk, and optimizing performance.

Management Theory and Professional Liability:

Management theory refers to the body of knowledge that explains how organizations can be managed effectively. It includes various principles, concepts, and techniques that are used by managers to guide their decision-making and actions. Professional liability, on the other hand, refers to the legal responsibility that professionals have to ensure that their actions do not harm their clients or other stakeholders. In the business industry, managers have professional liability to ensure that their decisions and actions are in the best interest of the company and its stakeholders. This includes ensuring compliance with laws and regulations, managing risks effectively, and making decisions that are fair and ethical.

The Role of Building Surveyors in Construction Projects:

Building surveyors play a critical role in construction projects. They are responsible for ensuring that the building design and construction meet the relevant standards and regulations. Building surveyors work closely with architects, engineers, contractors, and other stakeholders to ensure that the construction project is completed on time, within budget, and to the required standards. They are also responsible for inspecting buildings and identifying any defects or potential risks. Building surveyors play a crucial role in ensuring the safety and compliance of buildings and are therefore essential to the success of construction projects.

Risks and Insurances:

Construction projects are often associated with various risks, including financial, legal, environmental, and safety risks. Risks can arise from various sources, including the design, construction, and operation of the building. To manage these risks, construction companies and building owners often take out insurance policies. Insurance policies can cover various types of risks, including public liability, professional indemnity, and construction all-risk insurance. Insurance policies can help to protect the company or building owner from financial losses that may result from unexpected events or accidents.

Disputes and Dispute Resolution:

Disputes are common in construction projects and can arise from various sources, including disagreements over design, construction quality, delays, and cost overruns. Disputes can be costly and time-consuming, and therefore it is essential to have effective dispute resolution mechanisms in place. Dispute resolution mechanisms can include negotiation, mediation, adjudication, arbitration, and litigation. These mechanisms are designed to help parties resolve their disputes in a timely and cost-effective manner. Effective dispute resolution can help to minimize the impact of disputes on the project’s progress and can help to maintain good relationships between the parties involved.

Assignment Task 3: Identify risks and insurances, disputes and dispute resolution related to construction industry.

Risks in the Construction Industry:

1. Safety Risks: Workers face various hazards like falls, electrical shock, fire, or explosion.
2. Environmental Risks: Construction activities can lead to environmental damage, pollution, or contamination.
3. Project Risks: Construction projects are complex and involve various risks like delays, budget overruns, design flaws, or contractual disputes.
4. Equipment Risks: Construction equipment can malfunction, leading to accidents and delays.
5. Supply Chain Risks: Construction projects involve numerous suppliers, which can lead to supply chain disruptions, delays, or quality issues.

Insurances in the Construction Industry:

1. Workers’ Compensation Insurance: This covers injuries or illnesses sustained by employees while working.
2. Liability Insurance: This covers damages caused to third parties or property.
3. Builder’s Risk Insurance: This covers damage or loss to the construction site or building under construction.
4. Professional Liability Insurance: This covers claims arising from errors or omissions made by construction professionals, like architects or engineers.
5. Performance Bonds: These guarantee that the contractor will complete the project as per the contract, and if not, the bond will pay for any damages incurred.

Disputes in the Construction Industry:

1. Contractual Disputes: These arise when the parties involved disagree on the interpretation of the contract, its terms, or its execution.
2. Design Defects: These occur when the design of the project is flawed and leads to construction problems or damages.
3. Payment Disputes: These arise when the contractor does not receive payment or is not paid on time.
4. Delay Claims: These arise when the project is delayed, and the contractor seeks compensation for the additional costs incurred.
5. Environmental Claims: These arise when construction activities lead to environmental damage or pollution.

Dispute Resolution in the Construction Industry:

1. Negotiation: The parties involved can negotiate to resolve the dispute without involving a third party.
2. Mediation: A neutral third party facilitates discussions between the parties to find a mutually acceptable solution.
3. Arbitration: A neutral third party hears the dispute and makes a binding decision.
4. Litigation: The dispute is brought before a court, and a judge or jury makes a decision.

Assignment Task 4: Explain the entrepreneur skill on business capital and financial planning.

Entrepreneurial skills related to business capital and financial planning are essential for any entrepreneur who wants to establish a successful business. These skills include the ability to:

1. Raise Capital: Entrepreneurs need to be able to raise capital to fund their business ventures. This could be through personal savings, loans, venture capital or angel investment. The ability to pitch and convince investors that their business idea is worth investing in is a key skill for entrepreneurs.
2. Financial Planning: Entrepreneurs should have a solid understanding of financial planning and budgeting. This involves creating a financial plan that outlines the expected expenses, revenue, and profits over a specific period. It is essential to identify the key performance indicators (KPIs) that measure the success of the business and track them regularly to ensure the business is on track.
3. Manage Cash Flow: Entrepreneurs need to manage their cash flow effectively to ensure that they have sufficient funds to meet their day-to-day expenses and pay their bills. This involves tracking incoming and outgoing payments, managing account receivables and payables, and monitoring inventory levels.
4. Monitor and Analyze Financial Performance: Entrepreneurs should regularly monitor and analyze their financial performance to identify areas for improvement and make informed decisions. They need to have a good understanding of financial statements such as the income statement, balance sheet, and cash flow statement.
5. Make Strategic Financial Decisions: Entrepreneurs need to make strategic financial decisions such as investing in new products or services, expanding into new markets, or acquiring other businesses. These decisions require a thorough understanding of the business’s financial position, market trends, and potential risks and rewards.

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