Introduction 

Construction projects have many unique characteristics. Creating a large facility takes a long time and usually involves a large capital investment. Cost overruns, delays, and other problems tend to appear frequently. The process of building is complicated by the large number of components that are provided by different suppliers. Furthermore, the process only occurs once. Even if an owner builds repeatedly, the nature of the product and the parties involved in building depend on time, site conditions, user needs, and economic health. A building not delivered on time usually costs more than planned, and a late delivery can have cascading effects throughout an owner’s organization. For example, a microcomputer chip manufacturer may need a new facility to manufacture the latest version of a chip. If the facility is late, the manufacturer may miss the market and allow a competitor to get its chip on line sooner. This will affect the entire organization and may cause serious economic setbacks. An owner’s primary goal is to avoid such pitfalls.(工程项目有许多独特的特征。创建造大型设施需要很长时间，涉及大量资本投入。成本超支、工期延误以及其他问题频频发生。不同供应商提供大量组件，这使得建造过程变得复杂。此外，这个过程只发生一次。即使建设方重复建设，那么产品的性质以及参与方也取决于时间、现场条件、用户需求以及经济状况。未按时交付的建筑通常成本高于计划，延迟交付可能会在业主的整个组织中产生连锁效应。比如，一个芯片制造商可能需要一个新的设施来制造最新的芯片。如果设施工厂延期，制造商可能就会错过市场，从而让自己的竞争对手更快地上线其芯片。这将影响整个组织，并可能导致严重的经济挫折。所有者的主要目标是避免此类陷阱。）

★What is delivery method?

Definition: A particular combination of professionals and contract arrangements that assigns responsibilities and risk in a certain way.  It refers to the owner's approach to organizing the project team that will manage the entire design and construction process.

★Why we disscuss  delievery method？

▶Delivery method is closely related with risk(time & budget)

In choosing a delivery method, an owner's primary goal is to ensure that it can meet the project objectives and at the same time allow the project to be delivered on time and in budget.  Time and budget are closely related.   A building not delivered on time will cost more than planned; of course the delay will have many other negative effects.   Since the world is full of risks and unpredictable forces, so an owner must choose the proper delivery method and contract. 

 ▶Delieverying a project fast is important 

Getting a project to market fast is important to project owners for many reasons. For example, a microchips（芯片）manufacture may need a new facility（设施） to manufacture the latest version of a chip. If  the facility is late, the manufacture will miss the market opportunity and be defeated by its competitor.

The sooner a project is completed, the sooner it can begin to provide benefits to the owner. Private sector projects become assets and can be refinanced（再融资）at lower interest rates, thus reducing an owner’s liability（负债）. Completed projects also begin to produce income. Some projects are necessary for the design and manufacture of products that have tremendous（巨大的） value but short useful lives—for example, computer-related products. Getting to market fast is essential for both reclaiming（回收）the initial investment and beating the competition. 

Understandably, owners often offer substantial bonuses（丰厚的奖金） for early completion and correspondingly stiff penalties（严厉的处罚）for late completion. Public sector projects also carry early completion incentives（激励）, not necessarily because of an incentive to beat the competition but because of the need to reduce debt and provide early public benefits. Examples might be the completion of a school by the start of fall classes（秋季课程）; the timely construction of sewage treatment facilities（污水处理设施） to match population growth; and the quick repair and construction of road, rail, and other transportation projects. 

视频：The future of project delivery