Market
Improving Infrastructure Delivery: Project Initiation Routemap, Handbook, Version 2 June 2016, published by the Infrastructure and Projects Authority, states: ‘A market is a group of organisations that integrates and competes to provide goods or services to one or more clients. The construction and infrastructure market is often characterised by a large number of suppliers and SMEs.’
Project Routemap, Setting up projects for success, Organisational Design & Development, UK Module, published by the Infrastructure and Projects Authority, states:
In the context of Routemap, the market comprises organisations which integrate and compete to deliver goods or services to one or more clients. This includes:
- the players, for example, sellers/buyers/partner
- the rules, for example, regulation, legislation
- processes, for example, procurement, delivery
- structure, for example, relationships between buyers, sellers, partners
The glossary of statistical terms, published by the Organisation for Economic Co-operation and Development (OECD), states: ‘A market is where buyers and sellers transact business for the exchange of particular goods and services and where the prices for these goods and services tend towards equality. In order for a market to "clear" or function properly, the quantity of goods and services demanded and supplied must be equal at some given price. At any particular point in time, markets can be in "equilibrium" or "disequilibrium" depending on whether or not aggregate supply equals aggregate demand at the prevailing price.’
[edit] Related articles on Designing Buildings
Featured articles and news
Awe-inspiring medieval great barns.
Registered building inspectors
Building types and conflicts of interest updates explaineed.
Engineering services still struggle with labour shortages
According to latest quarterly services survey of the sector.
Infrastructure that connect the physical and digital domains.
Harnessing robotics and AI in challenging environments
The key to nuclear decommissioning and fusion engineering.
BSRIA announces Lisa Ashworth as new CEO
Tasked with furthering BSRIA’s impressive growth ambitions.
Public buildings get half a million energy efficiency boost
£557 million to switch to cleaner heating and save on energy.
CIOB launches pre-election manifesto
Outlining potential future policies for the next government.
Grenfell Tower Inquiry announcement
Phase 2 hearings come to a close and the final report due in September.
Progress from Parts L, F and O: A whitepaper, one year on.
A replicated study to understand the opinion of practitioners.
ECA announces new president 2024
Electrical engineer and business leader Stuart Smith.
A distinct type of countryside that should be celebrated.
Should Part O be extended to existing buildings?
EAC brands heatwave adaptation a missed opportunity.
Definition of Statutory in workplace and facilities management
Established by IWFM, BESA, CIBSE and BSRIA.
Tackling the transition from traditional heating systems
59% lack the necessary information and confidence to switch.
The general election and the construction industry
As PM, Rishi Sunak announces July 4 date for an election.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.