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General Contracting Requirements and Cost/Price Estimating

Respond to each discussion question below and reference material from this week’s reading and videos, in addition to any personal experience you might have.

What are the factors involved in developing an IGCE? How does a contractor build their cost/price proposal, especially in the successful exercise of contractor evaluation and finally award selection?
Discuss how cost control and contract management apply to the acquisition of goods and services in both the public and private sectors.
Discuss one topic or issue from this week’s material that may benefit you personally or professionally.

Sample Solution

For my personal reflective essay, I have selected from the book Thinking Globally: A Global Studies Reader (2013) edited by Mark Juergensmeye, Part 2, chapter 6, East Asia: Global Economic Powers. I chose this particular chapter because it sustains a contrasting discussion regarding East Asia and its part in the global economy which alternates well with my major in International business and relations and language, Chinese. Another factor that aided my decision in choosing this chapter is my interest in East Asian countries, particularly China. My profound interest in China lead me to take up mandarin in my first year of high school and I had kept with it until my final year, I am now ecstatic to continue my learning of Chinese under my Global Studies degree. Regarding my understanding of Global Citizenship, I could come to an agreement that I have an entrepreneurial position (Stein, 2015) seeing how I am interested in the New Zealand’s economy my main focus would be how we can better compete in the global economy (Stein, 2015) but I do not agree with some of its aspects, for example, I think the importance of being able to learn another language is to not only view it as another great acquiring skill to better myself for job opportunities but more so highlight the process of experiencing another culture and diving into every knowledgable aspect of it with an open mind, in doing so diminishing the individualistic behavior that follows this particular approach. Within this chapter, I was interested in “The great divergence” (Pomeranz, 2013). This essay highlights the relationship between Europe and China and how trade linked the two empires (Pomeranz, 2013). Throughout his discussion, we can understand further, China’s demand for silver and its effect on the economy, the author writes: indeed… had China in particular not had such a dynamic economy that changing its metallic base could absorb the staggering quantities of silver staggering in the New World over three centuries, those mines might have become unprofitable within a few centuries. (Kenneth Pomeranz, 2013, pg 160).
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