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
Classroom electrician courses a 'waste of money'
Say experts from the Electrical Contractors’ Association.
Wellbeing in Buildings TG 10/2025
BSRIA topic guide updates.
With brief background and WELL v2™.
From studies, to books to a new project, with founder Emma Walshaw.
Types of drawings for building design
Still one of the most popular articles the A-Z of drawings.
Who, or What Does the Building Safety Act Apply To?
From compliance to competence in brief.
The remarkable story of a Highland architect.
Commissioning Responsibilities Framework BG 88/2025
BSRIA guidance on establishing clear roles and responsibilities for commissioning tasks.
An architectural movement to love or hate.
Don’t take British stone for granted
It won’t survive on supplying the heritage sector alone.
The Constructing Excellence Value Toolkit
Driving value-based decision making in construction.
Meet CIOB event in Northern Ireland
Inspiring the next generation of construction talent.
Reasons for using MVHR systems
6 reasons for a whole-house approach to ventilation.
Supplementary Planning Documents, a reminder
As used by the City of London to introduce a Retrofit first policy.
The what, how, why and when of deposit return schemes
Circular economy steps for plastic bottles and cans in England and Northern Ireland draws.
Reporting on Payment Practices and Performance Regs
Approved amendment coming into effect 1 March 2025.
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.