Packet Switching vs. Circuit Switching Assignment

Packet Switching vs. Circuit Switching - Assignment Example Packet switches finds it application mostly in the exchange conducted through the computer or other modern digital devices that make use of bits and packets of data. P.S.T.N enabled transmission is an example of circuit switch technology while VOIP and IP network is an example of Packet switched network(Rahman, Ellis, & Pursell, 2003). The major difference between the two is in the manner in which the information is sent. Circuit switched network has a pre defined and dedicated path for signal transmission. This dedicated transmission takes place in multiple phases starting with establishing of the call, followed by the transfer and finally the termination of link at the end of the call. While packet switch deals with node to node and does not work on the basis of pre allocated path for traffic transmission. Circuit switching relies mostly on T.D.M or F.D.M or at best on C.D.M for channel transmission, while Packet switch uses dynamic I.P network which is far more effective and can accommodate more options compared to its predecessor. Chances of contention are relatively higher in case of circuit switching mode. Routing processes in Packet switching are more concrete and hop to hop basis routing is performed which makes it easy for overall packet transmission and packets are exchanged and extended in form of store and forward mechanism(Kurose, 2005). Line efficiency of packet switched system is far better than the predecessor. In case of traffic congestion, the prioritization process can be adopted this makes the network working unlike circuit switch which is highly prone to congestion and saturation. Packets are handled either through the virtual circuits or through the data gram. Amongst these two, datagram is more flexible. Though relatively slow and limited in options, circuit switches are considered more reliable than the packet switch as the overall transmission is handled from

Risk Pricing in Construction Contracts in Saudia Arabia Research Proposal

Risk Pricing in Construction Contracts in Saudia Arabia - Research Proposal Example This report sets out some of the general risks to be taken into consideration, for application in the Saudi Arabian region. Most construction contracts originate through sealed bid auctions. The bids are generally prepared using approximations, with a risk allowance being included to cover any unforeseen circumstances, and inaccuracies in estimations.(Skitmore, 2001:800). Most construction companies have an overall risk management strategy, and the major issues arising in this context are (a) risk ownership, i.e, which party owns the risk and (b) risk financing, i.e, how to allocate and use risk contingencies (Smith and Mema, 2006:5). One of the most important risks arising in construction contracts is the management of uncertainty, caused by two major factors: (a) complexity – where information is available in principle, but is too costly or time consuming to analyse (b) unpredictability – where past events do not provide a reliable guide for the future. In instances where there is enough data that is available to assign meaningful probabilities to the information that is required, then the uncertainty becomes a question of risk (Winch 2010:7). The element of uncertainty is especially applicable in the context of price, because the price agreed to at the time of singing the contract and the actual price incurred are likely to change due to external factors in the environment that cannot be effectively predicted. In terms of managing the risk, dynamic uncertainty refers to the relative uncertainty at any point on the project life cycle, relative to earlier and later points on the cycle, but when adequate amounts of information are obtained in progressive stages, the levels of uncertainty are also reduced. As Smith and Mema(2006:6) have pointed out, the management of risk largely entails the exercise of control over events in the future and this may involve the ability to