Construction Project Management and Business Management
Over the past few years, the construction industry has been changing dramatically. One of the most important stages in the construction management and business management is the planning phase. They share similar two main levels of planning which are the strategic and operational planning. However, business management planning to decide in advance what should be done, and how to do it, when you do and you are done. On the other hand, Construction management strategic planning is to deal with selection on a high level of overall objective of the project, including the scope, procurement methods, schedules and financing options but the planning of operations, including the establishment of the method statement for each activity. Business management planning bridges the gap from where we are where we want to go. It makes it possible for any operation to occur. What is more, is the planning at both strategic and operational levels of the construction project uses various tools and techniques to help achieve the best blueprint for improvement of the participation decision which do not applied in the business management.
Contraction project management might be defined as overall planning, coordination and control of the project from beginning to end, designed to meet customer requirements for the production of a functional and viable financial project, which will be completed on time, within cost and authorized for the required quality standards (Fewings, 2010). However, according to Walker (2007) construction project management defined as “the planning, co-ordination and control of a project from conception to completion (including commissioning) on behalf of a client requir...
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... receipt, where the contractor of the project in construction management works well enough to allow the owner receipt of the project as the owner of the project a preview of the work of the project and issue a list of defects in which the contractor must repair, and called this stage also recognizing the interim. Nevertheless, control is the final business management stage, the administrative function is to monitor the recent performance of the organization and determine whether objectives were achieved or not.
References
Cole, G. A. (2008), Management Theory and Practice, London, South Western Cengage Learning.
Fewings, Peter (2010), Construction project Management, London and New York, Taylor & Francis.
Govimdarjan M., Natarajan S. (2008), principal of management, New Delhi, PHI.
Walker, Anthony (2009), project Management in Construction, Oxford, Blackwell.
The construction industry plays an important role in competitiveness and prosperity of the economy in terms of its significantly contributing to shelter, infrastructure and employment (Anaman and Osei-Amponsah, 2007). A number of researchers have investigated on the vital role of the construction sector to the overall economic growth. In Rhodes’ paper who stated the construction industry in the UK contributed £83.0 billion in economic output in 2012, which accounts for 6% of the total. Also, workforce jobs in the construction industry in UK were 2.03 million in 2012 and 2.12 million in 2013, account 6.4% and 6.5% in total respectively (C. Rhodes, 2013). Oladinrin indicated the significance of construction linkage with the aggregate economy in Nigeria by studying on construction output and Gross Domestic Project (Oladinrin and etc., 2012). A recent report of U.S. Bureau of Economic Analysis showed that the GDP value added of construction industry was $652,723 million in 2014, 3.7% of total GDP (http://www.bea.gov/industry/gdpbyind_data.htm). Besides, a report of U.S. Bureau of Labor Statistics stated the employment by construction industry sector take 4.7%, 3.9% and 4.5% in the year of 2002, 2012 and 2022 respectively (http://www.bls.gov/emp/ep_table_201.htm). The construction industry has been playing an influential role on domestic GDP in China (Zhou and Liu, 2007). A report of National Bureau of Statistics of China
The paper presents a detailed discussion on implementation of BIM in a construction project by defining a BIM team in the various phases of construction i.e. from conception to commissioning. Also, the paper presents a brief discussion on processing the information utilizing the i-rooms.
In today’s uncertain economical business environment there is an understandable pressure to improve the quality of decision making at all stages of the project. A number of techniques have been developed to address this concern, two of the leading approaches used in the construction industry are Earned Value Management and Risk Management (Hillson, 2004), those two approaches share a common aim of providing decision makers with the best information available when setting objectives and considering management strategies. However, they take differing approaches, Earned Value Management establishes project performance status and extrapolates that information to gain an understanding of future trends and the allocation of resources needed to successfully
Construction Management is the overall planning, outlook, coordination, budget and control of a construction project from start to finish. Without them, construction projects would be very unorganized and chaotic. They make sure projects run smoothly and efficiently. They work with electricians, plumbers, carpenters and general contractors to produce the safest and best way to complete the project for the customer. Being a construction manager is a good job because they help many people build what they need.
In today's business it is in the best interest of companies to have project managers. Common sense isn't always easily accomplished. Anyone who's ever worked on a project in a technical setting knows this. Indeed, much of working with others consists of solving unexpected problems and learning from mistakes along the way. Knowing this and having the proper tools a project manager will be able to manage and complete the most intense project out there.
The projects in today’s world are given a lot of importance and it will continue to grow in the coming years. There are a lot of companies which do not have production, but all of them do have projects. There are a lot of books which have been published on which related to planning and managing the projects. The one of the most important one was published by the author Eli Goldratt in his book ‘Critical chain’. This book basically talks and shows how the application of theory of constraints in the field of project management. The novel is basically based on one of the MBA classes in America where a number of ideas are developed in discussions among the students and the lecturers. The lecturer is basically fighting for a tenure with the president of the university who expects a downturn in the executive MBA. The lecturer who teaches project management has a word with one the senior colleagues and project management was the right topic to teach. There were three students who were placed in the project management team of their company which manufactures electronic products. The students are enrolled in this MBA class along with other students, here they discover a new approach to project management which is known as the
“Our plans miscarry because they have no aim. When a man does not know what harbor he is making for, no wind is the right wind” a famous quote about our goal by Seneca. It is a metaphor about the achievement goal and objectives by good planning skills. One has to plan for what one wants to achieve and where one wants to go. One of the most important things is to have good planning, before taking any project the first think you should do is to create project plan. Planning can be defined as preparing a sequence of action to achieve specific goals and objectives. According to Kerzner (2009), “project planning is desirable that the project manager is involved from project conception through execution. It must be systematic, flexible to handle, closely disciplined through reviews and control and capable of accepting multi functional inputs (pg. 412)”. The importance of planning a project is to describe the work so that it will be easily identifiable to the project team member.
There are many similarities and differences between domestic and global project management. A project manager must realize that what might work in their country may not work in a foreign environment. Project managers might find themselves using practices that have worked for them in the past, without even thinking of the new environment, and issues may arise. Project managers need to understand the differences in a different country's environment to avoid and reduce any obstacles that there may be. Some considerations global project managers must consider are the legal, political, security, geographical, economic infrastructure, and culture implications of working with different countries (Gray, 2006).
In a highly changing environment, selecting the correct construction contract has become an essential aspect of having a prosperous project. Contracts have developed into a tool that project owners use to protect their resources and control costs. The failure of proper contract agreements in construction projects can lead the concerning parties to pay some unforeseen costs as they are needed to devote some significant amount of time, cost and efforts. Due to this reason, it becomes quite essential for management of projects to undertake some cautious consideration with the type of contract. The correct construction contract for a project can be critical to its success.
The topic of my group (group 4) was “How to totally float through your project for free” and the presentation was held by Roger Goodman who works for PMI NZ and Ernst & Young supply chain management with many years of working experience in many different countries such as Saudi Arabia and China.
An important part of the engineering business is project management. Project management is the use of planning, organising and controlling of assets, processes and people in the service of a goal. This usually involves a project manager and his team members. The project manager has overall responsibility for the project and his team. The primary aim of project management is too achieve the project goals and to optimise the needed inputs and combine them to further the aims of the project. (1)
According to the bureau of labor (2016)” employment in construction management is suppose to grow five percent from 2014 to 2024, about as fast as an average
In general, there are different types of procurement type for various situations, due to no one method can be suitable under the all different construction project. In this case, there are four procurement paths, which are traditional, design and build, management and design and manage, which will be advised to use. However, each method has different advantages and disadvantages. First, traditional path is the tender documents have been prepared and then invite the tender and the employer appoints the contractor to construct the project. There are several advantages of this traditional route in the construction industry.
Risk management is a process used in all industries to reduce the risk. The Risk management tool usage changes from sector to sector and hence each sector has developed their own risk management tools and methodologies to mitigate the risk. But the concept remains the same behind all the tools (Ropel, 2011). The main steps for risk management irrespective of the sector are:
Project planning falls in the Planning Process Group which consists of those processes to establish the projects total scope, define the projects objectives, and courses of action to achieve those objectives. During the planning process, all the documents that are needed to carry the project through the project lifecycle will be developed such as the project management plan. Project management requires repeated feedback loops as additional information becomes available and is better understood. The planning process delineates the strategy, tactics, and path to successfully complete the project. With that, the planning of a project must walk through all the those processes from executing, monitoring and controlling through the closing process.