Construction Project Management: What is it and Why is it Important?

What is a Construction Project?

A construction project is the systematic process of constructing, remodelling, refurbishing, or otherwise improving a building, structure, or infrastructure. The project process usually begins with a broad requirement that is fleshed out through a brief, feasibility studies, option studies, design, finance, and construction.

What is Construction Project Management?

From conception to completion, construction project management entails coordinating and arranging each phase of the project life cycle. It’s a comprehensive approach aimed at completing projects on schedule and budget. Construction project management is a complicated profession that entails dealing with a variety of issues, including cost control, scheduling, procurement, and risk assessment. From architects to owners to contractors, project managers deal with everyone participating in a building project.

The Construction Project Management Functions

Planning

Goal setting and choosing a way to accomplish those targets is the job of planning in management. Managers must be familiar with the current state of their organisation’s environment and foresee future situations to plan.

Time Management

This entails managing workers (task delegation, training, and meetings), managing projects (resource allocation), and eventually managing priorities for organisations (risk management).

Administration of Contracts

The preparation, negotiation, delivery, and fulfilment of any contract with customers or vendors are referred to as contract administration. Contract preparation and execution have a lot of potential for aligning mutually agreeable contracts that result in excellent business results.

Safety Management

A solid health and safety management system can help to reduce risk and prevent workplace accidents. It is unacceptable for anyone to be harmed or killed at their place of employment. Putting in place a health and safety system can assist to prevent accidents and enhance employee morale.

Quality Management

The act of managing all activities and tasks that must be completed to maintain a particular degree of perfection is known as quality management. This comprises establishing a quality policy, creating and implementing quality control and planning, as well as quality assurance and growth.

Cost Management

Cost management is the process of planning, monitoring, and reporting expenses throughout the lifecycle of a project. For businesses, this entails having the correct processes and technologies in place that not only assist in budgeting at the outset but also in managing expenses throughout time to avoid overruns. You’ll need up-to-date data, like labour and material prices, to develop an accurate project cost estimate.

Why Construction Project Management is Important?

Saves Money and Time

With proper planning, you can guarantee that your project is completed on time and at the expected cost. For example, by utilising project management techniques, you can chart the journey of your project from the beginning and know where the delays – and anticipated expenditures – will occur, allowing you to better allocate resources, minimise delays, and overuse the project.

Make Better Business Decisions

Clear and transparent documentation of how your project is progressing, where your efforts are invested, what you need to prioritise, and when and if you are at risk of going off track can help you obtain a better understanding of how your project is progressing. You can identify problems before they become problems, avoid inefficiencies, and make data-driven judgments with good project management.

Management of Resources

Another way to get the most out of project management is to keep track of the components involved. Although resource management is inextricably tied to cost control and revenue forecasting, it demands unique attention. Some of the resources required to do the work include inventory and equipment, as well as skill and experience. It is possible to check if the resource usage matches the initial estimates and if optimisation is achievable at this stage.

Business Expansion

For a company that wants to grow its market share, getting construction management software with the right features is critical. PM software will help businesses run more efficiently, complete projects faster, and earn higher returns on their investments. With the help of business process automation, you can also generate and manage more jobs at the same time, keep track of all your expenses, save time, and eliminate manual work.

Having the right project managers will ensure that the development of your property is executed on time and within budget. At PPVS, we have years of experience, so get in touch today if you need a reliable project manager.