Essay On Construction Industry

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Construction industry World aspect: Construction industry is one of the major sectors in the world and plays a huge role in the development of a particular country. There are numerous challenges facing today’s construction manager. Some of them are new to the industry, and some are decades old. Many of the challenges are a direct result of the construction operations, while others are a result of indirect, peripheral activities. A surprising number of challenges are not construction issues but should be addressed and managed by the construction manager (CM) to ensure the success of the all the projects. The construction issues include safety, workforce considerations, time constraints, and the changing nature of the work and many more. Non-construction challenges that CMs faces and are also a part of the business landscape include government regulations, legal issues, environmental concerns, and socio-political pressures and many more. It is critical that the CM understands the demanding realities that he or she faces in the planning and control of construction operation. The construction industry faces all of these the…show more content…
The use of new technologies such as prefabrication has helped to reduce the operating cost (cost of production) and has increased the total revenue in the industry, which has attracted many new people to the industry. Even though it’s one of the most growing industry in the world and also in Singapore, it is considered as one of the most important aspect for the development of the locality and the country. There are high barriers to entry in this industry, as company need to be highly skilled and perfect in their project, as efficiency and staying on schedule is highly prioritized by the buyer of the contract, so having effective project management is considered to be a strong strength for the market

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