STUDY AND EVALUATION OF STRATEGIC MANAGEMENT IN INDIAN CONSTRUCTION INDUSTRY Naveen Thomas Abraham1, A. Arokia Prakash2 1 Student, Construction Engineering and Management, SRM University, Chennai, 603203, naveennt2007@gmail.com 2Assistent Professor, Construction Engineering and Management, SRM University, Chennai, 603203, arokiaprakash.a@ktr.srmuniv.ac.in 1 ABSTRACT Strategic Management is a concept that concerns with making decisions and taking corrective actions to achieve long term targets and
Abstract The construction industry is large and diverse, with lot of companies and professional bodies. This makes it thought-provoking to develop a common vision and priorities. Activities in the industry are always term as project and these projects must be procured and managed thus making the concept of procurement and project management inevitable in the construction industry. This paper will begin by briefly introducing the reader to the construction industry and try to find and give appropriate
analysis in construction projects N.Hari Raghavan, M.TECH; C.Venkatasubramanian, Ph.D. Abstract Cost, time, risks and availability of funds are the key factors in any construction project. Project managers are prone to face various risk factors that affect project cost and time duration of the project. This paper concentrates on the effect of risks on the overall cost of the construction projects. Questionnaire was prepared considering various risk factors that are associated with construction process
Construction has made a vital contribution to the competitiveness and prosperity of the economy. However, the importance of construction industry to Hong Kong has been unjustifiably neglected by the government. The Hong Kong Government has not recognized construction industry as a pillar industry. In our opinion, construction industry has a potential for further development.Its importance will be illustrated from economic contribution and social contribution two perspectives in depth. In the economic
A construction involves different activities and people from the initial planning stage through execution stage. PMs with lack of management skills will experience schedule delays and cost overruns. In 2008, CIOB conducted a survey into the management of construction industry and results indicated that more than two-thirds of the projects are not able to complete in the given time due to poor management (CIOB, 2008). In fact, an effectively managing the time and change are the two main key factors
INTRODUCTION 1.1 EQUIPMENT PRODUCTIVITY IN CONSTRUCTION INDUSTRY The study of productivity though started very early in the field of construction, it has still been one of the chronic problems confronting the organizations having their business in this mammoth industry. Today’s rapid economic development and stiff market competition has made experts take a close note of the revenue generation and profit before executing any project of national and international importance. And lack of productivity has often
2.4 PROCUREMENT STRATEGIES Procurement strategies for building projects have not changed in the last thirty two (32) years. Even though the industry is still encountering cost and time overruns in most projects funded by the public sector e.g. South Gauteng High Court project, Norwood Police hostels project, etc. as a result procurement method chosen for a particular project, particularly the public renovation projects, is ought to be expected to play a significant role in minimizing the cost and
According to the Construction Industry Institute (1995), adequate front-end planning on construction projects does not always mean the project will be successful, however, as a result of inadequate front-end planning on the construction projects, more projects have failed than not. Information is gathered through the front-end planning process which helps in making decisions whether or not the project should be approved, terminated or alternatively the project could be modified before it can
INTRODUCTION Sawdust powder molding technology is an engineered development in construction of boards of varying shapes and thickness. It involves utilization of sawdust that is normally disposed from the saw mill, wood construction practices such as furniture construction or wood making plants. These fine particles from sawdust can be mixed with resins to make boards of economic value by cold-compression .These products can be utilized in making of furniture, cabinet doors, deckig, and ceiling
Accidents in the construction industry are costly in human and financial terms. The economic cost is not the only basis on which a contractor should consider construction safety. The reasons for considering safety are humanitarian concerns, economic reasons, laws and regulations, and organizational image . Cost of safety is paid by the organization either through the uncontrolled cost of accidents or through the controlled cost of safety program . The uncontrolled cost of accidents includes the loss