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PPMP20015 Research In Project Management 4
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PPMP20015 Research In Project Management 4
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Course Code: PPMP20015
University: Central Queensland University
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Country: Australia
Question:
Analysing the Challenges of Cost Forecasting in Context of large Projects.
Answer:
Introduction
In Construction industry, the main motive is to ensure the projects finishes on time, within budget and achieving all project objectives. Regardless of the fact that we have the availability of various Control Techniques and Project control Software, many construction Projects in UK fail to meet the objectives. The research should be in the field of studying the ability of the practitioners to effectively control their projects. A survey was conducted on 250 Projects to find the common factors inhibiting the time and cost at the real time and hindering Factors like, design changes, risks/uncertainties, inaccurate evaluation of project time/duration, complexities and non-performance of subcontractors were the major findings. This Research includes a combination of Quantitative and Qualitative methods mainly done in two stages. First stage being the Questionnaire survey in order to generate information from a large number sample Population. Second stage is using the semi-structured interviews in order to create depth to the results of the questionnaire survey by investigating and elaborating on some of the issues highlighted.
Table Of Identified Sources
This study proceeded toward the influencing factors from a new perspective. Most of the previous studies were focused on the causes of the cost and time overruns. The Survey of this Study mainly approached the current view of the Leading Practitioners in the UK. In Comparison to previous studies where External factors were cited as important factors, it was interesting to find in this study that top five inhibiting Factors were all Project internal elements (Abbas, 2006). The External Factors such as inflation, material shortage, unforeseen ground conditions, inclement climate, etc. may be difficult to handle but the frequency of their occurrence is general low whereas internal factors are persistent and require constant controlling.
The mitigating measures are distilled from in-depth interviews with experienced management practitioners, which came out with the steps to improve the current project control practice. For instance, general decline in the production of detailed design for construction projects has been perceived as a bottleneck during Project control process (Kaliba, Muya, Mumba, 2009). Generally, a lack of distinction between a design change and a design development lead to squabble between Project Partners. Further interviews brought out the fact that unachievable and unrealistic time scales from the Client contributes to the Problem of Project management. The mitigating measures like, designing the project to a great detail at the outset whenever possible, clear distinction between a design change and a design development at the outset of a project, educating and advising client on alternative if an unachievable/unrealistic project timescale is stipulated, having the courage to refuse unrealistic project timescale by clients unwilling to yield to professional advice and many more came out as the result of this study (Al-Khalil, Al-Ghafly, 1999). Similar development measures were also built on existing studies but they were mainly generic project management services.
Among other studies, ‘a constructability program was described as the application of a disciplined and systematic optimization of construction-related knowledge during the planning, design procurement and construction stages by knowledgeable experienced construction personnel who are part of the team’ (Agaba, 2009). The mitigating measures are the result of a three staged process: literature review, questionnaire Survey, and intellectual thinking and the interviews. There is a need to fuse the implementations of these measures into project control models.
Some of these measures specify what needed to be done, but do not speaks about the how they can be achieved. Researchers will need to put more emphasis on these issues to further enhance efficiency in the said field.
Cost Control Techniques Used On Building Construction Sites in Uganda
George Otim, Fiona Nakacwa, Michael Kyakula
Buildings, Control, Cost, Techniques, Uganda
This paper discusses various cost control techniques and their suitability and applicability invarious real-life scenarios, particularly in large construction oriented projects.
Understanding and Monitoring the Cost-Determining Factors of Infrastructure Projects
Directorate of European Commission DG XVI
Cost benefit analysis, evaluation programs, cost determining factors, Infrastructure projects, cost overruns, large infrastructure projects
This paper studies various cost determining factors and how they modulate cost in real life. It discusses various cases where some unrelated factors may later translate into cost-affecting factors and may result in cost overrun. It goes on to suggest a framework methodology so as to keep course of costs and track them efficiently.
Cost Estimating Manual for Projects
SAEO
Cost enstimation, delay, construction, design, large infrastructure, government, USA
This report discusses various cost estimation methodologies for various projects based on their extent, magnitude, end-user base, and similar other stakes. With regard to large projects, this manual undertakes study of various time tested methodologies and project management strategies. It also adds a set of recommendations in the end as to how and when to employ which methodology and which factors to consider and track to ensure proper cost control.
Cost and Time Control of Construction Proejcts: Inhibiting Factors and Mitigating Measures in Practice
Yakubu Adisa Olawale, Ming Sun
infrastructural projects, contractor, delayed payment, budget overrun, time overrun, large projects
In this paper, the researcher takes a highly empirical approach towards cost and time control of construction projects, discussing the magnitude related factors separately. In this paper, the researchers also suggest some practical strategies to implement to ensure better control of resources and cost.
Critical Appraisal
As empirical as most studies in the field of cost and time control for large projects are, they all focus on consolidating a universally acceptable skeletal framework. This framework is aimed at providing a starting point for such projects so that the possibility of errors and issues is put at minimum. However, being non-specific to the type of project being undertaken, these models do little in real life to actually provide a structure. The project management team, contractors, and sub-contractors have to go through rigorous phases of planning, analysis, correction, and discussion to begin and carry out the whole project. Hence, more emphasis needs to be put on creating customizable models which provide readymade options to get a skeletal structure for projects of varying magnitudes.
Preliminary Research Questions:
In this paper, we discuss the backdrop to and the status quo of answers to following questions:
What are the cost and time issues faced across various stages and phases of a large scale project and what do these factors depend on?
What are the existing and/or proposed (viable) methodologies for addressing these issues?
What is the scope of further research in this field?
Personal Reflection & Conclusion
After this vivid discussion, it is clear as day that large projects need a specific and customised methodology to ensure proper execution and timely completion. Cost overruns, completion delays, arbitration and litigation issues, authorization and authority violations, government and legal commodity compliances, are all factors that need to be taken care of. Irrespective of the nature of project (which could be construction, technological infrastructure development, IT related large project, and so on), projects of a certain magnitude should follow a pre-designed model of execution so that all stakeholders are well-informed across all stages.
References
Alinaitwe, H.M., (2006). Assessing the degree of industrialisation in construction –A case of Uganda. Journal of Civil Engineering and Management, Vol Xii, No 3, 221–229 ISSN 1392–3730 print / ISSN 1822–3605.
Minnesota Department of Transportation, Cost Estimation and Cost Management, Technical Reference Manual, 2008
Butler J.B., 1982. Element of Administration for Building Student, printed by the Anchors press Ltd, Great Britain.
Olawale, Y., and Sun M. (2010). “Cost and time control of construction projects: Inhibiting factors and mitigating measures in practice.” Construction Management and Economics, 28 (5), 509 – 526.
Chitkara, K, K., 2005. Construction Project Management: Planning, Scheduling, and Controlling. Tata McGraw Hill Publishing Company Ltd.
Yakubu, O. and Sun, M. (2009) Cost and time control of construction projects: a survey of contractors and consultants in the UK. Construction Information Quarterly, 11(2), 53–9
Dharwadker, P. P., 1996. Construction Management, 2nd Ed; Oxford & IBH Publishing Co. PVT.LTD New, Delhi. India.
Harris, F and McCaffer, R., 2002. 5th ed.; Modern Construction Management. Granada Publishing Limited, 8 Grafton Street, London W1X 3LA.
Hendrickson, C., 1998. Project Management for Construction. Carnegie Mellon University, PA 15213.
Holt, G.D., Proverbs, D.G. and Love, P.E.D, (1999) “Logistics of materials handling methods in high rise in-situ construction”, International Journal of Physical Distribution & Logistics Management, Vol. 29 ISSN: 10, pp.659 – 675.
Likert, R., 1932 “A Technique for Measuring Attitudes” Archives of Psychology 140 1 – 55.
Raina, V.K., 1999. Construction Management Practice. Tata McGraw-Hill Publishing Company Limited7, West Patel Nagar, New Delhi, India.
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