Executive Control with Flexibility In Managing Capital Projects


Abstract | Introduction | Need for PM | Comparison | Objectives
Execution | Features | Flexibility | Stages | Work Breakdown
Scheduling | Construction Management | Services | Conclusion


Project Management, as a concept, is one of the significant trends occurring in industry in response to such severe pressures as unfavorable economic factors, the inflationary spiral, the magnitude and duration of construction projects, and increased and unpredictable regulatory and environmental requirements.

It enables owners investing in capital works to maintain executive control by dealing through a single entity that assumes overall responsibility for feasibility, schematics, design, procurement, and delivery. Further, it provides the managerial unity required to achieve specific project goals within a functional organizational structure, with minimum interruption to the organization's on-going business.

This paper is intended to enlighten those who may be contemplating project management, or who may be already involved, but are not necessarily familiar with some of its key aspects. Comparison is first drawn between project management and traditional management philosophy. Features of project management are then outlined together with a number of requirements that are fundamental to its success and effectiveness.

Various typical stages in the life cycle of any project are then identified, together with the all-important executive control points between each. Particular reference is made to the 'Project Brief' which is the culmination of the feasibility phase efforts.

The means of detailed project control through a formalized work breakdown structure, and the characteristics and differing types of work packages, are described. Schedule control and cash management are also outlined.

The paper concludes with discussion of the opportunities to save time and to further extend flexibility by means of Construction Management, and how the whole approach may be established and organized using outside resources to augment those of the owner.

Abstract  Abstract

Home | Issacons | PM Glossary | Papers & Books | Max's Musings
Guest Articles | Contact Info | Search My Site | Site Map | Top of Page