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

The Need for Project Management

Project management is a particular concept of management applied to project-type work. It is a concept which is being widely promoted, although it is not always very well understood by those in need of the service, or even those involved in the many aspects of this form of management. However, as experience is gained and understanding of the concept and the many supportive management techniques improves, so do performance and support, generally. The driving

forces arise from the pressure of such factors as unfavorable short-term economic conditions, risks inherent in unpredictable inflationary trends, the magnitude and duration of projects (particularly in construction), and increasing regulatory and environmental requirements, as a result of political pressures.

Such uncertainties make the project management approach particularly appropriate for owners intending to invest in significant capital works. Properly applied, project management enables an owner to maintain both executive control and open options for as long as possible to respond to external conditions.

This is achieved by dealing through a single entity, the project team, which in turn is led by an individual dedicated to the project, or to project work, and identified as the project manager. This team should be established early in the development of the project concept and be given responsibility for the complete project life cycle from feasibility; through schematics, design, procurement; to delivery and start-up. In this way, managerial unity is established early in the project, with the capability of achieving specific goals through a practical organizational structure.

Thus the owner avoids becoming intricately involved with the design and construction specialists and in the very time-consuming details necessary to create new facilities. In short, he is able to continue to concentrate on his primary business with minimum interruption to his own organization.

Introduction  Introduction

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