Critical path definition What is the critical path method? The Critical Path Method (CPM) is a project management methodology often used by construction project managers to determine the time a project should take from start to completion. critical path method refers to a sequence of activities taking the longest overall duration to complete and theyContinue reading “What is critical path method?”
Tag Archives: Construction Management
Full form of PERT : Project evaluation and review technique
Full form of PERT Yes, PERT is an acronym, same as NASA, PESTLE & RICS. The full form of PERT is Project Evaluation and Review Technique. Why Project evaluation and review technique (PERT) required? Everybody has long term and short term goals in their personal and professional life. If anybody needs to achieve each ofContinue reading “Full form of PERT : Project evaluation and review technique”
Why Work breakdown structure is No 01 important for a project?
Proper coordination and planning are the vital ingredients of a successful project. A project consists of many unimaginable tasks and work elements. The secret of accurate planning is identifying these many tasks, dividing them into small manageable tasks, and creating coordination between tasks. A work breakdown structure (WBS) is a systematic and refined way ofContinue reading “Why Work breakdown structure is No 01 important for a project?”
PESTLE analysis example- 6 Great examples
PESTLE Analysis is an analysing strategy used in any kind of business or organisation. PESTLE analysis helps to analyse all external factors which affect businesses (organisations or projects). Some may call or write this as PESTEL analysis. Same like SWOT analysis, Word PESTLE is acronymic for below words. PESTLE Stands for, P- Political E- EconomicalContinue reading “PESTLE analysis example- 6 Great examples”
Project cash flow- Construction cost management
What we discuss here is, determining the actual flow of money for the contract duration by dealing with construction project cash flow. Also, the way to finalise the contract price. 1.0- Contract cash flow When we are considering the project’s level, the difference between a certain project’s income and expense is named as “The project’sContinue reading “Project cash flow- Construction cost management”
3 – Subcontractors in construction industry
The maximum portion of tasks in a construction project is carried out by subcontractors. Most of the leading contractors in the modern construction industry are keen to use subcontractors than direct labours for their works. It allows them to minimise indirect overheads costs such as rental for labour camps, transports, insurance charges etc. Managing aContinue reading “3 – Subcontractors in construction industry”
Construction risk assessment at tender stage
In construction, Risk assessments are a very important factor in each stage of a project. Before the construction at the tendering stage, the contractor should do a proper risk assessment. There are two kinds of risk in the construction process. First one is the risks which can quantify (quantifiable risks). And the other one, whichContinue reading “Construction risk assessment at tender stage”
Tendering process 1st step -decision to tender
The tendering process in construction-1st step Incorrect tendering and estimation process can lead a company into dangerous situations. Underestimation of a project can hurt owners and employees of the company at the construction stage. And overestimation can push the company out of the competition (tender rejections). Therefore any company should have a proper strategy orContinue reading “Tendering process 1st step -decision to tender”
6 most popular types of tendering methods in the construction industry
There are various types of tendering methods, to analyze, negotiate and award a project to a contractor. But We can only identify two types of contractual bindings in the construction industry. The first is a standing offer under a maintenance work for a specified period, and this contract type is rare compared to others. TheContinue reading “6 most popular types of tendering methods in the construction industry”
6 Steps of Value Engineering Methodology
Value engineering is also called value analysis in the construction industry, And it is the most crucial step in the value management process. The Hard definition of Value engineering is, “Value engineering is the process of optimizing or improving project or product to deliver its maximum functionality or capabilities without spending much cost and without damaging the qualityContinue reading “6 Steps of Value Engineering Methodology”