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Topics for a project management essay
Topics for a project management essay
Topics for a project management essay
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Appendix A: Interview Package Cover Letter
Dear Sir/Madam,
I am writing this letter requesting your support for my dissertation as a partial fulfilment of the award of Master of Science in Project Management degree at University of Liverpool.
Construction industry has been always considered as an uncertain and changeful industry. It is obvious that operating in this dynamic environment is affecting projects performance, and leading to time and cost overruns. In the last 15 years Abu Dhabi has witnessed great shift and improvement in the infrastructure development. This research will be concentrating on the construction industry in Abu Dhabi. The research will study the factors that influence time and cost overruns in Abu Dhabi and the strategic
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From your experience in construction industry, what are the most inhabitant factors that might lead to time and cost overruns in construction projects?
2. The below table shows the results from five similar studies about time and cost overruns. The below mentioned factors are considered as the most effective factors that influence time and cost overruns. What is your point of view about these findings?
Author Zaneldin (2006) Motaleb and kishk (2010) Hoai, Lee and Lee (2008) Koushki, Al-Rashid & Kartam (2005), kaming, et al. (1997)
Country of Study UAE UAE Vietnam Kuwait Indonesia
Factors that Influence Time & Cost Overruns Change or variation orders Change orders Poor site management and supervision Change Orders Design Changes Delay caused by owner Lack of capability of client representative Poor project management assistance Contractor Lack of Experience Inflation in Material Cost & inaccurate material estimate Oral change orders by owner Slow decision making by client Financial difficulties of owner Financial Constriants Poor Labour Productivity Delay in payments by owner Lack of experience of client in construction Financial difficulties of contractor Owners Lack of Experience Lack of Proper
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Various control strategies and procedures have been implemented to control time and cost overruns in construction projects. From your point of view, what are the most useful strategies that can control cost and time in construction projects?
2. The below table reflects some researchers recommended strategies that can control time and cost performance in construction projects. Do you agree with these findings and why?
Author Zaneldin (2006) Assaf & El Hejji (2005) Faridi & El Sayegh (2005)
Country of Study UAE KSA UAE
Recommendations to Control Time & Cost Overruns Allow enough time to establish proper deign. Minimize the amount of change orders A proper and strict submittal and communication planshould be implemented Establish quality control techniques and mechanisim Maintain steady and stable financial program from both the client and contractor Owners should make sure that a quality control method will be part of the contract. Implement constructability during the project stages Implement proper quality control management plan that control the project planning and scheduling Involve and implement construction management professionals &
A controlled number of these studies have been carried out in the United States, with the bulk being international (Moceri & Drevdahl, 2014).
In this day and age anyone can write anything and put it on the internet for everyone to read. You have to be diligent in separating fact from fiction. If you are skeptical you may have to do your own research to see where the information originated. Do not believe everything you read just because it states it was from a study as it may not be reliable or truthful. Both of these studies had interesting information, however since they both were lacking sufficient data it was hard to determine if the studies were completely honest and adequate or not.
Toombs, R. J., Ducher, G., Shepherd, J. A., & Souza, M. J. (2012). The impact of recent
Examination to get in the Hong Kong University. So I stayed in Hong Kong and studied.
Time-phased project work is the basis for project cost control. Work package duration is used to develop the project network. Further, the time-phased budgets for work packages are timetabled to establish fiscal measures for each phase throughout the project. The time-phased budgets are to emulate the real cash needs of the budget, which will be used for project cost control. This information is useful to estimate cash outflows. The project manager's attention is on when the costs are to occur, when the budgeted cost is earned, and when the actual cost materializes. This information is made up to measure project schedule and cost variances (Gray & Larson, 2005). The following are typical types of costs found in a project:
Risk management is a major success key of project management in business world. With major budget overruns in parallel with significant delays, Sydney Opera House is a real example of poor risk management. Risk management requires effective planning, budgeting, and scheduling. First of all, the highest risks should be identified and evaluated in order to find methods to reduce their impact and exposure. Then, factors that cause risk should be addressed while factors that only correlate with the negative impact but do not affect it may be omitted. At this stage, interrelation between various risks should be accounted for to spot the core factors that should be treated in order to ensure effectively and stability of the project's functioning.
I have used this journal as a source to many of my researches before and I find them to be very reliable. Statistics stated in this particular article are well sourced, and I have not discovered any sourcing errors, as well as grammatical errors. This source is not objective, but it is not as biased as some of the other articles I have come across on the same topic. I do not believe that the article’s lack of objectivity takes away from its credibility. All of the claim are well documented, and the goal of this article is to bring light to the issue.
Project management is said to be completed within time when it completed within the “triple constraints”: cost, time and quality. And in a lot of causes, one them is sacrificed so as to meet the other two. Project managers prioritize which ones are the most important.
Gibling C. 2013. Construction Process and Post Construction Impacts of the Palm Jumeirah in Dubai, United Arab Emirates. Memorial University.
With forecasting software, many complex statistical forecasting techniques can now be used to forecast construction cost escalation. Univariate time series method, cannot predict turning points. It follows the existing pattern of the data. Multivariate forecast methods are dependent on the accuracy of the explanatory variables used in the forecasts. One of the main difficulties in using the multivariate forecast method is the identification of statistically significant explanatory variables. The accuracy of the multivariate forecasts depend on the accuracy of the explanatory variables used to make the forecasts. The analytical forecasting techniques are only valid for short-term forecasting in stable condition, generally less than one year. No analytical forecasting technique is capable of long-term forecasting of cost escalation. Hastak et al (1996) have carried out a study on cost management planning support system for project cost control strategy and planning (COMPASS). It was presented as a new paradigm and a management tool for formulating effective strategies for project cost control. The study found that through the life cycle of a project COMPASS methodology assists management in evaluating the potential degree of cost escalation. The study identified attributes such as management errors, regulatory
Cost Analysis is an aspect of estimation that applies both formally and informally to the aspect of costing. Cost analysis is a formal discipline used to help appraise, or assess, the case for a project or proposal, and is an informal approach to making decisions of any kind. It is ultimately an economic tool to aid in logical decision making. In the case of construction cost estimates, the next step would be the cost analysis process. The sole purpose is to determine if the completed estimates are reasonable. Usually comparisons are made with similar projects done in the past to see if the number are within the same vicinity of each other. Though the estimates may differ from case to case, if the cost estimate is significantly higher or lower than the normal ra...
Brooke (1997), explains Estimation as the technical procedure of anticipating the value of the project. Building construction estimation is the process of acquiring the construction value for the whole project before the project starts. Thus, construction attaining process depends hugely on financial management to sustain workability and smooth operations. The delay in construction is a global issue which is due to improper preparation of estimates and lack of drawings (Ajanlekoko, 1987). In accordance to Gkritza (2008), the source of delay in a project are identified to be in the initial stages, like bad quantification, errors in design and ground conditions. Thus, the purpose of a proper estimate is to foretell the cost needed to finish the
What are the results of the study? Was the data collection accurate? Was it analyzed properly?