Impact Of The Construction Industry On The Uk Economy

A stakeholder analysis is a process for providing insights into, and understanding of, the interactions between a project and its stakeholders. It is a powerful tool to help project members identify and prioritise stakeholders who can have an impact on project success. It can prompt thinking about the type of influence individuals have and in what way they might be an asset (or hindrance) to achieving successful outcomes. It is an essential starting place for understanding critical stakeholders and is the first step for developing engagement strategies for building and maintaining the networks that are necessary for the delivery of successful project outcomes.

Key outputs in this phase are the Projects Requirements definition, the capability and capacity assessment, project delivery strategy and the Project Management plan. The role of the construction/ project manager in this phase is, once project authorized, it is the project manager’s responsibility to implement the project. In terms of the Project Requirements Definition the, the project manager refines and details the project authorization and details what the project is required to accomplish in terms of the products/services the project will deliver and the scope of work that needs to be done. The project manager must provide project team members, corporate sponsors, and other stakeholders with a common understanding of what the project is all about, and is the authoritative reference document that defines the project.

Cost versus benefit should run through every business decision” is the opinion expressed by Evan Davis in 2007 as part of his article on value engineering. Value engineering involves providing the most efficient product or service possible (Davis 2007), which is comparable to rational organisational design, which generally strives to create the most efficient organisation possible. However there are a few different approaches to maximising efficiency through rational organisation which will be mentioned in this essay.

First, project stakeholders provide valuable information into the processes that creates the outputs. The stakeholders could be internal or external to the organization and their interest level could vary depending on impact of the output.

Construction projects are always unique and risks raise from a number of the different sources. Construction projects are inherently complex and dynamic, and involving multiple feedback processes. A lot of participants – individuals and organizations are actively involved in the construction project, and they interests may be positively or negatively affected as a result of the project execution or project completion. Different participants with different experience and skills usually have different expectations and interests. This naturally creates problems and confusion for even the most experienced project managers and contractors.

EC Harris Global Construction Report 2013 has indicated that failure to communicate effectively among architects, designers, contractors and procurement teams in the construction industry features first in the list of reasons why building trade has remained a hugely fragmented industry in UK lagging behind the rest of the international community. As per the officials of Construction Industry Council, separate and uncoordinated involvement of a designer, architect, an engineer and a building contractor who finally arrives to undertake the actual work itself will lead to substandard work and increased financials (Opler& Sokobin, 1995). On the legal side, there has been an assertion that legal contracts of collaboration is becoming obsolete and will remain obsolete as long as constructor and employer recognise their mutual interdependence.

During the project planning phase, I can work effectively towards the development of project management subsidiary plans to execute, monitor and control and close projects. I will contribute towards the planning of the scope in assuring that the project includes all the work required and only the work required. I will do this by conducing interviews, focus group, facilitated workshops etc., I can clearly define and document stakeholder needs to meet project objectives that will be

According to the Project Management Body of Knowledge (PMBOK) (2013), any individual that can or may impact, influence, or alter a project should be identified and have their interest documented. This is knowns as the identifying stakeholder method (PMBOK, 2013). When all stakeholders are acknowledged and their interest documented, they all must be managed continuously throughout the entire project cycle. Furthermore, a tailored process of engagement must be part of the management process to account for personality variances.

With the rapid change of the world, thought of management, theory and practise keeps on changing. It has been transformed through innovation. Taking into consideration the uncertainty surrounding the construction industry, it is essential paying attention to how people work within an organisation that has set goals that needs to be achieved. To be able to achieve these objectives, it is necessary to understand management relating issues such as culture, motivation, leadership and issues relating like coordinating, planning and controlling. Understanding the way people and organisations work is very vital when it comes to the built environment. As a Quantity Surveyor some of my duties are to deals with people, technical

This essay will critically analyze the following statement: “The First step in making project management work must be a complete definition of the boundaries across which the project management must interact” (Kezner, 2009 p 381) by: detailing the importance of planning, the importance of defining boundaries, and

There however are challenges in the industry occasioned by uncertainty on future spending on construction projects by the government. Moreover, the cost of doing business and the ability to increasingly make revenue have created a challenging environment for the construction firms. Therefore stakeholders in the construction industry are concerned with whether the government would increase its spending and whether the public construction projects will be available in the future since less than 10 percent are currently financing their clients.

Keeping all this in mind, builders have to work alongside clients to satisfy their project needs. Projects are also being built quicker because of the demand to occupy them instantly.

This study discuss factors influence project context and progress in environment and also highlighted that, communication is an important issues when conducted projects in a environment with different work culture, a multiple players that has large scale project having their own smaller size, but full scale project covers wider particular area, involves organisational finances and capabilities that is beyond the capacity of one organisation which are called project of projects. Therefore the beginning of development and implementation of such project are not appropriately considered and communicated to the stakeholders, in one hand this can carry on host of developing change in the

Stakeholders are an integral part of a project. They are the end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of your completed project. Stakeholders are any individual, group or business with a vested interest (a stake) in the success of an organization is considered to be a stakeholder. A stakeholder is typically concerned with an organization delivering intended results and meeting its financial objectives. It is extremely important to involve stakeholders in all phases of your project for two reasons: Firstly, experience shows that their involvement in the project significantly increases your chances of success by building in a

The construction industry much like other industries is dependant with the distribution of “scarce resources” (Drake,1994). Many of its resources known as the factors or production i.e. labour, capital, land etc. are limited (Gregory-Mankiw, 2008), however, wants and desires within the industry are infinite (Myers, 2013). Kishtainy notes that this creates two problems; at any given time, there will be a fixed number of resource, against numerous wants. Sloman 2003 adds that in an effort to rectify this, he argues that we must make choices, in terms of choices within the construction industry Myers suggested that firms need to considered their investments made, how they construct and for whom they construct for.