India, a Land Of Construction Projects

This technique of construction is a friendly and controlled environment, transported, positioned and assembled into a formation with least additional site work needed. Besides, industrialized building system (IBS) can be defined where all slab, wall, beam, column, and staircase are mass produced either in factory or at site factory with strict quality control according to Warswaski (1999). It can be defined by industrialized process which every building components are planning, prefabricated, conceived, transported and erected on site. (Thanoon & W. A. M., Peng, L, 2003). Hence, in simple form of definition of IBS is a construction system that built using prefabricated components based on Rahman and Omar (2006). This IBS system can be made using machine, formworks and other machinery

In 1379 IREMCO was established by a group of senior executives and construction industry participant inside IRANIAN Corporation and started its practice by engineering studies and evaluation of construction projects functionality.

The second company analysed was Global Construction Services (GCS) is an Australian owned company established in 2003. Global Construction Services (GCS) is an Australian owned company which was established in 2003. GCS offers a diverse range of products and services for all industries across Australia. They provide superior products and services including; Scaffold and Access Solutions, On-site Workforce, Plant Equipment, Formwork, Concreting and Specialised Site Services. Although the name suggests otherwise, Global Construction Services (GCS) solely provides their business locally in Australia, with the majority of their projects being undertaken in Western Australia.

The construction industry is a major contributor to the world wide. The long term objectives of any

One of the most fast emerging economies of the world-India, is on the drivers seat of a vibrant development in infrastructure like expressways, power plants, bridges, smart cities . India is sprinting fast to make up the lost time and catch up with the developed world and achieving better standard of living. Civil engineering will play a major role in changing the face of Indian panorama.

Construction industry’s workload is highly diversified. It involves numerous parties, various processes, different phases and stages of work, and many inputs from both the trades and specialists. Such workload and labour can be divided into two phases (Bajari and Tadelis, 2001). First, the design phase for the appearance, layout and function of buildings which involve consultants of various disciplines. Second, the actual construction process that directly produce the end product.

Gallagher Construction and Development are based in north London. They are a property development and refurbishment company. They have been in the construction industry for about twenty five years. They have a workforce of twenty directly employed and about fifty self employed workers at the moment.

Second construction Company is UEM Sunrise Berhad (UEMS). UEM Sunrise Berhad is a public-listed company and one of Malaysia’s

In India there are large no of suppliers available in the market in the construction industry.

Company’s mission to build a world class real estate development company with the highest business st&ards of Professionalism & customer services to contribute the growth of Indian

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.

Risk in Construction needless to mention, with huge money, comes the company of big risks. In the area of Indian construction, the risks are abundant, due to the involvement of legal, political, financial and cultural complexities. As far as construction in India is concerned, there is lack of experience, but the opportunities for growth for companies willing to enter the arena are immense. The domestic construction industry is growing at a rapid pace, due to high demand for housing and increase in expenditure on infrastructure. All of the most challenging projects across country involve a variety of complex processes working simultaneously. Every critical activity is associated with a risk and can negatively affect the project objectives, such as time and schedule, cost and quality of work. The number of risks arising from a task is directly proportional to the number of people working on it. Mismanagement is one of the various sources of risk. These days, most of the big projects are sublet to sub-contractors, and therefore risk assessment and mitigation has become more and more challenging. (McKinsey & Company, 2009) (Sharmila & Pimplikar, n.d.)

Over the next decade, Infrastructure construction is projected to grow by 128% in emerging markets, compared with 18% projected growth in developed markets. Demand for new housing projected to 2016 and growth in infrastructure projects, due to major work in the railway and water industries, also offer opportunities for expansion into these markets. (Claire Jamieson - RIBA, 2013)

In the Indian context, infrastructure development is critical for sustainable growth. It is often noted that poor infrastructure—a lack of water and sanitation, shoddy roads, and unpredictable energy supply- constrains foreign direct investment and overall economic potential. A key issue is of attracting private investors willing to participate in infrastructure projects given their complex and risky nature.

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.