Strengths And Weaknesses Of The Construction Industry

The current United States economy, more specifically the housing market, has had great affects on the construction industry with unemployment currently floating around 30%. Canadian Chemical, a global provider of better quality products and services is one of the many commercial construction companies that are experiencing problems. More construction companies are following a, “the low bidder gets the job,” mentality versus providing true quality products and customer service, which in return results in a company like Canadian Chemical to lose sales. TJ Wood who is the Vice President of Sales for Canadian Chemical understands the dilemma and is unsure how to better generate sales for the company. After reviewing the sales representatives, products being sold, selling expenses, and the income statement it is evident changes need to be made in order to remain relevant as a top seller in the industry.

This is the problem which may happen before project manager was appointed due to lack of capital with the stake holders. Or this can also happen if the project manager is not organized and has not done proper planning. So project manager can exclude this problem by sustainable use of resources at the construction site.

This report provides an analysis and an evaluation of the downturn of the economy and how it impacted the construction industry and manufacturing industry. It will also detail the moment when the economy was rebounding and how we can see an increase in the construction industry and manufacturing industry at this time. Methods of analysis include graphs showing construction plan reviews detailing years 2000-2015 as well as graphs detailing the rise and decline of jobs available in the construction industry. The report finds that the construction industry was directly affected by the recession and did indeed decline at a significant

In construction projects, mostly the firms (in this case the firms become client) do not have the skills or develop skills inside the firms to undertake the projects due to amount of the projects should be conducted or the complexity of the projects (Reve and Levitt, 1984). Therefore, the economic decision to conduct the projects is to procure them to third parties. However, more commonly the client agonize the final quality of the projects will meet standard requirements. Thus, impacts to involvement of complex contracts of construction procurement.

In recent years, there has been a considerable increase of pressure from clients for improvement in the delivery of construction projects. Innovation has been key in improving construction industry performance (Tavistock Institute, 1997).

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.

There are numerous challenges facing today’s construction manager. Some are new to the industry, and some are centuries old. Many of these challenges are a direct result of construction operations, while others a result of indirect, peripheral activities. A surprising number of challenges are not construction issues but must be addressed and managed by the construction manager (CM) to ensure project success. Some of the construction issues include workforce considerations, safety, time constraints, and

The Construction industry in the United States is a well-known sector of the Country’s economy. This sector of the economy has made tremendous impact as a result of the seasoned professionals who have come together in their various set skills to carry out functions as it relates to them. These professions usually comprises of the Architect, Project Managers, Construction Managers, Estimators etc.

In the year 2009, more than 150 incidents were reported where fatalities occurred due to workers colliding with construction equipment or other objects on site in The United States. (Marks and Teizer 2012). The number of these accidents causing deaths in this year accounted for approximately 18% of the total construction deaths and 3% of the total workplace deaths experienced that year (Marks and Teizer 2012). Construction Industry is considered as one of the biggest industries in the world. It plays a vital role in the economic growth of any country worldwide, as it contributes to a major portion of the gross domestic product of a country (Lee et al. 2009). In the U.S., it adds to almost 4.5% of the total GDP. Apart from this it also offers very high employment opportunities (Lee et al. 2009). Construction Industry while being one of the leading employing industries in the world also suffers from worker 's site safety issues. Managing the construction resources, such as equipment, labor and material is very important for any project to be successful.

Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Brazilian construction industry

The In recent decades Chinese construction firms have become important and influential players in the international market, over last decades, especially in developing countries in Asia, Africa and Latin America (Zhao, et al., 2009). The Chinese government?s strong support and encourag encouragement es has facilitated Chinese construction firms to explore pursue the overseas markets. The data from the China Statistics Yearbook (2015) displays states that the international turnover value produced by Chinese construction firms increased from $17.468 billion dollars in 2004 to 142.411 billion dollars in 2014; their overseas contracted value grew from $23.844 billion dollars in 2004 to $191.756 billion dollars in 2014; 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.

A construction industry has a direct role in socio-economic development. By constructing facilities and infrastructures, it provides the basis for other sectors like agriculture and manufacturing to grow. Afghan construction industry is among success story of reconstruction process of Afghanistan that began in 2001. Afghanistan construction industry is developing and has the capacity to reach to self-sufficiency. Their interaction with US Army Corps of Engineers (USACE) for more than 15 years familiarized them with all USACE requirements which are internationally accepted standards. Afghan firms can use these standards elsewhere in the world. The private sector has dramatically improved and if supported properly by the government, can become a reliable industry not only in Afghanistan but also in the region.

Since economic reformation in the mid 1980s, Vietnam has made efforts to develop market economy, and therefore, this country has achieved many significant goals, especially in the industrial and service sectors. Besides these successes, it cannot be denied that the construction industry has played an important role by contributing a large proportion in the national economy. The General Statistics Office of Vietnam (2007), for instance, showed that capital invested into construction was approximately 21,136 billion VND (1

Alrai ltd, is an Iraqi highly diversified company operating in the construction sector (steel and building materials). Alrai has entered the building and housing sector from many different angles, now they have a precast plant, a concrete mixing plant, and a land trading business, all located in Iraq.