What does project management mean in construction?
Construction project management involves directing and organizing each part of the project life cycle, from ideation to completion. … Construction project management is a complex discipline that requires addressing many important concerns, including cost control, scheduling, procurement, and risk assessment.
Why is project management important in construction?
Why is the Project Manager so important? Put simply, the Project Manager (PM) is responsible for the success of a construction project. They oversee every aspect, including the planning, execution, monitoring, control and closure. Project Managers ensure that timeframe targets and budgets are met.
What are the 6 stages of construction?
As a general rule, the amount you pay at the different stages of construction is as follows:
- The deposit: 5%
- The slab or base stage: 15%
- Frame stage: 20%
- Lockup stage: 20%
- Fit-out or fixing stage: 30%
- Practical completion stage: 10%
What is project management meaning?
Definition. Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget.