There are different types of construction cost estimation done by owner, contractor and engineer. They all have their own purpose to know in advance the expected cost of the project in varying degree of accuracy, at different phases of construction. ...
Construction Management
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Life Cycle Cost in Construction Projects and Time Value of Money
What is Life Cycle Cost in Construction Projects? Life cycle cost in construction projects is a process of economic decision analysis, which helps taking decisions on investments in new construction. These decisions on investments are analyzed for the payback over ...
Project Management Techniques- PERT, CPM, and Gantt Chart
This article gives you a holistic idea about two popular project management techniques: PERT and CPM. In this article, you will learn about the significance, uses, methodology of the techniques, and role of Gantt Chart in the project management. Abbreviations ...
SKILL SETS OF A PROJECT MANAGER
Project Management Skill sets There are many misconception about what it takes to become a project manager. Many people think that to become a project manager they must be technical expertise in the industry they are managing. Also, many people ...
FOUR PHASES OF PROJECT MANAGEMENT
We have learnt what is project management. There are four phases of project management which are required to manage projects efficiently on quality, time and costs. 1. Defining and organizing the project: Defining project is the first step in the ...
Planning of a Construction Project
Planning is the first step of construction project management philosophy of planning, organizing and controlling the execution of the projects. Construction project planning and project scheduling is two separate and distinct function of the project management. Here, we will learn ...
Costs Associated with Constructed Facilities
The costs of a constructed facility to the owner include both the initial capital cost and the subsequent operation and maintenance costs. Each of these major cost categories consists of a number of cost components. The capital cost for a ...
8 Types of Construction Companies
The construction companies are divided into different types depending upon the type of job the companies perform. The role in the construction such as acquisition of land, design, financial planning, execution, operating, maintaining and paper works denotes the construction company ...