Bank finance articles and tips

Like any other business activity, construction management is important in the successful implementation of a home construction project. In construction management, the homeowner hires a construction management professional to handle the supervision of all phases of the construction of the home building. It starts with the drafting of the construction plans (and in some instances include the conceptualization process) and terminates upon the final completion and turnover of the project. The main objective of construction management is to see to it that the construction plans and technical specifications are implemented in accordance with the construction contract executed between the homeowner and the building contractor hired by the former. Construction management is sometimes called construction supervision or contract supervision management. It is covered by a separate contract between the owner and the construction management consultant.

The jobs rendered by the construction management consultant are grouped as follows:

? In some cases, and at the discretion of the owner, the conceptualization of the project is assigned to the contract management professional.

? In charge of drafting and finalizing the construction plans including the details and technical specifications.

? Prepares the estimated construction cost of the project.

? Prepares guidelines in the pre-qualification of contractors and handles the bidding of the home construction project including the selection of the building contractor.

? Supervise the overall construction activities and see to it that the construction plans and technical specifications are followed.

? Evaluates the performance of the contractor and approves his billings.

? Enforces the provision of the construction agreement and sets rules on construction methodology and other aspects of the work.

? Conducts regular and final inspection of the project.

? Accepts the project upon final completion.

Construction management can be performed by the homeowner if he has the knowledge about the construction plans, technical specifications, cost estimates, all phases of the construction activities and capabilities in evaluating the bids of contractors. He can save on the management fees to be paid to the contract management consultant which is normally between five to ten percent of the construction cost. If the project is by management, the construction management is done away with by strictly adhering to the plans and specifications of the building project.

This aspect of consultancy work is handled by competent professional engineers and architects with proven track record in their field of expertise. A seasoned contract manager is one who is well versed on all aspects of the work under supervision. Do not compromise on this expert work just to cut your budget. Your best pick will show up on the completed home project.

Leonardo Puno is a home builder for fifteen years. Visit him at http://www.homebuildersdomain.com and share his vision of building "the house and the home."

By Leonardo G Puno
Article Source: http://EzineArticles.com/?expert=Leonardo_G_Puno