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.

Project Management definition: Efficient and optimum utilization of given resources at a stipulated time is called project management. The concept of resources includes manpower or team, capital and time. The person who leads or manages the project (examples: bridge construction, building construction etc.) is called a project manager. An experienced project manager completes a project with high quality results using cost reduction technique and maximum resource usage....