Project management in condominium construction projects : a case study in Singapore

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Project management in condominium construction projects : a case study in Singapore

 

Author: Wang, Qian
Title: Project management in condominium construction projects : a case study in Singapore
Degree: M.Sc.
Year: 2012
Subject: Construction industry -- Management.
Project management.
Project management -- Singapore -- Case studies.
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Building and Real Estate
Pages: x, 114 leaves : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2554591
URI: http://theses.lib.polyu.edu.hk/handle/200/6890
Abstract: Cost performance is often the primary factor to evaluate project success or failure. Therefore, cost management definitely presents an essential function and responsibility associated with project management in the construction industry. However, due to the diversity of projects, lengthy time of production, high risks and uncertainties, environmental influences and multilateral cooperation amongst different project parties. it is always difficult to successfully and ideally conduct cost management and control in a real-life construction project. Meanwhile, critical literature review shows that most of the previous studies focus on theoretical research by means of modeling and simulation which is difficult to be applied in practice, particularly for the contractors' use. Thus, it would be meaningful to develop a systematic and practical framework for project cost management and control from a contractor's perspective. This dissertation intends to take such research based on a case study in Singapore that is relatively successful in practice of cost management and control, especially in the aspects of risk management, procuring method, value engineering, material wastage control, and budget control, etc. The effectiveness of risk management largely determines the cost perfonnance of a construction project and the "win-win" outcomes would be achieved between the contracting parties even in extremely awful circumstances as illustrated in this dissertation provided common targets and understandings established. The combination of separated procurement method with novated D&B is another shinning point for the case study project worthwhile recommended in other projects as an innovative but effective procuring approach. Different from the regular value management that is mainly dominated by client or its agent during design stage, most of such related work described in this dissertation is conducted in the process of construction and managed by the contractor. Since material cost accounts for a large proportion of the total construction cost to a particular project, productive methods of material wastage control to those 'labor-only' subcontractors, involving all the participants of the construction project including project managers, quantity surveyors, engineers, foremen, and even the workers, could greatly contribute the project cost control as well. In addition, this dissertation also illustrates some basic but practical knowledge concerning contractor's project cost control system comprising cost estimating, budget setting and management of actual and forecasted costs against the set budget based on the experiences acquired from the case study project. To sum up, this research represents a useful guide to the construction of condominiums associated with cost management and control, as well as, it would contribute contractors to the construction of other types of projects to certain extent.

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