Synopsis

On

Management Control of Projects in Construction Industry

Submitted to
The Director, School of commerece and management YCMOU, Nashik.

As parital fulfillment for the award of Master of Business Administration(MBA) By : _________________________ PRN :________________________

Under the Guidance of Dr /mr/mrs:________________________

A) INTRODUCTION :
Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholders needs and expectations from a project. (PMBOK 1996) Project management involves more than just what a project manager does, all team manager engage in some level of project management, whether meeting deadline, communicating with others, or estimating task durations. Everyone involved in the project contributes to its success. To understand project management you must understand the term project. The definition of a project is a unique endeavor to produce a set of deliverables within a clearly specified time, cost and quality constraints. (Project management guidebook, empowering managers to succeed 2003, PMG 2003) A project is a series of tasks, arranged in a defined sequence or relationship that produces a pre-defined output or effect. A project always has a start, middle and an end (Project management Institute, Body of Knowledge 1999, PMBOK) The difference between a project and standard business operations are shown below in bullet form;

Unique in Nature. They do not involve any repetitive processes. Every project undertaken is different from the last, where as operational activities often involve undertaking repetitive (identical) processes.

Have a defined timescale. Projects have a clearly specified start and end date within which the deliverables must be produced to meet a specified customer requirement. Have an approved budget. Projects are allocated a level of financial expenditure within which the deliverables must be produced to meet a specified customer requirement.

Have limited resources. At the start of a project an agreed amount of labour, equipment and material is allocated to the project.

Involve an element of risk. Projects entail a level of uncertainty and therefore carry business risk.

Achieve beneficial change. The purpose of a project, typically, is to improve an organization through the implementation of business change.

IMPORTANCE :
Commitment of funds and other resources is significant in most projects. In a competitive business scenario, new projects are essential for acquiring a competitive edge over the competitors. Successful project-as defined in terms of meeting the expectations of time,cost,benefits and quality standards-is very important for the growth of the firm. Sometimes one single failed project may fail a company or one successful project can change the fortune of the company. A successful project creatsshareholders value. New project signifies growth of the firm; a growing firm offers growth opportunities for individuals working in the company; a growing firm is better positioned to attract good manpower. Project activities break routines of the firm, which is important in maintaining the agilty of the firm.

SIGNIFICANCE :
The construction industry is essential to the develop of cities
communities,residences and industry, although it is also one of the most dangerous

Someone in the organisation needs to establish a vision of what needs to be

achieved, put in place the high level objectives that then need to be undertaken, make sure that programmes and projects have the right funding.

Resources (including skilled people, processes/procedures, infrastructure

and support functions) to make the necessary changes (project management is essential a mechanism of making 3rganization changes .

 Deleivering products/services to Customers - whether internal or external);

act as an arbiter in the case of conflict of issues and be the decision maker in the case of escalations. Management perform a number of other functions (to name but a few) such as political negotiations with Customers and Suppliers, enable inter-company communications, perform very useful stakeholder management unctions, sponsor projects and undertake portfolio management functions, set business goals to their subordinates, keep track of external factors that make affect the company (political, economic, sociological, technical, legal and environmental/ethical), in order to keep the wheels of the business going.

B) RATIONALE
Coordination among several departments and external agencies involved in the project is very difficult. Contract management, as a part of project management is extremely difficult. An ongoing project is more likely to create liquidity stress via pressure on the working capital, for the current operations. Allocation of internal resources for a big project may be done at the cost of small and routine capital expenditure, which may damage the current shape of business. It is easier to get distracted during the project implementation phase, rendering the project unviable. Organizational structure for projects and that for routine business operations are essentially different.this duality often cause problems in simultaneously managing operations and projects.

C) OBJECTIVE :
The project plan is the key document in the projects successful management and is developed at the initial project stage. This document is an organic one and is developed as the project develops. The two major processes are;

Project plan development taking the results of other planning processes and putting them into a consistant, coherent document. Project plan execution carrying out the project plan by performing the activities included therein.

The project plan provides a statement of how and when the project objective are to be achieved, by detailing the major milestones, products activities and resources on the project. It is a customized document developed for each project from a standard template, tailored to suit the project.

Guide project execution. Document project planning assumptions. Document project planning decisions regarding alternatives chosen. Facilitate communication among stakeholders. Define key management reviews as to content, extent and timing. Provide a baseline for progress measurement and project control.

D) HYPOTHESIS :
THE PRIMARY HYPOTHESIS : states that construction project management requires industry specific knowledge, specifically when managing projects in the built environment industries. SECONDARY HYPOTHESIS : The study aims: To establish the importance of knowledge for a project manager working on built environment projects. To establish and propose NQF levels for the required knowledge To develop a construction project management model. To increase the effectiveness of the project and probability of project success.

E) RESEARCH METHODOLOGY:
It is important for research to know not only the research method but also know methodology. The procedures by which researcher go about their work of describing, explaining and predicting phenomenon are called methodology. Methods comprise the procedures used for generating, collecting and evaluating data. All this means that it is necessary for the researcher to design his methodology for his problem as the same may differ from problem to problem.
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Data collection is important step in any project and success of any project will be largely depend upon now much accurate you will be able to collect and how much time, money and effort will be required to collect that necessary data, this is also important step. Data collection plays an important role in research work. Without proper data available for analysis you cannot do the research work accurately. Research needs to determine how data will be collected and interpreted. The data that is needed should be determined, as well as where the data is located, how the data will be obtained and how it will be interpreted 1) Primary data: In the literature section information was obtained using books, internet websites, articles, research papers and scientific journals. The tools used to obtain these resources were the library, the library catalogue and databases like SABINET, also accessible through off campus computers and the internet. In total 288 literature resources were reviewed. 2) Secondary data collection: The secondary data are those which have already collected and stored. Secondary data easily get those secondary data from records, journals, annual reports of the company etc. It will save the time, money and efforts to collect the data. Secondary data also made available through trade magazines, balance sheets, books etc. The data collection was aimed at study of project management in construction industries.

F) EXPECTED CONTRIBUTION
Both table work as well as field work will be needed for this project work. So that data collection will be made through various refereance Books, newspapers, web site and also we have to visits to various indutries, companies Etc. For the project we taken guildlines from the persons who completed MBA and some more teachers who have perfect knowledge about the company. We thankful to our senior students, study centre sir whichs gives more contribution to fullfil the project.

G) CHAPTERISATION :
1. Executive summary 2. Industry Profile 3. Bank profile 4. Research methodology 5. Data collection methodology 6. Analysis and interpretation 7. Findings and problem 8. Suggestion 9. Conclusion 10. Bibliography