...
present. A positive NPV for a project indicates the present value of the net gain corresponding to the
project cash flows.
2. Equivalent Uniform Annual Net Value. The equivalent uniform annual net ... available.
Implications for Design and Construction
Different perspectives and financial considerations also may have implications for design and
construction choices. For example, an important ... Different Forms of Ownership
178
t for a investment project x where x = 1, 2, refer to projects No. 1, No. 2, etc., respectively. Let C
t,x
be the annual cost at the end of year t for the same...
... ProjectManagement 7
2.3 Understanding Project & Management 9
2.4 Definition of ProjectManagement 10
2.5 History of projectmanagement 12
2.6 Construction as a vital sector 15
2.7 Project ... Page
Chapter Six: ProjectManagement Framework
79
6.1 Introduction 79
6.2 ProjectManagement Framework 80
6.3 Elements of project success 80
6.4 Key elements of constructionprojectmanagement 83 ... 7 ProjectManagement Functions:
Project management has developed a great deal in the last decades,
but the main functions of the project and its life cycle are still the basics of
project management. ...
... firms that
perform construction work for others, and is estimated to be approximately 85% of all construction
1
Project ManagementforConstruction
Fundamental Concepts for Owners, Engineers, ... on project management.
Chapters 1 to 3 present an overview of the constructionmanagement and design process which should
be of interest to anyone engaged in projectmanagementfor construction. ... costs in most construction projects. Since the costs of construction are ultimately
borne by the owner, careful financial planning for the facility must be made prior to construction.
Construction...
... temporarily assigned to a project. The following principles should be observed:
27
2. Organizing forProjectManagement
2.1 What is Project Management?
The management of construction projects requires ... between the two so that modern management techniques developed for general
management may be adapted forproject management.
The basic ingredients for a projectmanagement framework [2] may be ...
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2.7 Professional ConstructionManagement
Professional constructionmanagement refers to a projectmanagement team consisting of a
professional construction manager and other participants...
... Pre -Project Planning
Even before design and construction processes begin, there is a stage of "pre -project planning" that can
be critical forproject success. In this process, the project ... needs.
Example 3-14: The Project Definition Rating Index (PDRI) for Building Projects The
Construction Industry Institute has developed rating indexes for different types of projects to assess
52 ... design phase of the project life
cycle. That is why professional constructionmanagement or integrated design /construction are often
preferred by private owners.
3.10 Construction Planning...
... of freight delivery for very large projects.
Example 4-5: Freight delivery for the Alaska Pipeline Project [7]
94
Figure 4-2: Freight Delivery for the Alaska Pipeline Project
Example 4-6: ... Materials Management.
To illustrate the type of trade-offs encountered in materials management, suppose that a particular item
is to be ordered for a project. The amount of time required for processing ... specific jurisdiction rules for different trades set uniform hourly wage rates for journeymen and
offer formal apprenticeship training to provide common and equivalent skill for each trade.
Contractors,...
... or may not exist. For
example, in construction projects, the accounts for basic costs may be classified according to (1) labor,
(2) material, (3) construction equipment, (4) construction supervision, ... 5.3 to 5.6)
3. Adjust for inflation index
4. Adjust for local index of construction costs
5. Adjust for different regulatory constraints
6. Adjust for local factors for the new facility
Some ... California, for completion in 2003. For the
additional information given below, make an order of magnitude estimate of the cost of the proposed
plant.
1. In the total construction cost for...
... 900,000
600,000
1,000,000
100,000
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7.9 Construction Financing for Contractors
For a general contractor or subcontractor, the cash flow profile of expenses and incomes for a
construction project typically follows ...
Unless the project is very large in scope relative to the owner, a particular constructionproject is only
a small portion of the capital budgeting problem. Numerous construction projects may ... References
1. Au, T., and C. Hendrickson, "Profit Measures forConstruction Projects," ASCE Journal of
Construction Engineering and Management, Vol. 112, No. CO-2, 1986, pp. 273-286.
2. Brealey,...
... bulk of information associated with construction projects, formal organization of the
information is essential so as to avoid chaos. Virtually all major firms in the arena of project
management ... the scope and alternatives for organizing project information.
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14.2 Accuracy and Use of Information
Numerous sources of error are expected forproject information. While numerical ...
Information
14.1 Types of Project Information
Construction projects inevitably generate enormous and complex sets of information. Effectively
managing this bulk of information to insure its availability...
... of the project. Project scope
management.
3. How will we make it? Project scope management.
4. When will we do it? Project time management.
5. How much time will it take? Project time management.
6. ... it cost? Project cost management.
7. What makes it good? Project quality management.
8. How can we make sure it gets done? Project risk management.
9. What could go wrong? Project risk management.
10. ... benefit from projects and from good
project management, but in different ways.
External Projects: Making Money from Projects
Type 1 companies do external projects. Their customers pay for them to...
...
Project Integration Management 34
Project Scope Management 34
Project Time Management 35
Project Cost Management 35
Project Quality Management 36
Project Human Resource Management 36
Project ... completed before project
close out.
Ensure that excess property efforts are completed before project close
out.
Knowledge Areas Project Processes
36 Caltrans ProjectManagement Handbook
Project ... Approved Construction Contract
Project Lifecycle Construction Component
Caltrans ProjectManagement Handbook
23
Construction Component
After the construction contract for a Caltrans capital project...