Instruments to support decision competencies of an investment project manager

From among many competencies of a manager, the abilities of team, project and organization management become especially important. However, to make right decisions, one needs to have appropriate tools supporting effective company management. In case of companies carrying out investment, modernization or innovative projects, it is especially important. Implementation of those projects takes place in various conditions resulting from changing and turbulent environment. Thus, if the manager does not have sufficient information support, provided in time and allowing for effective decision making, which mitigates negative effects of previous actions, he is basically doomed to failure. In such a case, what decides about the situation in the project execution process is a coincidence, not intentional actions of the staff, based on their knowledge about potential risks. Such a knowledge, gained early enough, allows for taking more effective corrective actions. This paper is an attempt to define an operational model of a company along with principles of monitoring actions of an enterprise that carries out projects and functions in the current economic situation, illustrated by an example of a construction company. Its implementation is supposed to provide the managing staff with stores of information that efficiently support the company management process

Electronic Construction Collaboration System – Phase III, December 2011

This phase of the electronic collaboration project involved two major efforts: 1) implementation of AEC Sync (formerly known as Attolist), a web-based project management system (WPMS), on the Broadway Viaduct Bridge Project and the Iowa Falls Arch Bridge Project and 2) development of a web-based project management system for bridge and highway construction projects with less than $10 million in contract value. During the previous phase of this project (fiscal year 2010), the research team helped with the implementation process for AEC Sync and collected feedback from the Broadway Viaduct project team members before the start of the project. During the 2011 fiscal year, the research team collected the post-project surveys from the Broadway Viaduct project members and compared them to the pre-project survey results. The results of the AEC Sync implementation on the Broadway project were positive. The project members were satisfied with the performance of the AEC Sync software and how it facilitated document management and its transparency. In addition, the research team distributed, collected, and analyzed the pre-project surveys for the Iowa Falls Arch Bridge Project. The implementation of AEC Sync for the Iowa Falls Arch Bridge Project appears to also be positive, based on the pre-project surveys. The fourth phase of this electronic collaboration project involves the identification and implementation of a WPMS solution for smaller bridge and highway projects. The workflow for the shop drawing approval process for sign truss projects was documented and used to identify possible WPMS solutions. After testing and evaluating several WPMS solutions, Microsoft SharePoint Foundation’s site pages were selected to be pilot-tested on sign truss projects. Due to the limitation on the SharePoint license that the Iowa Department of Transportation (DOT) has, a file transfer protocol (FTP) site will be developed alongside this site to allow contractors to upload shop drawings to the Iowa DOT. The SharePoint site pages are expected to be ready for implementation during the 2012 calendar year

Implementing 5D BIM on construction projects: Contractor perspectives from the UK construction sector

This is an accepted manuscript of an article published by Emerald in Journal of Engineering, Design and Technology on 09/05/2020: https://doi.org/10.1108/JEDT-01-2020-0007 The accepted version of the publication may differ from the final published version.Purpose The purpose of this paper is to report on primary research findings that sought to investigate and analyse salient issues on the implementation of 5D building information modelling (BIM) from the UK contractors’ perspective. Previous research and efforts have predominantly focussed on the use of technologies for cost estimation and quantity takeoff within a more traditional-led procurement, with a paucity of research focussing on how 5D BIM could facilitate costing within contractor-led procurement. This study fills this current knowledge gap and enhances the understanding of the specific costing challenges faced by contractors in contractor-led projects, leading to the development of 5D framework for use in future projects. Design/methodology/approach To develop a fully detailed understanding of the challenges and issues being faced in this regard, a phenomenological, qualitative-based study was undertaken through interviews involving 21 participants from UK-wide construction organisations. A thematic data analytical process was applied to the data to derive key issues, and this was then used to inform the development of a 5D-BIM costing framework. Findings Multi-disciplinary findings reveal a range of issues faced by contractors when implementing 5D BIM. These exist at strategic, operational and technological levels which require addressing successful implementation of 5D BIM on contractor-led projects adhering to Level 2 BIM standards. These findings cut across the range of stakeholders on contractor-led projects. Ultimately, the findings suggest strong commitment and leadership from organisational management are required to facilitate cost savings and generate accurate cost information. Practical implications This study highlights key issues for any party seeking to effectively deploy 5D BIM on a contractor-led construction project. A considerable cultural shift towards automating and digitising cost functions virtually, stronger collaborative working relationship relative to costing in design development, construction practice, maintenance and operation is required. Originality/value By analysing findings from primary research data, the work concludes with the development of a 5D BIM costing framework to support contractor-led projects which can be implemented to ensure that 5D BIM is successfully implemented

Determining the basic principles in managing project schedule for construction.

The application of the scheduling software has been quite popular in Malaysia recently. Planning software like Microsoft Project and Primavera had been used to develop the schedule for construction project for the purpose or project monitoring and control. Many clients organization have made the task to submit computer generated schedule as mandatory. However in real practice the schedule submitted has not been very useful for the client. In some instances the schedule has been ignored once submitted to the client. There are many problems associated to this situation. Among them is due to the absent of the standard guideline that can be used to manage the schedule itself. The contractor. Contractor has been prepared the schedule based on their own assumption and without much consideration for actual application for the project later. Therefore this short term research has been conducted with the main aim to develop such guideline. The methodology adopted for the study includes the interviews with panel of professional in construction and questionnaire survey. The development of the guideline is based on the feedback by the respondents of the questionnaires survey conducted. Prior to that, the research has also investigated the current state of arts of the scheduling practice in Malaysia and its limitation. The major finding of the research is the development of the guideline for managing the scheduling process. This guideline can be used by the major client to regulate the process of preparing, submission and updating the project progress. It is expected that this schedule can be improve further by improving its level of comprehensiveness

A decision support model for construction cash flow management

The excessive level of construction business failures and their association with financial difficulties has placed financial management in the forefront of many business imperatives. This has highlighted the importance of cash flow forecasting and management that has given rise to the development of several forecasting models. The traditional approach to the use of project financial models has been largely a project-oriented perspective. However, the dominating role of “project economics” in shaping “corporate economics” tends to place the corporate strategy at the mercy of the projects. This article approaches the concept of cash flow forecasting and management from a fresh perspective. Here, the use of forecasting models is extended beyond their traditional role as a guideline for monitoring and control of progress. They are regarded as tools for driving the project in the direction of corporate goals. The work is based on the premise that the main parties could negotiate the terms and attempt to complement their priorities. As part of this approach, a model is proposed for forecasting and management of project cash flow. The mathematical component of the model integrates three modules: an exponential and two fourth-degree polynomials. The model generates a forecast by potentially combining the outcome of data analysis with the experience and knowledge of the forecaster/organization. In light of corporate objectives, the generated forecast is then manipulated and replaced by a range of favorable but realistic cash flow profiles. Finally, through a negotiation with other parties, a compromised favorable cash flow is achieved. This article will describe the novel way the model is used as a decision support tool. Although the structure of the model and its mathematical components are described in detail, the data processing and analysis parts are briefly described and referenced accordingly. The viability of the model and the approach are demonstrated by means of a scenario