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QUIZ 2 IN CMPM

CPM can be described as the process of ____________, ____________ and _______________ the various activities involved in a construction project to achieve its objective.

What is the 3 reasons why construction project management is crucial

By creating realistic schedules, monitoring progress, and addressing delays promptly, project managers keep the project on track and minimize disruptions.

Effective project management ensures that construction projects are completed within the agreed-upon timeframe.

Project management enforces adherence to industry standards, codes, and regulations, ensuring that the project meets or exceeds client expectations.

By prioritizing quality throughout the construction process, the likelihood of defects and rework is reduced.

Construction projects involve multiple stakeholders, including clients, investors, and end-users.

Project management acts as the bridge between these stakeholders, effectively communicating progress, addressing concerns, and managing expectations.

Businesses that invest in established project management methods experience significantly reduced financial losses, as they are ____ times less likely to encounter failures in their strategic initiatives and achieve more reliable results.

Who is involved in Construction Project Management?

✓ Project Planning and Organization

✓ Resource Management

✓ Team Coordination and Communication

✓ Budget Management

✓ Risk Assessment and Mitigation

✓ Quality Assurance

✓ Project Documentation

✓ Problem-Solving and Decision-Making

Creating architectural plans and engineering designs.

✓ Assessing the structural integrity and feasibility of the

design.

✓ Collaborating with the construction project manager to

ensure that the design intent is successfully translated

into the constructed project.

✓ Obtaining necessary permits and approvals from

regulatory authorities.

✓ Subcontractors and tradespeople are hired to carry out

specific tasks within the construction project. They

contribute their specialized skills and expertise in various

trades, such as plumbing, electrical, carpentry, and more.

✓ The project management team coordinates with

subcontractors and tradespeople to ensure their work

aligns with the project’s objectives and schedule.

✓ Suppliers and vendors provide the necessary materials,

equipment, and supplies for the construction project.

They play a crucial role in ensuring the availability of

quality materials and timely deliveries.

✓ The project management team collaborates with

suppliers and vendors to procure the required resources

and manage inventory effectively.

The individual or organization for whom

the construction project is being undertaken. They

provide project requirements, specifications, and

funding.

Regulatory bodies that oversee

compliance with building codes, permits, and

regulations.

Professionals who conduct inspections to

ensure compliance with safety and quality standards.

Experts in specialized fields, such as

environmental impact assessment, sustainability, or cost

estimation, who provide advisory services during the

project.

Due to poor project performance,

organizations waste an average of $______

million for every $1 billion invested in

projects. This number is greatly

reduced with qualified construction

project management.

What are the Fundamentals of Construction Project Management

➢Clearly establishing project goals, scope, and

deliverables.

➢ Breaking down the project into smaller,

manageable tasks.

➢ Identifying key milestones and establishing

realistic deadlines for each phase of the project.

➢ Creating detailed schedules that outline task

dependencies, durations, and resource allocation.

➢ Leveraging project management software to

create and manage project schedules effectively.

➢ Clearly defining the roles and responsibilities of each team member.

➢ Ensuring that the project team consists of individuals with the

necessary skills and experience.

➢ Encouraging open and transparent communication within the project

team.

➢ Creating an environment that promotes collaboration, trust, and

mutual respect among team members.

➢ Offering guidance and support to team members, resolving conflicts,

and motivating the team toward project success.

➢ Conducting a comprehensive analysis of all project costs, including

labor, materials, equipment, and overheads.

➢ Leveraging industry reports and historical data to estimate costs

accurately.

➢ Accounting for unforeseen events or changes that may impact project

costs.

➢ Developing a detailed budget that outlines the allocation of funds for

each aspect of the project.

➢ Regularly tracking project expenses and making adjustments as

necessary to ensure adherence to the budget.

➢ Defining key performance indicators (KPIs) to measure project

progress and success.

➢ Regularly monitoring project activities, milestones, and deliverables.

➢ Effectively managing changes that may arise during the course of the

project.

➢ Documenting project-related information, decisions, and changes for

future reference.

➢ Preparing and distributing progress reports to stakeholders to keep

them informed about the project’s status.

Construction rework activities directly

result in productivity losses of up to

______________%. These losses can be avoided

with effective construction project

management.

What are the 3 Project Organization

➢ Most organizations are divided along

functional lines, that is, each

“division” is organized by work type,

such as engineering, production, or

sales.

➢ Projects are initiated and executed by

the

divisional managers.

➢ In this structure, project managers

usually don’t have a lot of authority to

obtain resources or to manage

schedules and budgets. They must

obtain approvals to utilize resources

from other departments, which can be

a complex undertaking.

➢ These companies do most of their

work on a

project basis and are

therefore structured around projects.

This includes contractors, consultants,

and service firms.

➢ Project managers are

usually full time

in the role.

➢Somewhere in between (a hybrid).

➢ Project managers have a

bit more

authority without losing focus on the

provision of functional services.

➢ In the typical matrix structure, a

project manager is assigned from

within one of the functional

departments in either a part time or

full time capacity.

Engineering contracts might not be the most exciting

part of your job, but they are by far one of the most

important. Without a good solid contract in place, your

projects can easily fall apart.

4 Types of Contracts and Specifications

➢ Value engineering is a systematic and organized approach to

providing the necessary functions in a project at the lowest cost.

➢ Value engineering promotes the substitution of materials and methods

with less expensive alternatives, without sacrificing functionality.

➢ Value engineering is often broken into six steps or phases starting with

generating ideas and ending with change implementation.

➢ Value engineering is primarily focused on the use, cost, esteem, and

exchange values.

➢ The ultimate formula for value is often defined as function divided by

cost, with value engineering striving to maximize function while

minimizing cost.

Steps in Value Engineering:

Steps in Value Engineering

Construction estimating is a foundational principle

in forecasting the cost of construction of a

structure. Project owners also use construction

estimation to determine a project’s

feasibility, scope, and the necessary

budget allocations.

Proper cost estimates for construction prevent the

contractor from losing money and the client from

overpaying.

A conceptual estimate is a high-level

cost estimate developed in the early project stages. It's

based on limited information and typically used to assess

feasibility and scope.

A __________ is a more detailed

estimate that's created as the design progresses; it uses

schematic or preliminary drawings to refine cost projections

and align with project goals.

This construction estimate is prepared by

contractors for bid submission. The _____ details the

costs based on specific project plans and specifications to

compete for the job.

A ___________ is a detailed estimate

used during construction. Its purpose is to track actual costs

against budgeted amounts and help manage project

finances.

A ___________ is used to assess

whether a project is financially viable; it generally considers

land, materials, and labor costs at a high level.

This is a rough construction

estimate often based on historical data or past projects. An

____________ provides a general idea of costs

with minimal design information.

The __________ estimate breaks down costs

per unit (e.g., per square foot or per cubic yard) and is used

for comparing bids or tracking costs on large-scale projects

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