Timing and Cost Planning in Construction

Question: Discuss about the Timing and Cost Planning in Construction. Answer: Introduction: The Project has well defined objective which has to be completed with limited time and number of resources. The activities which are undertaken in managing the resources are computation of the start and finish date, slack time related with every activities, allocation of resources in relation with time, and execution of activities. There are some variables which can affect the completion of the construction project in time. The variables can be categorised as duration of the activity, start and finish date, early completion of the project, late completion of the project, budget associated with the project, constraints related with weather, traffic, resource availability, skilled workers, equipment, and machines. The scheduling of the project must focus the material constraints which may affect the project control. The major task for the successful completion of the project is the scheduling of the resources. The growth of the industries and infrastructure of the nation depends on the working of the construction industry. The factors which should be looked by the construction industry while developing their project is economic development, environmental planning, and using of land. The industry faces many issues in the successful completion of the project such as overrunning of the cost and time, inadequate formulation of the project, and poor planning and management. The successful result can be achieved by good and proper planning, availability of resources, and proper organization. The warning mechanism should be used for predicting success and failure of the project. Project monitoring is the process which can be categorised as warning mechanism which is used for recording, reporting, and collecting of information which is related with the project completion. The process of monitoring focuses on predicting the project progress with respect to time, schedule, and utilization of resources. In this report, we are going to plan, track, and schedule for the proje ct of residency. In this paper, we will focus on identifying sequence of construction for building residency, duration of carrying out activities, development of plan and scheduling, analysing the reason of delay, estimation of budget, and recommendation for improving the planning and scheduling procedures. The scope of the project is to develop the overall strategy for controlling and completion of the project. It focuses on resources associated with the management of staff. The designing, execution, and procurement of should be scheduled within the report. The issues related with quality and cost should also be raised which are responsible for success and failure of the project. The schedule should be prepared which focuses on actual time and cost which is required for completing the construction of residency. Project Stakeholder: Project stakeholders are the individuals who take interest in the expectation of the outcome, project performance, and overall strategy developed for the project completion. The members who are known as stakeholder are owners, designer, project manager, sub-contractor, funder, suppliers, contractors, and social communities. For the efficient working of the project it is important to know about the requirement of the stakeholders (Abdullah, 2015). Project manager is the responsible person for knowing the interest and expectation of5 the stakeholders. From the analysis it has been seen that traditionally the list of stakeholder comprised of owners, designers, project holders, contractors, and sub-contractors. The attitude, opinion, and behaviour of project stakeholders play a vital role in decision making activities. The primary stakeholder of the project are categorised as owners, designers, project manager, and contractors (Horvath, 2011). The secondary stakeholders of the project ar e categorised as persons who are involved in sub-contracting process and supply chain. References: Polekar, U. (2015). Planning, scheduling, and tracking of a residential project.(1st ed.). Retrieved from https://www.ijarcsms.com/docs/paper/volume3/issue5/V3I5-0079.pdf Pawar, S. (2013).Timing and cost planning in construction project(1st ed.). Retrieved from https://www.ijsr.net/archive/v4i8/SUB157277.pdf Joshi, R. (2013).Resource scheduling of construction project: Case study (1st ed.). Retrieved from https://www.ijsr.net/archive/v4i5/SUB154213.pdf Abdullah, H. (2015).Understanding application of project planning and scheduling in construction project (1st ed.). Retrieved from https://portal.research.lu.se/portal/files/4293873/7767270.pdf Horvath, A. (2011).Construction for Sustainable development (1st ed.). Retrieved from https://www.ce.berkeley.edu/~tommelein/CEMworkshop/Horvath.pdf