Method for Developing a Construction Investment Project Management Plan
Methods for creating a plan for construction investment project management will help investors grasp the direction, balance the budget, and evaluate construction execution most accurately
A construction project management plan is the foundation for managers to plan the overall project, minimize risks, avoid wasting resources, and optimize construction quality according to standards. Unfortunately, in actual operation, up to 65% of plans fail due to too many risks that investors never considered. So, is there a method for creating a construction project management plan to implement and manage construction projects effectively?
Mục lục
1. What is a construction project management plan?
Creating a construction project management plan is a series of consecutive activities performed to achieve predetermined goals.
A construction project management plan is an indispensable element in a construction project. It helps to outline the series of tasks to be done, with corresponding time, resources, and methods to meet the construction requirements set from the beginning.
Thanks to the construction investment project management plan, relevant personnel (investors, contractors, design units, construction teams, suppliers, materials, warehouse, finance, etc.) will share an understanding of the implementation direction, balance cash flow, and mitigate adverse risks from the external environment. At the same time, it establishes evaluation standards, project management and supervision, and the most accurate quality, progress, and scope checks for the project.
Investors need a method for creating a plan for detailed construction management to help contractors, implementation units, and participating parties coordinate effectively to ensure solid implementation and construction.
| Read more: What is project management? The ISO-compliant project management process for businesses |
2. The Importance of Creating a Construction Project Management Plan
Creating a construction project management plan helps managers outline and monitor the involved factors (personnel, finances, schedule, tasks, etc.) to achieve the project’s goals on schedule, within budget, and by the original deadline.
When all departments in a construction project know the investor’s goals and their roles through the plan, they will coordinate and execute their tasks clearly and reasonably. Without a project management plan, all activities can easily go off track and become inefficient.
Creating a construction investment project management plan will limit overlap and complexity in handling tasks. It also helps construction companies increase stability and forecast risks to have appropriate contingency and adaptation plans.
A construction company must handle a large volume of work, from design and drawings to actual implementation. Each of these stages will have its own management criteria to evaluate the level, quality of completion, and the actual progress.
Creating a construction project management plan helps businesses determine what tasks to do first, what to do later, how the workflows in the construction project are proceeding, and whether adjustments are needed. Companies with a plan development method for project management can easily and accurately assess personnel quality and project implementation quality.
Currently, construction project management software has evolved with project planning features that simplify project management for businesses. With the “Make in Vietnam” construction project management software solution, 1Office is used by many businesses to manage numerous projects across various fields. With a user-friendly interface and a powerful set of tools for tracking, task assignment, and reporting, 1Office is considered an effective project management solution for any business.
3. Methods for Creating a Construction Investment Project Management Plan
There are many methods for creating a construction investment project management plan, but the most optimal is to build a work management plan based on the structure of each component of the construction project.
3.1. Overall Project Management:
– Goals to be achieved and the feasibility of the construction project
– Impact of the project on social and community factors
– Project planning and submitting proposals for approval
– Implementing the steps for designing construction drawings
– Organizing bidding to select the implementing unit…
3.2. Financial and 5M Resource Management:
* Financial flows:
– Estimated total cost for the entire project
– Accounting for specific expense lines corresponding to function and usage time
– Plan for managing cash flow, revenue, expenses, capital, and profit
* 5M Resources:
– Machinery and equipment
– Labor, partners, contractors
– Financial resources
– Work processes
– Supporting technology
3.3. Time and Project Schedule Management
– List of tasks to be completed
– Completion order by priority
– Resources for implementation
– Completion time
– Level and progress of project completion
– Inspection, review, and evaluation
| Read more: What is project progress management? An effective project progress management process for PMs – PMAs |
3.4. Construction Document and Contract Management
– Manage by contract type: construction, design, sales, equipment, consulting, implementation, etc.
– Negotiate, submit for signing, and stamp
– Handle issues arising during contract implementation
– Debt, reconciliation, and cost payment
– Acceptance and contract closing
3.5. Construction Project Execution Management
– Construction execution: quality, progress, workload
– Control construction safety
– Manage impacts on the surrounding geographical area and environment
– Equipment maintenance and installation
>> Read more: What are the most effective and convenient project management tools today?
3.6. Contingency Plan
– Assess the current situation, challenges, and forecast risks
– Causes and solutions
– Implement practical solutions
Conclusion:
Each method of planning construction investment project management has its own role and advantages for investors during execution. Depending on the scope, structure, and needs of the project, choose the appropriate management plan. If you still have questions, contact 1Office – the all-in-one business management platform – for the most dedicated and detailed consulting support. 1Office is proud to be the platform that helps managers build comprehensive construction project management plans, optimizing performance and costs in the market.
