Construction Management Strategies. A Theory of Construction Management

The construction industry faces continual challenges and demands, due to market conditions and coercion by governments, for improvements in safety, quality and cost control, and in the avoidance of contractual disputes. To meet these challenges construction enterprises need to constantly seek new directions and business models in construction management. A number of tools, methods and concepts have been developed and advocated as aids to achieving improved performance, but many in the industry find them confusing or are sceptical of their relevance. The third edition of Construction Management: New Directionsbrings together, in a single volume, detailed discussion of a range of contemporary management concepts which are relevant to the construction industry, including strategic management; benchmarking; reengineering; partnering and alliancing; enterprise risk management; total safety management; total quality management; value management and constructability. It provides a straightforward, accessible and objective account of these concepts, showing how they interrelate and can be used to improve the performance of the construction firm. This research based text will be essential reading for industry leaders and practitioners, as well as researchers, postgraduate and senior undergraduate students. From a review of previous editions I am in no doubt that this book will quickly become a favourite among students and practitioners alike —Construction Manager

Construction Management is a wide ranging discipline, but ultimately it is a demanding, hands-on discipline concerned with the management of people, plant and materials, all mobilised to complete a building project safely, on time, on budget and to the client’s satisfaction. Management of Construction Projects is a highly illustrated series of case studies based on seven live construction management projects, demonstrating the very practical nature of managing projects. The detailed case studies cover a variety of construction projects, varying in value from ?1million to ?117 million, including a major inner city office block, a portal framed factory unit, a university refurbishment project, a superstore & car park and a new school building. The case studies emphasise detailed on site management procedures and identify a predominantly functional approach to managing projects. A number of related chapters covering practical and theoretical aspects of construction management support and illustrate the individual case studies. With a strong emphasis on the practical nature of the subject, Management of Construction Projects is an ideal introduction to the subject for all students on construction and related degree and diploma programmes. It will be of particular interest to students preparing for the CIOB EPA programme and the new NVQ courses at level 4 and 5 in construction management.

Value Management is a philosophy, set of principles and a structured management methodology for improving organisational decision-making and value-for-money. The second edition builds on the success of the first edition by extending the integrated value philosophy, methodology and tool kit to describe the application of Value Management to the areas of service delivery, asset management, and, Programmes, in addition to Projects, products and processes. Value Management is a well-established methodology in the international construction industry, and in the UK has been endorsed as good practice in a range of government sponsored reports. In this book the authors have addressed the practical opportunities and difficulties of Value Management by synthesising the background, international developments, benchmarking and their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice. The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management. It has been thoroughly updated, and a number of new chapters added to encapsulate further extensions to current theory and practice. In particular, the new edition responds to: A range of recent UK industry and government publications; and most notably BS EN 16271:2012 – Value management: Functional expression of the need and functional performance specification; the imminent update of BS EN 12973:2000 Value Management; BS EN 1325 Value Management – Vocabulary, Terms and definitions; the changes to «Value for Europe» governing the training and certification of Value Management in European Union countries; the UK Government’s Management of Value (MoV) initiative, together with other leading reports, international guidance and standards on Value Management. Research in Value Management undertaken since publication of the first edition. Changes in Value Management practice particularly in Programmes and Projects. Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation. Initiatives in asset management initiatives covering the management of physical infrastructure, for example the recent launch of a suite of three standards under the generic title of BS ISO 55000: 2014 Asset Management, and its predecessor BSI PAS55 2008 “Asset Management: Specification For The Optimized Management Of Physical Assets” The second edition contains a dedicated chapter of exemplar case studies drawn from the authors’ experience, selected to demonstrate the new areas of theory and practice. An Appendix includes an extensive set of tools and techniques of use in Value Management practice. Construction clients, including those in both the public and private sectors, and professionals such as construction cost consultants, quantity surveyors, architects, asset managers, construction engineers, and construction managers will all find Value Management of Construction Projects to be essential reading. It will also be of interest to researchers and students on construction rela

This new edition of a core undergraduate textbook for construction managers reflects current best practice, topical industry preoccupations and latest developments in courses and fundamental subjects for students. While the construction process still requires traditional skills, changes over recent decades today demand improved understanding of modern business, production and contractual practices. The authors have responded accordingly and the book has undergone a thorough re-write, eliminating some of the older material and adding new processes now considered essential to achieving lean construction. Particular emphasis is given, for example, to supply chains and networks, value and risk management, BIM, ICT, project arrangements, corporate social responsibility, training, health and welfare and environmental sustainability. Modern Construction Management presents construction as a socially responsible, innovative, carbon-reducing, manager-involved, people-orientated, crisis-free industry that is efficient and cost effective. The overall themes for the Seventh Edition are: Drivers for efficiency: lean construction underpinning production management and off-site production methods. Sustainability: reflecting the transition to a low carbon economy. Corporate Social Responsibility: embracing health & safety, modernistic contracts, effective procurement, and employment issues. Building Information Management: directed towards the improvement of construction management systems. The comprehensive selection of worked examples, based on real and practical situations in construction management and methods will help to consolidate learning. A companion website at www.wiley.com/go/MCM7 offers invaluable support material for both tutors and students: Solutions to the self-learning exercises PowerPoint slides with discussion topics Journal and web references Structured to reflect site, business and corporate responsibilities of managers in construction, the book continues to provide strong coverage of the salient elements required for developing and equipping the modern construction manager with the competencies and skills for both technical and business related areas.

The cost manager/quantity surveyor plays a pivotal role in the financial and contract management of construction projects, although the exact nature of the service they provide depends on the project employer’s terms of engagement. This can mean acting as consultant in a range of roles including cost and advisory services for budget setting to initiate a project, cost management through the design and construction phases, contract administration and acting as the client side project manager to oversee the entire building process. Cost Management of Construction Projects focusses on the cost manager/quantity surveyor engaged by the project client, and discusses key elements that help drive project success including measurement (based on the New Rules of Measurement published by RICS), procurement, cost planning, contract administration and project cost management. With examples, it provides a thorough guide to the role in the workplace and in the field, directly addressing the day to day situations faced by the cost manager/quantity surveyor. Donald Towey MRICS has extensive experience of the construction industry. His experience began as an estimator with a glass/glazing contractor in Manchester. Following a number of positions with UK contractors he relocated to Australia and has worked with a number of developers and main contractors, as well as doing freelance work. He is currently working in contracts management in Sydney.

An updated guide to the theory and practice of investment management Many books focus on the theory of investment management and leave the details of the implementation of the theory up to you. This book illustrates how theory is applied in practice while stressing the importance of the portfolio construction process. The Second Edition of The Theory and Practice of Investment Management is the ultimate guide to understanding the various aspects of investment management and investment vehicles. Tying together theoretical advances in investment management with actual practical applications, this book gives you a unique opportunity to use proven investment management techniques to protect and grow a portfolio under many different circumstances. Contains new material on the latest tools and strategies for both equity and fixed income portfolio management Includes key take-aways as well as study questions at the conclusion of each chapter A timely updated guide to an important topic in today's investment world This comprehensive investment management resource combines real-world financial knowledge with investment management theory to provide you with the practical guidance needed to succeed within the investment management arena.

This book presents an integrated value philosophy, methodology and tool kit for improving project delivery for clients, based on best practice. It combines the theory and practice of value management and is written in such a way that the theory, methodology, workshop styles, tools and techniques can be read independently if the reader wishes.

Retirement portfolio guidance for finance professionals Retirement is one of the most important parts of the financial planning process. Yet only two percent of financial advisors describe themselves as competent in retirement planning. Constructing a retirement portfolio is viewed as a difficult endeavor, and the demands facing financial advisors responsible for this task continue to grow. The pressures are particularly intense due to events such as the financial crisis and oncoming rush of retiring baby boomers. It is imperative that financial advisors be equipped and ready to create appropriate retirement portfolios. That's why Michael Zwecher-a leading expert on retirement income-has created Retirement Portfolios. Examines how portfolios should be prepped in advance so that the transition from «working» portfolio to retirement portfolio is smooth and seamless Outlines how to create a portfolio that will provide income, continue to generate growth, and protect assets from disaster Details the differences in managing a retirement portfolio versus managing portfolios during asset accumulation years The ability to create retirement portfolios and manage their risks are skills you must possess to be an effective financial advisor. Retirement Portfolios will help you develop these essential skills and gain a better understanding of the entire process.

As with all previous editions of Project Management in Construction, this sixth edition focuses on systems theory as the approach suitable for organizing and managing people skilled in the design and completion of construction projects. It discusses the many competing paradigms and alternative perspectives available, for example in relation to differentiation and integration, as well as the emerging study of temporary organizations and its relevance to construction project management. Whilst encompassing the need to develop further theoretical aspects of construction project organization theory, this edition has also enhanced the application of organization studies to practical issues of construction project management. More emphasis has been placed on the added complexity of construction project management by issues surrounding clients and stakeholders, and the control and empowerment of project participants. Additional focus has been placed on sustainability issues as they impinge on construction project management, on reworked views on supply chain management and on developments in partnering, together with clarification of the shifting terms and definitions relating to construction organization structures and their uses.

This book reviews the general theory of strategy, relates it to the particular circumstances of the construction industry, and shows how it can be applied in practice. It brings together ideas from economics, marketing, management, business and politics to develop strategic management for both contractors' firms and the associated professions. Substantial changes have occurred in the industry since the book was first published in 1991. This Second Edition reflects the major developments that have followed the Latham and Egan reports, and includes new chapters on international strategy and marketing, showing how they can contribute to the strategic planning of construction organizations. The book will provide a valuable tool for the strategic development of construction firms. «Ten years separate the editions during which period a significant number of British, (and other), construction firms which had survived generations of proprietors merged, changed beyond recognition or ceased trading. One can not but wonder if publication of a work on strategic planning some twenty year earlier might have saved some of them.» Construction Manager «The book presents the essential elements for managing at this higher level and should be a must for any construction professional who aspires to an executive position in industry as well as any student for construction management, project management and organizational management in construction. It comes highly recommended» Engineering, Construction and Architectural Management