Construction projects require the meticulous planning of milestones, building phases, material deliveries on a ‘just in time’ basis, the appropriate workforce for each phase of the project, and all necessary equipment for each construction task. Precise cost calculation is critical prior to the signing of a contract, since contracts are usually for a turnkey solution at a specified price.
Once a contract has been won the major challenge is project control. This involves analysis of milestones met, time and phases elapsed, materials and other resources consumed, with constant comparison to the planned and contracted values, so that preventive measures can be taken if deviations have occurred. Instant access to management information is essential.