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Project Management: Housing Construction Project by Edelco

Submitted by: Group 6

Project outline
About Edelco Project Definition: Scope Project Scheduling

Estimating Time and Costs

Crashing Opportunities
Reducing Project Duration

Risk Management Project Monitoring Recommendations

EDELCO: Housing Construction Project

Project Definition

Estimating Time and Costs

Project Activities

Risk Management
essential to successful project management addresses the uncertainty in project estimates and assumptions Effective only if applied with scheduling, budgeting, and change management Contingency planning is essential

A measure of variation in time and cost

Risk Management Framework

Four stages risk management process at ELDECO:

Risk Identification
Risks Quantification Risk Response

Risk Monitoring and Control

Stage 1: Risk Identification


Identify and name the risks Classify risk

Generic Specific

Example Vendor not meeting deadline, budget overrun, scarcity of resources etc

Stage 2: Risk Quantification

Stage 3: Risk Response

Avoid the risk by taking pro-active action


use another supplier if current supplier seems unreliable

Transfer the risk and make someone else responsible


Vendor is made responsible for a particularly risky part of the project

Accept the risk


The risk might be so small the effort to do anything is not worthwhile

Stage 4: Risk Control


continually monitor risks to identify any change in the status hold regular risk reviews identify new risks

Project crashing
Project statistics
Normal project duration 226 days Project cost under normal schedule 600 Cr. Design and regulatory cost .75 to 1 % Cost allocation on pro-rata basis

Assumptions

Labor cost constitute to about 35 % of the construction cost 20 % reduction in project duration causes 25 % increase in labor cost Material costs 10 % higher under crashing schedule Foundation and interior finishing are best suited for crashing

Project Monitoring
Monitoring is the systematic, regular collection and analysis of information to identify and measure changes over a period of time Purpose of monitoring Rescheduling the project Re budgeting the project Re assigning the staff

ELDECO: Project Monitoring Mechanism

ELDECO TOWNSHIP

FLATS

INDIVIDUAL HOUSE

SHOPPING MALL

COMMUNITY CENTER

PLAY GROUND

Project Manager 1

Project Manager 2

Project Manager 3

Project Manager 4

Project Manager 5

Methods of monitoring at ELDECO


First hand information. Formal reports Project status report Project schedule chart Project financial status Report Informal Reports. Graphic presentations.