Question

What are 3main reasons that project managers engaged on building and construction projects delegate out specific finacial control tasks to others

Answer 1

3 MAIN REASONS THAT PROJECT MANAGERS ENGAGED ON BUILDING AND CONSTRUCTION PROJECTS

PROJECT MANAGERS IS THE ONE WHO MANAGES THE WHOLE PROJECT. DAY TO DAY WORK IS CONTROLLED AND GUIDED BY THE PROJECT MANAGER. HE HAS TO EVALUATE HOW WELL THE PROJECT IS GOING ON AND BASED ON NEED TO PREPARE FOLLOW ON ACTION TO WHAT TO BE DONE

*HE HAS TO MANAGE PROJECT ADMINISTRATION

*HE NEED TO AWARE ABOUT THE WHAT SUPPORT NEEDED FROM THE MANAGEMENT AND HAS TO CONROL THE PROJECT.

*HE IS THE WHO PREPARES AND MAINTAINS THE PROJECT WITH OTHER SUPPORT STAFF AT EVERY DIFFERENT STAGE OF PROJECT AND EXECUTE PLANS.

SINCE HE HIS THE ONE WHO NEED TO PLAN ABOUT THE USAGE AND AVAILABILITY OF RESOURCE , HE NEED TO MANAGE THE WHOLE COST OF THE PROJECTS TOO. HOW MUCH COST DOES PROJECT TAKE UP AT DIFFERENT PLANNED STAGE OF THE PROJECT AND HOW TO LIMIT THE COST IN CASE IF EXCESS EXPENDITURE IS BEING MADE. THIS HAS TO BE DONE THROUGHOUT THE PROJECT LIFE CYCLE.

THERE IS ALSO INVOLVMENT OF MANY OTHER PEOPLE CIRCLING THE COST OF THE PROJECT AND THIS WHOLE THING HAS TO MANAGED. HE NEED TO GATHER DATA AND ANALYSIS OF IT NEED TO BE DONE,HE HAS WORK ALONG WITH STAFF MEMBERS OF SALES ANS ACCOUNTING SECTION TO COMPLETE THE THE PROJECT ACCORDING TO THE BUSSINESS NEEDS.

HE HAS TO COMMUNICATE WELL WITH TEAM MEMBERS AND EXECUTIVES SO HAS TO MEET UP THE GOALS OF THE PROJECT. OTHE MAIN CONCERN IS THE TIME MANAGEMENT AND OBSTACLES THAT NEED TO BE OVERCOME SO THAT PROJECTS GET COMPETED IN TIME OR ELSE WITH INCREASE IN TIME DURATION OF THE PROJECT THE OVER ALL COST OF THE PROJECT TOO INCREASES.