Project management Essay Example | Topics and Well Written Essays - 500 words - 13

Project management - Essay Example The owner (occasionally also known as the client, if construction is being undertaken by a third party) tend to spend most of their time on stewarding to the managers. This means that the owners may not be focusing on quality nearly as it is expected of them (Othman, 2013). The second area that is challenging to the project managers is the cost of the project. In some cases, projects are commenced out with misrepresentation. The costs estimates for the project would be lower than the costs that can be used to bring to a completion the project (Couto, 2008). Last but not least, the contracting of work for a particular project can also present its own unique challenges. In an environment of limited labor and capitals, absence of competition in the contract bidding in the construction industry can upsurge the costs of the project (Othman, 2013). This absence of a modest bidding atmosphere can also be translated to mean that a parent company is not automatically getting the finest construction contractor for the project. The parent company would have no option but to settle for a mediocre contractor who may not perform their duties according to the laid down standards. This would potentially affect the quality of the final project. It is also of importance to note that contracts that are potentially reimbursable offer little or no incentive for the contractor concerned to undertake the work. This is due to job insecurity issues that would be involved with such kind of contracts. There are various management tools and methods that can be used to address these challenges. The plus, minus and interesting technique can be applied (Couto, 2008). This is a management tool whereby the pros and cons of a decision to construct a $ 60-million patient tower are appropriately considered before the decision can be made. Under this method, three columns are drawn which take into account the positive and negative points of a project as well as the uncertainties that may arise.