The construction industry is a vital component of the Indian economy. It is highly responsible for propelling the overall development of our country. This industry encompasses a wide range of construction fields, including infrastructure and real estate. Each project is unique, and to manage it requires immense knowledge and utmost expertise. To suffice this, project management consultancy plays a vital role. Project Management consultancy offers effective management solutions to improve and increase the efficiency and outcome of the project. Project management consultants manage the project by applying their skills, knowledge, and expertise in the construction industry at all stages.
The project management lifecycle necessitates that consultants be proactive at all stages and create a win-win situation by always keeping the client’s specific requirements in mind. Broadly, it encompasses five project management phases as below;
- Conception and Initiation
- Definition and Planning
- Launch and Execution
- Monitoring and Controlling
- Project Closure
Conception and Initiation
The conception and initiation of the project is the beginning of the journey of project management. This stage is crucial in the transformation of an intangible idea into a concrete objective. The main element of this stage is to create a business case document that defines the entire project on a broader level. This document comprises the estimated results, reasons justifying the project’s worth, budget, a timeline of the project, and identifying key stakeholders. The Feasibility study is one of the vital steps at this stage. It checks whether there are enough resources and the required expertise to put the project into action. If everything is favourable during this stage, the panel takes the final call to go ahead with the project.
Next in line after conception is the thorough planning of the project. It needs to be carried out diligently as it would showcase the roadmap of the entire project. A good project plan should be well-defined, realistic, and clear so that the team can execute it efficiently. The core aspects of this stage should be a well-defined goal and scope of the project, define the deliverables, the precise distribution of responsibilities, budget review, and allocation. All the processes and protocols related to delivering project data, planning Human resources requirements, risk management plan to be considered and plan if any deviation occurs in the initial project plan.
Launch and Execution
The execution-the third stage of project management is the core of the project. This is the actual work phase wherein the execution process is streamlined, resource allocation, time management, activity control, and focus on deliverables. Another critical aspect at this stage is to maintain an effective alliance among project stakeholders. They would review the project management plans and may suggest if any changes are required.
Monitoring and Control
This phase of monitoring and controlling the project runs concurrently with the project execution phase. It ensures the objective of project execution. The project manager has to make sure that there is no deviation from the actual plan. This can be achieved by creating KPI – key performance Indicator and FSF – Critical Success Factors. Quantitative tracking of the cost and efforts is another vital part of this phase. The project manager has to maintain the status report and be ready with corrective actions if the need arises.
Last but not least, the stage of project management is the closure of the project. It is a vital phase, even if it is the final stage and closure. The end of this phase is the final delivery of the project. At this stage contract termination and relevant paperwork is a vital process. Most teams would do the performance evaluation and a complete project analysis after the completion of the project to gauge the failures and successes of the project. Towards the end, before the project handover, all the crucial data should be stored in a secured place for future references.
Currently, in the market, one may find numerous software tools that would help to make this entire process easy and less complicated. However, software tools may decrease some part of the heavy lifting; a substantial understanding of project management is the key to a project’s success.
SV Shah Projects and Consultants LLP, one of the best project management consultancy firms, is most effective throughout the project’s life cycle, from conception to completion. Projects are planned in synchronization with the client’s requirements. The key benefit of their planning and execution is that project performance is continuously reviewed to detect any deviations from the overall project plan. It helps to construct a functionally and financially feasible project that will be completed with the expected budget, completed on time while maintaining the optimum quality standards. You can contact SV Shah via [email protected] or talk with them at +91 98250 36084