Construction Project Management

International development

ByAdmin July 9, 2021

Week – 4 International development >>> Construction Project Management

Determining how you will initiate a project

Determining how you will approach execution of the project

Assessing whether you should bid the project

Knowing what your compensation should be as the project’s risk manager

Knowing whether the project is likely to be consistent with your risk tolerance

Known knowns

Known unknowns

Unknown knowns

Unknown unknowns

Simple becomes complex

Static becomes dynamic

Certain becomes uncertain

All of the above

Religious

Technological

Political

CFO

Control the project schedule

Procure from the lowest cost supplier

Utilize non-organized labor

Break work into many small, discrete work packages

Interest rate risk

Cost of currency risk

Lack of market development risk

None of the above

Make sure that the project is authorized by your local law where your firm is established rather than the local law where the project takes place

Make all Terms and Conditions clear before commencing the project

Depend completely on skilled expat workers rather than local workers

Ask the foreign government(s) for guarantees to minimize international development issues

Yes, some countries have strong limits on working hours

No, the workers have to abide to my firm bylaws

Yes, cultural aspects have to be considered to ease the cross-cultural teamwork

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Quiz on Construction Industry Overview
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Week – 4 International development >>> Construction Project Management

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