We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Project Management for Construction - Assignment Example

Comments (0) Cite this document
This report is in response to the directions on the part of the commercial department of ABC Corporation towards assessing the financial status of the project concerning the construction of offices and yards for the Rus Ting Metal Stockholders plc, Contract no…
Download paper
Project Management for Construction Assignment
Read TextPreview

Extract of sample
Project Management for Construction

As per my observations, I have proposed a number of actions that could be taken by the company in the near future.
The findings of my analysis are explained one by one. The project as per contract No.205 is for a total sum of 10,000,000 and has been prepared under the JCT 98 format. Initially, the company had calculated the internal budget for the project and had projected it at 9,500,000, out of which 750,000 was allocated for package contracts. the project is still ongoing and has been facing some problems of late, which will be discussed in the forthcoming paragraphs.
From the existing financial records, the total cost of the project incurred by the company has so far been close to 6,750,000, out of which 6,200,000 was spent on paying the package contractors and suppliers. However, the amount that has been obtained from the client since the commencement of the project has been to the tune of only 5,850,000, which means that the company has spent an extra amount of 900,000 on this project. In fact, it can be seen that the spending of the company has been more directed towards the package contracts and has in fact been more than the income that has been obtained from this project so far. This suggests that the company has not been efficient enough in monitoring the deficit, which has resulted in an extra investment of nearly a million pounds into the project that is yet to be cleared by the client.
Apart from this, I have calculated the ...
Apart from this, I have calculated the retention ratio at 10%, which is usually deemed quite less, especially for bigger projects such as these. At present, the company owes around 300,000 to the package contractors, out of which around 100,000 meant for a contractor has become insolvent. This leaves the existing dues to the package contractors at 200,000.

I would like to note here that the situation on the part of the client has not been encouraging in terms of their financial performance during the past year. The shares of Rus Ting plc have not been performing well and their value has dropped by as much as half of their value. The poor performance of the client can be further reflected by the fact that they are yet to pay their certified installment due last month. To make matters worse, bad weather over the past few months has been constantly hampering the smooth flow of work at the construction site.

The major concern of the company at the present moment is with regards to the time of completion of the project. By taking various factors into account, it has been estimated that the project would be completed three weeks behind schedule. Under such a situation, the company would have to pay up to 90,000 under Liquidated and ascertained damages to the client. Thus, it can be seen that apart from the outstanding costs that have been incurred by the company, another danger still looms large if no immediate steps are taken to bring about a change in the company's strategy and practices.

Apart from these problems that the project is facing at the moment, there have been various other problems that have been hampering the progress of the project from time to time. ... Read More
Cite this document
  • APA
  • MLA
(“Project Management for Construction Assignment”, n.d.)
Retrieved from https://studentshare.net/business/283371-project-management-for-construction-assignment
(Project Management for Construction Assignment)
“Project Management for Construction Assignment”, n.d. https://studentshare.net/business/283371-project-management-for-construction-assignment.
  • Cited: 0 times
Comments (0)
Click to create a comment
Project Management Assignment: Project Analysis
This report is based on the project analysis of the INCIS Fiasco, the idea of which was proposed by the New Zealand Police Force. The idea was to implement a compact Information System solution that would revolutionise the working mechanism of the police force.
10 Pages(2500 words)Assignment
Project Management
Site B is located approximately 4 kilometers form A. Scheduled rates Item description Delivery schedule (Business days) Cost (estimate) 15 DESKS AND CHAIRS 5 $500 3 SOFAS, 10 ARM CHAIRS AND 3 TABLES 5 $300 15 COMPUTERS(+MONITORS) 5 $500 34 FRAMED PICTURE + OTHER ITEMS (150 BOXES) 5 $300 Acceptance The client named below verifies the accepted terms and conditions of this Statement.
8 Pages(2000 words)Assignment
The project chosen for the assignment is the house construction
Identification of soil type and decision regarding the nature of foundation, procurement of material, laying of foundation and curing of construction work are the major activities here. The duration required is 6 days Roof work, placing skylight and TV antenna: Once the frame erection is complete, laying of the roofing material could be initiated.
4 Pages(1000 words)Assignment
Project Management for Construction
Stating clearly the additional information I still require. The report presented here gives a detailed analysis of the examination of a contract on construction offices and yards with regard to a company named Russ Ting Metal Stockholders plc. The report is based on the financial requirements specified by the Commercial Department of the Contractor and evaluates the financial status of the company considering the different factors that tend to determine the financial status of the project.
8 Pages(2000 words)Assignment
Project Management Master Assignment
Project Management is a methodology and a discipline which can bring significant benefits to organizations. It ensures that limited resources are used on the right projects; manages complex changes in an organized way; assesses risks, defines goals and key success area and sets quality objectives.
6 Pages(1500 words)Assignment
Project Management Degree Assignment
Therefore, currently, the shop has plans of expanding into these countries. The current goals of the business are to develop a website and mobilise expansion plans, keeping in view the aim of the business. The lack of an already existent website can be viewed as a handicap, besides the low number of staff appointed to run the business.
4 Pages(1000 words)Assignment
Construction Safety
The theme of an on-site emergency plan is to expect the unexpected, because it is very rare that disasters are expected when everything is going fine at the worksite. The need for a safety program very often arises when the constructor or
1 Pages(250 words)Assignment
International Project Management Assignment 2
Chinese culture and other cultures that enjoy a high social conscience, favor team work and arrive at decisions on the basis of group consensus. The North American
6 Pages(1500 words)Assignment
Project Scope Management , Individual Assignment
In relation to the project of Burj Khalifa, it can be ascertained that several tasks have contributed in competing the project within
15 Pages(3750 words)Assignment
Advanced Project and Risk Management
management involves a series of steps which delivers an effective process to accomplish the goals and objectives a project smoothly (Public procurement Guide, 2008). The discussion of this part of the assignment aims to critically examine the National IT Program in the NHS
20 Pages(5000 words)Assignment
Let us find you another Assignment on topic Project Management for Construction Assignment for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us