Project management generally refers to the managing of the activities or tasks that are undertaken for a specific time period for the completion of the project. It is necessary to plan the activities of project management because if the tasks of the project are well planned and implemented in accordance with the plan the completion of the project takes place in a proper manner and progresses smoothly. Project management has become extremely necessary in any business as every business organisation have different projects in hand or rather it can be said that implementation of every plan is a separate project which requires proper management for appropriate implementation (Kerzner and Kerzner, 2017).
Here, the case study provides the details for a construction project which includes the work of residential duplex development. The cash reserves for the funding of projects owned by the business is of $800,000. Within a specific timeframe of 9 months, a residential duplex development project requires to be done. The regional centre will be chosen within UK. The project feasibility study and the project timeline will be provided along with this project report. This report will include an explanation of the goals and limitations of the project, the factors of the macro environment influencing the business as well as the factors of the micro environment that influences the business.
The details regarding the plot has been provided in the project feasibility study template. The particular land has been chosen as there are various development opportunities in the property. This development opportunity in Mayfair is appropriate for the residential duplex development. The location has been chosen as it is one of the prime locations and a proper regional centre of London. There are many occupiers in the area which include major corporates, luxury hotels, luxury goods suppliers. The Dunraven street is close to Hyde Park and is adjacently positioned to Park Lane. The location is also near to a range of hotels, high-end fashion shopping areas as well as iconic parks of London.
Goals
The primary objective of the project of building a residential duplex to create the maximum amount of equity which is obtained by subtracting all the costs of the project from the value of the constructed duplex. The estimated value of duplex has been considered as $155,00,000 as the location is one of the most highly priced locations of London and it is considered as one of the elite residential locations of the city. The equity has been projected in the project feasibility study template. However, during the course of progressing with the project activities the overall costs incurred in the residential duplex development project may fluctuate. Another goal of the project is to control the costs. The economic costing of the entire project is necessary. The planning and design of the building must be such that the building design is cost effective and beneficial as well. As the designs for duplexes are flexible, it has to be ensured that the designs are based on the functionality of the buildings(Hardin and McCool, 2015). The considered project of duplex development is for residential purpose and therefore, it is important to focus on the design as per the requirements and needs of the residential duplex developments. The size of the land also influences the design of the building and the building must be designed in such a way that the residents of the duplex are comfortable within the building. The functionality of the building determines the basic design and since here the function is residential the spaces of the plot has to be used to make the building spacious as well as comfortable (Fellows and Liu, 2015). An inappropriate plan or design may result in congested residences. Another prime goal has to be the performance of the residential duplex development. Concerning the performance of the building, the definition of high performance building was provided by the Energy Policy Act of 2005. The definition defines high performance buildings as ‘a building that integrates and optimizes all major high-performance building attributes, including energy efficiency, durability, life-cycle performance, and occupant productivity’. It is necessary that the performance objectives of the building are fulfilled in order to achieve a high performance for the building (Choudhury, 2014). Here the main performance goal is that the building must have proper safety and security systems and it must be well planned and designed so that the residents feel comfortable in the environment. The design must be user friendly and the residents must feel secured in the environment of the residential duplex. Also, the building design must also focus upon the health of residents which will make the performance of the building better (Little et al, 2017). The design of building must have appropriate ventilation and space for the residents to stay in good health. The final goal of the project is the sustainability of the building. Sustainability of the residential duplex development is significant. Sustainable designs of the buildings characterise a commitment to environmental responsibility. Sustainability also focuses on the balance maintenance between the requirements of the people, functions of the building and the cost as well. The main objective here is to avoid unnecessary depletion of resources or energy and creation and development of places that are suitable. The materials that will be used for construction will be of high quality which will increase the ability of the building to survive and maintain itself under extreme climatic conditions as well natural disasters. The goal of building a sustainable duplex residential development also includes the element of safety and security. Safety and security of the people living in the building is, critical to any construction project. The design of the buildings must ensure proper safety and risks evaluation is required to be conducted in order ti understand what contingencies may be faced in the future. Proper risk mitigation and management facilities and procedures must be developed in order to decrease the amount of risks assessed.
Constraints
In the course of construction of this residential duplex, it is certain that few constraints will be confronted with. These constraints include:
Design constraints- The design constraints are those factors which create a limitation for the potential design solutions that can be considered for the project. These design constraints include:
Technical constraints- These constraints are generally faced when the construction progresses and are often associated with the construction activities. These constraints may relate to availability of handling or storage areas, access routes of sites, requirement of space for the builders’ work, coordination of services and even construction tolerances.
Economic constraints- the economic constraints mainly relate to the resources allocation and the project budget. The budget of the project may create obstacle in the way of developing an appropriate building in terms of functionality, performance, quality and safety. The economic constraints must be well managed in order to maintain the balance between cost-effectiveness and quality.
Management and legal constraints- The management constraints mostly include the management related issues like the requirement of overtime, allocation of resources among the different tasks of the project, work practices, health and safety procedures, framing and maintaining of social and environmental policies, agreements with the employees and workers’ union etc (Harrison and Lock, 2017). The legal constraints basically include the regulations and laws that are implemented in context of real estate activities. The construction procedures and planning must comply with the legislations of the land. The main laws associated here are health and safety law and the employment law (Nicholas and Steyn, 2017).
Time constraints- The time constraints are present in every project. This includes the completion of the key activities of the project as well as achieving the milestones. The completion of the undertaken project of residential development must be done within a time period of 9 months which creates a limitation for the project (Sears et al, 2015).
Environmental constraints- The environmental constraints are another significant constraint faced in this context. These constraints include few limiting factors such as:
Macro-environment business drivers
There are few macro environmental factors that are taken into account when the determination of feasibility for the construction project is done. These factors influence the undertaken project and are significant to the completion of the construction project. Here few factors will be discussed which influence the residential duplex development project. These factors include:
Economic factors- The feasibility of the project cannot be determined without considering the overall economic situation or the economic factors of the country. The most important economic factor that influences the construction projects includes the inflation or deflation prevalent in the country, trading policies, economic structure, exchange rates, labour market, suppliers of materials, price structure, competitiveness of traded goods etc. In context of the project that has been considered here, the economic factors that have to considered mostly are the inflation or deflation scenario of the economy. If inflation prevails the price of the materials will increase thus making it difficult to maintain the budget of the project (Ruparathna and Hewage, 2015). In addition to this, the labour market charges will also influence the project as wages to the labour is also one of the huge costs of the company. If few high-quality materials or technical services are to be imported from other countries the exchange rates will determine the cots of these materials or services (Eastman, 2018). Thus, it is necessary to consider these economic factors.
Resourcing- The resources availability is another important factor to be considered. For the purpose of successful completion of the project it is necessary to have proper resourcing facilities as well as resources such as financial resources, human resources, proper resources for conducting market research, technical resources etc.
Demographic factors- The demographic factors include various socioeconomic characteristics like the age group of the population, sexual orientation, income level, education level, religion, occupation, average size of the family etc. These factors have the main influence on the design and facilities of the construction project (Walker, 2015). The design of the building, its interiors and exteriors will vary according to the age of the residents as their choices will be different. Further the design will also be influenced by the average size of the family. The education and income level will determine the use of resources to build the building and the technical systems of safety and security used therein (Qureshi and Kang, 2015).
Micro-environment business drivers
There are even certain micro-economic factors that are considered while determining the feasibility of the project. These factors include:
Technical or internal expertise- It is necessary to have technical expertise in the team for project management. In context of construction project, it is all the more important as building the residential duplex will require technical support as well as the use of technological advancements in building a safe and secure place for the residents. For a building to be of high performance and sustainable the availability of technical expertise is essential. Without proper technical assistance the goals of this project cannot be achieved. Therefore, it can be said that the availability of technical expertise determines the feasibility of the project to certain extent (Trad, 2015).
Time pressures- The design of the building must consider the time frame that has been allotted for completion of the project. In accordance with the time frame the plans and procedures of the project must be scheduled. With there are too many processes and features to be added to the residential duplex the project would not be completed within 9 months.
Availability of human resources- In order to complete the project within the period of 9 months it is necessary that there are adequate number of labours and human resources for the management of the project. Thus, it can be said that human resources can actually plan well the project and work in accordance with the available timeframe and thus they are considered to one of the most important factors to understand the feasibility of the undertaken project (Wang et al, 2014)
References
Choudhry, R.M., 2014. Behavior-based safety on construction sites: A case study. Accident Analysis & Prevention, 70, pp.14-23.
Eastman, C.M., 2018. Building product models: computer environments, supporting design and construction. CRC press.
Fellows, R.F. and Liu, A.M., 2015. Research methods for construction. John Wiley & Sons.
Hardin, B. and McCool, D., 2015. BIM and construction management: proven tools, methods, and workflows. John Wiley & Sons.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach. Routledge.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Kumar, R. and Agarwala, A., 2016. Renewable energy technology diffusion model for techno-economics feasibility. Renewable and Sustainable Energy Reviews, 54, pp.1515-1524.
Little, B.R., Salmela-Aro, K. and Phillips, S.D., 2017. Personal project pursuit: Goals, action, and human flourishing. Psychology Press.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Routledge.
Phua, F.T., 2018. The role of organizational climate in socially embedding construction firms’ sustainability goals. Construction Management and Economics, pp.1-13.
Qureshi, S.M. and Kang, C., 2015. Analysing the organizational factors of project complexity using structural equation modelling. International Journal of Project Management, 33(1), pp.165-176.
Ruparathna, R. and Hewage, K., 2015. Sustainable procurement in the Canadian construction industry: current practices, drivers and opportunities. Journal of Cleaner Production, 109, pp.305-314.
Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015. Construction project management. John Wiley & Sons.
Trad, A., 2015. A Transformation Framework Proposal for Managers in Business Innovation and Business Transformation Projects-Intelligent atomic building block architecture. Procedia Computer Science, 64, pp.214-223.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
Wang, J., Li, Z. and Tam, V.W., 2014. Critical factors in effective construction waste minimization at the design stage: a Shenzhen case study, China. Resources, Conservation and Recycling, 82, pp.1-7
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