Construction Project Management
Thailand - A road map to implement best practice project management techniques for construction industry
One of most comprehensive studies of cost overrun that exists found that 9 out of 10 projects had overrun, overrun was found in each of 20 nations and five continents covered by the study, and overrun had been constant for the 70 years for which data were available.
Spectacular examples of cost overrun are the Suez Canal with 1,900%, the Sydney Opera House with 1,400%, and the Concorde supersonic aeroplane with 1,100%. The cost overrun of Boston's Bid Dig was 275%, or US$11 billion. The cost overrun for the Channel tunnel between the UK and France was 80%for construction costs and 140% for financing costs. -Wikipedia
With the vast numbers of developments coming up, construction or property development companies are striving to minise and reduce the risks of cost overrun. For every construction project undertaken, eventually it always share one common objective : project is delivered on time and within the budget. Thus the role of a project manager has become more important than ever in ensuring this objective is met.