The Importance of Project Management in Construction Industry
“You can dream, create, design, and build the most wonderful place in the world. But it requires people to make the dream a reality.” – Walt Disney
The industry of construction today is pacing ahead of many other industries when it comes to expansion in terms of innovation and projects. Construction occupations are predicted to grow by 11% between the years 2016 to 2026. Advanced engineering technologies, evolving architectural demands, booming population, the advancement of the real estate industry are some of the greatest drivers of the increasing need for construction project executions.
The twenty-first-century ECI is undergoing significant challenges as it is constantly on the verge of coping with the multiplying demand of operating, constructing and maintaining assets faster than ever before. However, one of the most intricate challenges that the industry is experiencing at present is the management of time. A substantial percentage of projects in the construction industry is facing challenges of cost overrun. The construction industry is undergoing a gap of expertise due to which approximately 80-90% of the projects in this industry skip deadlines along with budget overruns. This is precisely where the importance of project management, more than anything, comes into prominence. Let’s take a more in-depth look at the various roles, pluses, contribution and true requirement of project management. Don't use plagiarised sources.Get your custom essay just from $11/page
A foretaste of project management in the modern market
The significance of project management in modern construction is heightened. A picture of the early construction industry showcases management responsibilities confined with the boundaries planning, selecting workforce, coordination and plan execution. But today’s industry of engineering and construction is much more progressive that has roped in challenging and state-of-the-art responsibilities like creating advanced designs, handling multinational clientele, implementing technologies for accurate project executions, reducing project timeline, cost-cutting, implementing sustainable construction strategies collaborating with architects and much more. This is where a flavor of global project management skills comes into the picture. Often today’s project management professionals in today’s construction industry are often entailed with health and safety, insurance, meeting legal requirements, maintaining permits and beyond.
Organizations thus demand professionals with soft sills, global perception and in-depth technical knowledge in order to fit into the cut-throat competitive and radically advancing industry of engineering and construction. In this light, the Times TSW, in association with the Indian Institute of Management Kozhikode (IIM-K) has brought forward the brilliantly designed eMDP (executive Management Development Program that arms budding project management professionals with global best practicing skills in project management.
The program is well-versed to provide participants with hands-on experience in MS project software. Professionals shall explore live field projects, real-life case studies, belonging to both national and multinational enterprises. We believe in producing market-ready talents who possess the capability of building to link operations to finances or strategy. The program shall prep up candidates to not only attract high-end career opportunities in the management industry but shall also secure a growing prospect in the senior-suite roles in project executions of the construction industry.
In addition to that, we have roped in the leading industry-experienced educators who are known for shaping, preparing and producing incomparable talents who behold the ability to add core value to the industry of construction, which heads beyond stereotypic filed knowledge. We believe in shaping innovative minds with international standard training aids, state-of-the-art online training methods, facilitation student’s easy virtual interaction with industry experts and an overall advanced approach towards imparting education. The program welcomes employees aspiring for a senior role, project leaders, Mid and senior-level executives to lift their skillsets to a whole new dimension that secures an advancing and lucrative career in the future construction industry under project management. Give your knowledge and skills a multidimensional edge by beginning your career at the Times TSW.