In this developing world people are trying various sorts of things to come up in life. There are lots of improvements and advancements happening around the world, in terms of construction and infrastructure development. These developments are huge investments which are done by multi-national companies and other foreign investors who are sound in strategic thinking and who plan many years ahead for the good will of their business and future.
Due to these investments and huge multi-million dollar projects, there are thousands of job opportunities are being created in that respective area, country or town. From the inception to the completion, there are multiple activities and tasks which requires man power and machineries to accomplish these large scale projects. From building contractors, draftsman to helper, there are hundreds of job opportunities which will open up during these projects.
However, do these job opportunities last long forever? The simple answer is NO. These job opportunities which are created during the project will be terminated up on the project completion, so it will not be a permanent job, it will be a temporary job which a person could be employed until the duration of the respective construction project.
Furthermore, who will be deciding on these job opportunities and the duration of them taking the overall project duration in to consideration? In is actually the construction project management team’s responsibility to plan end to end and come up with all sorts of management plans to deliver the expected results, in this situation to deliver the expected building construction.
Managing a project is one of the challenging activities on this industry. Because most of the construction projects will be delivered to construction companies who are experts in building construction. However, during the vendor selection period most of the projects will be awarded to these contractors on a fixed price contract bases. These types of contract mostly safe guards the client and the high percentage of risks will be on the supplier or the contractor.
Why it is said that the risks are with the vendor or the contractor? Because in fixed price contract, vendor will bid a cost for the entire project based on their past experience and these assumptions that they make should be near accurate because in case the costs are high than the expected post signing the contract, there will be no change or way to negotiate with the client on the costing or pricing as the vendor need to bear the cost and keeps no option to claim or gain the extra expenses at any given point due to the contractual or the legal binding after signing the agreement or the building contract document.