Project management is one of the best tools for the firms and the managers of the firm to manage the work and to complete the any project on time. It is because it overcomes the issues in the project and also helps the firm to complete error free project in limited time and cost.
Because of this, different ways of the project management are used by the firm. In the concern of this project, it can be determined that there will be the development of the property portfolio by constructing their first major office development. It is more complex to develop that construction because there is also no vehicle access is possible except from Ascot Road (Bromiley et al., 2015).
Apart from this, there is also a single development of the new technologies that they want to implement this technology in the new construction project. So, in this project, there is a discussion of the different approach to risk management. Apart from this, some recommendations are also discussed that can be better in the construction project to risk management (Hornstein, 2015). In like manner, some activities are also discussed that are to be undertaken in the project.
For the successful accomplishment of the project and to perform better in all tasks, it is needed for the firm to manage the risk and risk related activities. There are different approaches related to the risk management that are to be used by the firm (HRD2019) for the successful accomplishment of the project.
In the research of Eriksson et al., (2018), it is determined that the use of Check List is one of the best and effective ways or the approaches of the risk management that can be used by the firm for the successful accomplishment of the project.
In the use of Check List, the project manager will define the all possible risk that can be occurred and can affect the work and the overall project of the firm as well. Because of this, it can be determined that the use of Check List approaches will be a good option for the firm to manage the business and the project also.
It will be helpful for the project manager implement the new technology and the make the new project accordingly. Apart from this, from the research of Wu et al., (2017), it is illustrated that the use of check list is not a proper way for the firm and the project manager for the better management of the project of (HRD2019),
it is because the use of diagramming techniques is also one of the best way that is used by the firm for the better management of the risk and to overcome the all risks as well. The reason in this is that in the use of diagramming techniques, there is a systematic and illustrative way of explaining lists and the all risks is presented in a relationship with a graphical way.
It is an effective way. It makes easy for the firm to handle the risks and to define the ways for the better management of the risk. It also overcomes the impact of the risk on the project (Bromiley et al., 2015).
The use of diagramming techniques is also better for the firm (HRD2019) to complete the project and to complete the al requirements of the clients as well. So, it can be stated that the use of diagramming techniques is better for the firm in the successful business management.
But in oppose of this, from the research of Cagliano et al., (2015), some time firms use assumption analysis that is also a better approaches of the business management and the risk management also.
The reason in this is that the use of assumptions can pose possible risks that can be analyzed and can also be a better in the implementation of the new technology and to complete the all needs of the client.
Apart from this, it can also be stated that there are also some other ways like risk assessment, risk audit, variance and trend analysis, technical performance measurement, reserve analysis, meeting and many more.
The use of all these ways of the risk management helps the firm to complete the project without facing any error and the issues. In the research of Hornstein (2015), it is determined that risk assessment is also one of the best way and in this, firm identify the risk, evaluate the current risk, manage the process of risk management and risk closing. This is the best process of the risk handling.
As, the construction project of the Hi-Rize Development 2019, this process will be better for the firm as it will help to complete the all tasks and to meet the all requirement of the client as well. Using this technique is also better for the firm to keep safe the extra cost of the firm and he project also.
It also improves the quality in the project that is necessary for the firm to sustain the base of the customers. In the same concern of this, from the research of Eriksson et al., (2018), it is also illustrated that audit the risk can also be an effectual way for the firm to do.
The reason in this is that in the risk audit, al risk is predetermined by the firm and the overall construction project is designed by the firm as per that audit. That is why, it is one of the best way for the firms and for the Hi-Rize Development 2019 to complete the project by completing the all need of the customers on time and effectively.
Apart from this, from the research of Wu, and Jiao (2017), it is also stated this project will use the technology in the construction hat can be the issue for the firm to manage the project and to handle the all requirement. So, for this, it is needed for the firm to use the Technical performance measurement technique for the better project handling.
It is because in this project all functional requirements will be managed and checked properly and in this, the use of Technical performance measurement technique can be a better option for HRD2019 project with the consideration of the all need HRD 2016.
Besides form this, in the research of Bromiley et al., (2015), it is illustrated that there are also some other techniques of the risk management such as brainstorming, Delphi technique, root cause analysis, etc can also be used by the firm in this project for completing in a better way.
Furthermore, in the use of assumption analysis, there is lack of possibilities that the project will face any issues and there will be some other expanses that project manager and the firm will bear. But at the same time, there are also some issues in terms of cost, and the proper management, etc that can be faced and affect the work of the firm.
So, in some conditions, the use of assumption analysis is better but some issues are also faced by the project manager. In the concern of HRD2019 project as well as in HRD2019, we also have to consider the all requirements of the client that are specified in the HRD2016 (Cagliano et al., 2015).
So, for this, the use of risk identification and analysis techniques will be used by the firm and the project manager. Systematic approaches, practical approaches, etc are also the risk management approaches that are also used by the firm and in this project; there can be the use of both approaches for the form to overcome the all issues and the risk in the new project development and to complete the basic requirements of the client.
There are different activities that are also to be done by the firm in the construction project and in this, structure, general, roadway, demolition, concrete, framing, roof, plumbing, plumbing, HVAC, electrical, house wrap, exterior stone, hardwoods, etc will be better for the firm to complete the all project on time and effectively.
Apart from this, it can be determined that for the better construction project, it is needed for the firm to design and frame each and every project effectively and defines the need of the all project effectively (Chen et al., 2016). The reason in this is that it will be effective for the firm to complete the all construction project and to overcome the all issues as well.
At the same time, it can also be determined that there are also some additional activities such as checking of all material, process, waterproofing, painting and decorating, finish hardware soundproofing and insulation finish flooring, stairs, doors, trim glass, windows, glazing, electrical work, plumbing and sewage, air conditioning, fire alarm, telephone, and many more.
These all will be done and the completion of all these activities will also be better for the firm to develop an office with specialized building services (Hanisch, and Wald, 2012).
However, these all are the activities that will be followed by the firm in the new office development but at the same time, there are also some issues in terms of time, cost, etc that can also be faced by the firm and can create the issue for the firm to complete the all project on time.
The other reason in this is that the all tasks are interrelated to the each other so any issues in the single task can affect the overall project. So, it will be better for the firm to look and check each and every activities of the firm.
There are also some forms of the procurement that can also be considered by the firm during the successful accomplishment of the project. In this, traditional procurement, design and build (D&B), and management contracting (MC) and construction management (CM).
The use of traditional procurement, there will be the separate between design and construction processes. In this, the all responsibility will be coordination of subcontracting of design. It will be better for the better project handling and managing the risk. In like manner, design and build, in this, all tasks is handled by the contractor and the risk of the project is also handled by the contractor only (Harrison, and Lock, 2017).
Apart from this, in the Management Contracting (MC) and Construction Management (CM), the project manager provides different works for the contractors to handle the all issues and to manage the risk also. In this, there are two responsibilities such as partial responsibility and partial responsibility.
The construction manager will handle the partial responsibility and prime contractor will be responsible to handle full work. Thus, it can be stated that the use of management contracting and construction management is better for the firm in terms of common forms of procurement (Mubarak, 2015).
After analysing the all form of procurement, the one of the most appropriate procurement is the design and build (D&B). The reason in this is that the use of design and build make easy for the project manager to define the need of fixtures, fittings and equipment that are necessary for the firm and the project manager to complete the project. So, the use of the design and build (D&B) will be better for the firm.
|Excavation and Shoring|
|Formwork and Reinforcing|
|Wood Framing, Partitions, etc.|
|Exterior Finishes (brickwork, terra cotta, cut stone, etc.)|
|Roofing, Drains, Gutters, Flashing, etc|
|Finish Flooring, Stairs, Doors, Trim|
|Marble, Tile, Terrazzo|
|Finish Hardware and Painting and Decorating|
|Sprinklers and Fire Protection|
|Plumbing and Sewage|
|Air Conditioning and Fire Alarm, Telephone, Security, Miscellaneous|
There are different activities that are to be done in the construction of the new project. In this, the one of the best and necessary platform is to design the plan and layout and define the ways to complete that plan on time and effectively. After successful drawing the plan, some other steps such as excavation and shoring, formwork and reinforcing and structural steel will also be followed by the firm and the project manager also (Nafkha, and Wiliński, 2016).
Apart from this, as this is one of the best and unique project and this project has some limited area and the ways for approaching like its 6m along in Main Street down to Ascot road that is also a major issue for the firm. It is because there is not vehicle access is possible apart from Ascot Road. So, it is needed for the firm to keep it in its mind and complete the project accordingly.
At the same time, there will be the use of different technical tools related to the constriction project. The reason in this is that the use of different technical tools will be helpful for the firm to complete the project and to meet the all requirement of the client in limited time.
It will also be helpful for the firm to overcome the impact of different risks that can be occurred during the project and can affect the overall project as well (Muller, 2017). In like manner, there will also be some other stages such as wood framing, partitions; exterior finishes such as brickwork, terra cotta, cut stone, etc will be followed.
These are the important steps and tasks that will also be done by the firm in the construction of the new office. In like manner, there are also some other tasks such as finish hardware and painting and decorating, electrical work, plumbing work, security, alarm, etc will also be installed (Wysocki, 2011). So, it will be the process to complete the all project and to meet the all requirement of the customers.
This project will take approx 75 days to complete because there are different tasks that are to be done in this project and these all task will increase the time period. There is also possibility to occur some issues and the risk in the accomplishment of the all task on time.
But the use of risk management strategy and the approaches will be better for the firm to manage the all issues and to complete each and every task on time successfully.
|Clients priority:||Traditional||Design & Build||Management||Design & Manage|
|Essential||5||Sequencial||Accelerated||Direct||Competitive||Develop and Construct||Management Contracting||Construction Management||Contractor||Consultant|
Eriksson, L., Björkman, C. and Klapwijk, M.J., 2018. General public acceptance of forest risk Management strategies in Sweden: Comparing three approaches to acceptability. Environment and behavior, 50(2), pp.159-186.
Wu, A. and Jiao, W., 2017. Chemical Safety Risk Evaluation and Early Warning Approaches. Chemical Engineering Transactions, 62, pp.1549-1554.
Bromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), pp.265-276.
Cagliano, A.C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management techniques. A theoretical framework. Journal of Risk Research, 18(2), pp.232-248.
Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.
Chen, H.L., Chen, W.T. and Lin, Y.L., 2016. Earned value project management: Improving the predictive power of planned value. International Journal of Project Management, 34(1), pp.22-29.
Hanisch, B. and Wald, A., 2012. A bibliometric view on the use of contingency theory in project management research. Project Management Journal, 43(3), pp.4-23.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach. UK: Routledge.
Mubarak, S.A., 2015. Construction project scheduling and control. USA: John Wiley & Sons.
Muller, R., 2017. Project governance. UK: Routledge.
Nafkha, R. and Wiliński, A., 2016. The critical path method in estimating project duration. Information Systems in Management, 5(1), pp.78-87.
Wysocki, R. K., 2011. Effective project management: traditional, agile, extreme. USA: John Wiley & Sons.
|Complete it predefined time period|
|The used material in the project should be in a good quality|
|There should be a proper ventilation|
|Proper facility of light, water, wifi, etc|
|There should be the use of proper technology for the better management of the project|
|Proper ways of the risk management|
|Reduced variations (since design development changes are excluded)|
|There should be following of the ethical rules and regulations|
|There should be proper management of the risk and the fire resistance|
|Better use of “Wood Framing, Partitions, etc.”|
|“Exterior Finishes (brickwork, terra cotta, cut stone, etc.)”|
|Quality in marble and better finishing of the hardware|
|Good work in the plumbing because any issues in this can affect the overall project|
|Complete and deliver|