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Heavy on the other hand refers to everything bigger and heavier including skyscrapers, high rise hotels, airports etc.
Even if construction industry is suffering slightly, it is the commercial construction sector that provides the much needed stability. Commercial real estate in 2002 accounted for the biggest share of the construction industry.
Those who are thinking of entering the market and succeeding need to consistently come up with new and better projects that meet the requirements of the community. It is widely believed that the more a dealer or builder pays closer attention to smaller details of community's needs and requirements, the better are his chances of coming up with just the product that community would respond to.
Knowledge is critical for success and therefore a person entering the market must build on solid market information. He must come into the industry fully equipped with the right arsenal. he/she should know exactly what is needed and how much investment in terms of labor and capital is required. Staff requirements must be kept in mind and the people hired to work with the builders should be knowledgeable people with considerable years in the field.
Knowing and recognizing the niche is usually the first step but without the support of knowledgably staff. For example...
It is naive to assume that you as a builder could learn all the skills possessed by these people. You have to believe in the concept of specialization and division of labor and allow others to do their work while you focus on other important aspect such as organizing and coordination of various tasks.
Knowledgeable staff is also needed for various critical things such as where you get buy your supplies, which product or material is better, how much a project would cost and how can the cost be minimized. Like every other business, commercial construction is also about making profits and minimizing cost. This can best be done with a commercial builder has experience and knowledge. Even if he doesn't possess these and is only interested in investing his capital in construction, it is important to hire the right people with just the kind of knowledge needed to succeed in this industry.
References
Martin Sinderman, Commercial Construction: State Of The Market, National Real Estate Investor, August, 2000
Late rebound, Construction & Demolition Recycling, Jan-Feb, 2005
"Brainstorming, scenario planning, and expert interviews is the tools highway engineers commonly use in routine engineering and construction management tasks." (U.S. Department f Transportation 2007 P. 2). Table 3 reveals the summary of the tools and technique in the risk identification process. Table 3: Risk identification tools and techniques PROJECT-SPECIFIC DOCUMENTS PROGRAMMATIC DOCUMENTS TECHNIQUES Project description Work breakdown structure (WBS) Cost estimate Construction schedule Procurement plan Team issues and concerns Historic data Checklists Final project reports Risk response plans Organized lessons learned Published commercial databases Academic
(in its turn, the financial environment must be understood with reference to the wider economic situation.) Cost control is the activity which compares cost performance against the cost plan, adjusting one or the other dynamically by reference to the changing circumstances in the project's financial environment. (Hughes, 1991, p.1) 2. Time Control -. Timing is influenced by many environmental factors, but the client's attitude to the timing of the project
According to Finkel (1999), "The American construction industry is a vibrant and dynamic segment of the overall economy. It is annually responsible for nearly 4% of the nation's gross domestic product (GDP)" (p. 3). The historic performance of the construction industry has remained positive, even during downturns in the national economy. In fact, the last decade has been a period of healthy growth from the construction industry worldwide; however,
Framework Analysis & Review As is also noted in the methodology of this report, the overall basis and goal of this report is to assess the widespread and national-level Dutch construction fraud scandal that erupted and came into full bloom in 2001. As will become clear throughout this framework and paradigm analysis, the presence of fraud within the Dutch construction industry and environment is without question and this was especially true
Introduction Sustainability, a word most often discussed, yet least understood is a topic of interest in today’s growing society. With various interpretations offered, some treat sustainability in a superficial way. However, for many businesses, nations, and individuals that believe in the future sustainability has to offer, the word is a serious one aimed at promoting efficient use of resources, a chance at stable economic growth, and continued social progress. In modern
According to Montgomery (2003), "Higher floors of buildings tended to rent at a substantial discount, due to the need to climb several flights of stairs to reach one's workplace or residence. Otis's invention of the safety elevator at mid-century heralded the end of this constraint on vertical real estate development" (495). Likewise, Masden notes that the increasingly confident use of the relatively new ' elevators' also fueled demand for