This makes operating within schedule also critical to operating within budget, and key to keeping down cost. If the contract says the project should be completed within 18 months, and for every month past that time work is not complete, the contractor could be liable for lost rent. Typically, a contractor has a timeframe to complete the project specified in the contract, and if work isn’t finished within that timeframe, they begin to accrue liquidated damages. Schedule is closely connected to cost and quality. Managing costs and being profitable is the imperative for any business, and keeps the proverbial doors open for another day of business. Those four key pillars of a successful project are cost, quality, safety, and schedule.Ĭost is core to meeting the owner’s requirements, being successful and making a profit. The 4 Pillars of Successful Construction Project Management In this blog, we’ll talk about what those four aspects are, how they can be reduced to one key piece of project information, and how Assemble easily makes this information available throughout the project lifecycle. No matter who you talk to on a construction project management team, they’re concerned about at least one of these aspects at any given time. On any construction project, there are four main things every contractor cares about.
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