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Project Management

To understand project management you must understand the term project. The definition of a project is “a unique endeavor to produce a set of deliverables within a clearly specified time and within cost and quality constraints”.

 “Project management is “the application of knowledge, skills, tools and techniques to project activities, in order to meet or exceed client’s needs and expectations from a project”

Project Management comprises:

A set of skills. Specialist knowledge, skills and experience are required to reduce the level of risk within a project and thereby enhance its likelihood of success. Various types of tools are used by project managers to improve the projects chances of success. Examples include document templates, registers, planning software, modeling software, audit checklist and review forms.

A series of Processes.  Various management techniques and processes are required to monitor and control time, cost, quality and scope on projects. Examples include time management, cost management, quality management, change management, risk management, issue management all amounting to adequate organization  on behalf of the consultancy service providers and also on behalf of the main Contractor and sub-contractors.

MEC provides Project management services on behalf of the project owner or on behalf of the Contractor, as the case may be.

MEC amongst other sectors has been involved in providing project management services for construction projects within the local hotel industry where risks for project completion on time, are extremely high. Tourist agents and hotel owners are under binding contracts for providing hotel facilities to tourists in specific time schedules. Cancelations are dealt with heavy compensations. These compensations will be shed to the party at fault. The party at fault may be the Consultancy team for not providing clean and clear instructions/specifications/drawings on time or the contractor for not executing works within the quality and time constraints or the hotel owner for last minute changes in the construction process or for failing to meet his contract obligations.

The question is can good professional Project management overcome the problems of contract disputes arising? The answer is that in last 3 years alone MEC has undertaken the difficult task to provide Management Consultations to contractors (2 case for hotel construction and in 2 cases to Hotel owners, with fully successful results. The budget for the 4 projects was between 4-6million euros each, with time of completion within 4-5 months.

Based on our experience it is almost certain that good Project Management eliminates contract disputes and meets clients’ target and expectations.

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