What are the best business practices in construction??

Supply chain management here is very important. It involves integrating the operations of all organizations involved with the delivery of a particular product or service. This extends from the primary producer all the way to the end-user.

In construction this will include the primary material suppliers, component suppliers, manufacturers, distributors and intermediaries, installers, trade contractors, lead contractors, designers and the client organisation. If this key business practice is taken care properly...there are other business practice which is important, but I think Supply chain management is very important here....

This is a method to identify the best way of meeting a client’s business needs taking into account time, cost, quality and risk constraints. The value management process involves collaboration with the team responsible for design and delivering the project, and ideally includes end-users and other stakeholders.

The first step is to clearly identify value for the client in terms of need, business benefits and priorities. Next will be the identification and evaluation of options – this forms part of the value engineering process. Selected options will then be assessed in terms of their cost, risk and extent to which they contribute to satisfying the client’s business needs.

All processes and components suggested for the project would be critically appraised to determine whether better value alternatives or solutions are available.