Time, Cost and Risk are part of Project Management: Amol Prabhu

By Amol Prabhu,  Partner at Shashi Prabhu & Associates

Years ago, Architects used to lead the construction project by not just providing the design but also their management opinions. Today, management of a project has become a complex mechanism which involves not only the design but also Time, Cost and Risk and as a result, Project Management Consulting has evolved.

In simple terms, a Project is a “Temporary Process” which has a “Defined Start” and a “Defined Finish”, which is bounded by the goals of the stakeholders (clients, users, operators, developers, etc) with constraints of time and money.  Project Management is a procedure for managing this temporary process. Project Management involves 5 stage i.e. Start, Planning, Executing, Controlling and Closing.

Project Managers need to play a strategic role in managing and controlling all these five stages of a project so that the Architects and other specialists can concentrate on providing focused services with greater efficiency. At the same time, we have repeatedly heard clients complain about the constant “blaming each other” syndrome that happens when separate Project Managers are hired. In our opinion, this would happen only on projects where there are no clearly defined roles and responsibilities of each party, and where boundaries of work are not defined by the client.

 





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