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PM Essence

               Construction Industry –

         New Opportunities and New Vistas

 

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India's development is dependent on the Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country.  This sector includes power, bridges, dams, roads and rural & urban infrastructure.

 

 

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India needs Rs 31 trillion (US$ 465 billion) to spend on infrastructure development over the next five years, with majority of the funds needed for power, roads and urban infrastructure segments.

 

The Government released its list of 98 cities for the smart cities project in August 2015. It has also unveiled plans to invest US$ 137 billion in its rail network over the next five years, heralding Prime Minister Narendra Modi's aggressive approach to building infrastructure needed to propel faster economic growth.

 

The Government of India also plans to award 100 highway projects under the public-private partnership (PPP) mode in 2016, with expectations that recent amendments in regulations would revive investor sentiments in PPP projects in the infrastructure sector. (source: Ref. 1 )

 

Ref. 1 : http://www.ibef.org/industry/infrastructure-sector-india.aspx#sthash.Dx4JFEW8.dpuf).

 

Further, recent passing of Real Estate Bill by Parliament and likely setting up of Real Estate Investment Trusts (REITs) in near future puts construction industry at the cross roads to be more organised and professionally driven. There is no more apt time for adapting best Management practices to drive efficiency and attract talent.

All of the above and more are not possible without effective Project Management. It is imperative for the infrastructure sector which encompasses the Engineering and Construction (E & C) industry as well to adopt the most efficient business practices and deliver quality products and services.

 

PMI recognizes the Engineering and Construction Industry world-wide to be the most mature in implementing professional Project Management practices. For successive years E&C projects were chosen by PMI for their Project of the Year Awards. PMI also has a specific industry extension to Project Management Body of Knowledge for Construction Industry covering additional processes like Safety, Environmental Management, Financial Management and Claim Management.

 

To this effect, PMI Bangalore Chapter brings to you the PMI Bangalore India Chapter Engineering & Construction Forum (E&C Forum). This is a focused interest group that aims to bring advancements in the Engineering & Construction industry through advocacy of Project Management standards and best practices.

 

A one of its kind in India, it shall provide a platform for the professionals to benefit not only from the immense knowledge base that PMI offers but also by providing opportunities to network, collaborate and share best practices in the E&C industry. Construction projects involve a diverse set of project stakeholders that includes Owners/Developers, Architects, Design & Engineering Professionals, Specialist Consultants, Investors & Financial Institutions, Government Bodies, Corporate, Project & Property Management Consultants, Builders, Suppliers, Contractors and Academicians. E&C Forum aspires to be a nurturing ground for all construction professionals from all stakeholder groups, aiming to achieve excellence through Project Management.

 

"E&C Forum is being guided by well-respected senior industry leaders from across the spectrum of the industry".

 

With a far reaching vision to be the most admired professional forum for advancement of Project Management profession in the E & C industry, the forum's main mission is to serve E&C Project Management community by active advocacy of Project Management standards & best practices, to elevate the professional pride and to attract talent to the industry.

 

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PM Industry Symposium for Engineering & Construction is being organised to get a glimpse of how Project Management can harvest the best outcome from E&C projects. This one day symposium will help the delegates understand the emerging trends from the E&C leaders and also network with them. The other objective of this symposium is to share the best practices and learn for the  detailed case studies of selected E&C projects which involved management of enormous complexity and scale.

 

PMI Bangalore India Chapter welcomes you to the Symposium being held on April 22nd, 2016 at the Leela Palace Hotel, Bengaluru. We have recently conducted two special knowledge sharing sessions for construction industry at Royal Orchids Central Hotel. We also plan to continue with knowledge sharing, networking events throughout the year. Please stay connected for more updates.

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Please do write to This email address is being protected from spambots. You need JavaScript enabled to view it. with any questions, suggestions or for more information.
 
 

What is PMBOK?

 

Project Management Institute (PMI) provides global standards provide guidelines, rules and characteristics for project, program and portfolio management.  These standards are widely accepted for managing projects in any industry including Infrastructure industry and, when consistently applied, they help you, your global peers and your organization achieve professional excellence. PMBOK®  stands for Project Management Body of Knowledge. Currently Fifth Edition is use while Sixth edition is under review. The PMBOK® Guide is the preeminent global standard for project management. It provides project managers with the fundamental practices needed to achieve organizational results and excellence in the practice of project management. This standard presents generally recognized good practices and reflects continually evolving knowledge. You can buy it from pmi.org website and PMI members are entitled to get a complementary electronic copy. For sharing you project management experiences or any further queries, feel free to contact  PMI Bangalore India Chapter.

 
 

THE FIVE PRINCIPLES OF PROJECT MANAGEMENT

 

PRINCIPLE 1: VISION AND MISSION

In order to successfully execute, every project or initiative should begin with the end in mind. This is effectively accomplished by articulating the Vision and Mission of the project so it is crystal-clear to everyone.

 

PRINCIPLE 2: BUSINESS OBJECTIVES

The next step is to establish a few simple goals or objectives for the project. Is it being implemented to save time, cost and efforts that go into the project, improve safety, quality and performance of the systems and installations or active error, incident and snag free end-product? etc.

 

PRINCIPLE 3: STANDARDS OF ENGAGEMENT

Simply put, this means establishing who will be part of the project team? What will be the frequency of meetings? What are the meeting ground rules? Who is the project owner? Who is designated to take notes and distribute project meeting minutes and action steps?

 

PRINCIPLE 4: EXECUTION STRATEGY

This is the meat of the project and includes using a gap analysis process to determine the most suited strategy to resolve the issue you are working on. There are many quality management concepts that can be applied ranging from a comprehensive "root cause analysis" to simply "asking why five times. "Once the best possible strategy has been identified then we must map out our execution strategy for implementing the strategy. This includes identifying who will do what, when, how and why?

 

PRINCIPLE 5: ORGANISATIONAL ALIGNMENT

To ensure the success of the project, all who are directly impact must be onboard. To achieve organisational alignment (or buy-in), ongoing communication must be employed in-person during team meetings and through training. The message must include the WIIFM "what's in it for me" at every level; otherwise most stakeholders will not be interested or engaged around the project.