The Five Stages of Construction Projects
Whether they fall into the residential, commercial, industrial, infrastructure or environmental category, construction projects typically go through five stages.
Deciding well in time whether or not to launch a project forms the crux of the planning and development stage, as cancelling a project once it takes off proves costly. What helps to make this critical decision is a combination of feasibility studies, capital budgeting, pro-con lists and detailed inputs from stakeholders.
Creativity is the essence of the design phase, which takes the project from the initial sketches to the detailed blueprint of the final design, keeping it within time and cost constraints.
The process of preconstruction creates a roadmap to guide the various parties involved in the construction process. It gives a detailed plan of the responsibility of each individual and the costs involved, the premise being that following the roadmap will help the project meet its goals on time, abiding by quality targets and budgetary allowances.
Sourcing, purchasing and transporting the materials and services required to complete a project are all part of the procurement stage. Unexpected cost overruns are usually kept at bay with efficient preconstruction planning. Although some volatility is inevitable, try to factor in the risk as much as possible.
Construction is the goal and the final stage of construction project management. As the plan is executed, regular monitoring and evaluation help it stay on course.
Potential Pros & Cons of Freelancing vs Full-Time Employment
Freelancing Construction Project Managers have more flexible work schedules and locations. They have full ownership of the business and can select their projects and clients. However, they experience inconsistent work and cash flow, which means more responsibility, effort and risk.
A full-time Construction Project Manager, on the other hand, has company-sponsored health benefits, insurance, and retirement plans. They have job security with a fixed, reliable source of income and guidance from their bosses. Yet, they may experience boredom due to a lack of flexibility, ownership, and variety.
When deciding between freelancing or being a full-time employee, consider the pros and cons to see what works best for you.