Summary
Summary APS1001 Project Management Individual Assignment
- Course
- APS1001 (APS1001)
- Institution
- University Of Toronto (U Of T )
Summary of 8 pages for the course APS1001 at U of T (N/A)
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IntroductionProject management is the most widely adaptable methodology for project delivery in the
construction industry. However, it would take time for each individual to be proficient in relevant
essential techniques in the professional setting, so I would like to share some of my real-life experiences
on how I practice my project management skills at my workplace. This paper will discuss how the project
management approach helps me to hand over deliverables that meet clients' expectations and
timelines.
Professional Background
I am a Cost Consultant at Altus Group which is a global-leading construction consulting firm
specializing in cost estimation, advisory, and project management. Altus Group like most construction
consulting firms has a project-based business model of the service scope and our cost&project
management department offers tactical services to help owners or contractors to make substantial
preparations for their upcoming projects including cost planning, loan monitoring, and dispute
resolution. Working in the consulting industry over the past two years, I have been actively gaining cost
estimating expertise in hundreds of construction projects including ICI, residential and horizontal
construction.
Cost consulting is a fast-paced and competitive working environment; it has pushed me to
become a diligent worker that can manage multiple projects simultaneously and meet the client`s
deadline as a standard of practice. The following essay will discuss a typical project life cycle of the cost
planning project in my daily operation and explain how I can increase my productivity by using project
management tools. Then I will share an example of my project management experience at my
workplace.
, Overview of the Cost Planning Project
Design-bid-build (DBB) is the most traditional method for general contracting project delivery,
and the linear process includes designing construction packages, bidding, and completing construction.
Nowadays, most residential developers are still embracing the DBB method in Ontario. The owner does
not require the early involvement in the constructability review because the complexity of
the residential project is significantly lower than the public infrastructure project. Moreover, it usually
can secure the lowest first tender with minimal financial risk but it would take a longer time to deliver
the final project (Kubba, 2012).
In the beginning, the owner will hire design consultants for preparing the construction
documents. Once the cost planning document is ready, the owner/architect would ask cost consultants
to check the developing designs and provide a high-level estimation of the project budget with
contingencies. The professional advice from cost consultants can help owners fully understand the
scope of the project and improve the value of the final deliverable within the allowable budget.
Meanwhile, the owner has the opportunity to work on the risk management plan in the earliest possible
time frame such as modifying the design scope, seeking additional financial resources, etc (UKEssays,
2018). For example, If the owner cannot secure loan financing equivalent to the estimated value, the
pre-construction team can modify the design scope within the owner`s affordable budget.
Cost Planning Project Life Cycle
The cost planning projects have the shortest duration and usually are expected to deliver to our
clients in less than two weeks once we receive the design package. They are a major income resource
for our department and I gained most of my project management experience from the cost planning
project. The typical life-cycle of the cost planning project is shown below:
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