Construction projects often require the integration of engineering disciplines (civil,
structural, electrical, mechanical, geotechnical, etc.) as well as interaction with
technology and sophisticated equipment that demand
unique construction techniques and methods. This can contribute to unique
subcontracting arrangements, special
financing, risk insurance, compressed schedule timelines, sustainable infrastructure,
complex logistics, adaptation
to changing governmental regulations, and internal/external constraints, all of which
have the potential for significant
increases to project and capital costs. The construction industry is almost entirely based
on a competitive market
environment for project cost, schedule, and performance delivery. Construction projects
are becoming increasingly
larger, more complex, and more globally competitive, each bearing the potential for an
adversarial relationship
between the buyers and sellers.
Construction managers and project managers;
• Contractors;
• Subcontractors;
• Construction specialists, such as estimators, schedulers, cost engineers, project
control analysts,
and quantity surveyors;
• Architects, designers, and engineers;
• Regulatory agencies and governments;
• Nongovernment organizations (NGO) and private enterprises;
• Environmental groups;
• Community groups;
• Prospective homeowners;
• Risk management specialists;
• Geotechnical and hazardous material experts;
• Real estate developers;
• Construction material and equipment vendors and suppliers, and logistics and
transportation
specialists;
• Construction consultants and attorneys;
• Insurance, banking, and financial institutions;
• Construction industry trades and professionals; and
• Other stakeholders in the construction process, from land acquisition through design,
construction, and occupancy.
Lack of planning, poor preconstruction preparation, poor communication and teamwork
skills, and weak contract
administration are leading causes of problems on a construction project.