Before understanding the main theme it is critical to know the meaning of ‘project’. A project is primarily an initiative taken to create a new product / service or improvise on the existing one. The important aspect here is that the imitative should be different in someway to be considered as an innovation.

The phrase infrastructure project management comes into picture when a business decides to start up a new venture or add some value to the current enterprise. There are various areas where such project management happens, such as agriculture, manufacturing and industrial, warehousing and logistics, and residential townships and luxury homes sectors. Other than this infrastructure development is done in amusement, leisure and tourism sector in addition to service, retail and commercial markets.

Projects are handled in all commercial segments.

While the study and research in each area will be different; however the various phases of project management remain the same. These have been listed below:

–  Project Integration
–  Project Scope and Requirements
–  Human Resources Management
–  Time Management
–  Cost Management
–  Communications
–  Quality Assurance
–  Risk Management

A common question after looking at the above is – why so many stages? That’s because both expert guidance and practical experience says that a project management is the best way of bringing a change. Any task is most effective when done in a comprehensive manner by taking all aspects into consideration i.e. both negatives and positives. Coming to infrastructure project management, the team that handles the operations of a project needs to perform various activities. These include:

–  Project Funding: This is an important stage where you need to arrange for monetary support from entrepreneurs, developers, financiers or government bodies.

–  Project Subsidies: Another critical aspect is the subsidy part where the organization concerned needs to be conscious about the relevant governmental support and waivers applicable to their project.

–  Acquisition and Approvals: This phase is where project conceptualization grabs importance and tasks like land acquisition and getting required approvals are performed.

–  Design and Development: At this point the contribution of designers and engineers becomes valuable as they help to create properties that match the project requirements.

–  Sale and Post-Sale: This is almost the close point of the project in terms of execution. The marketing teams work hard to make the initiative successful by ensuring good returns. Post this it is also significant to keep a track of the vigorous continuity of the project so that it keeps benefiting in the long run too.

Since comprehensiveness is essential in infrastructure project management hence it cannot be performed as a side task. There are various consultancies now-a-days that specialize in handling such initiatives. It is thereby always judicious to outsource your project management tasks to reputed consultancy providers while you continue with the management and expansion of your core business.

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