The global leading business intelligence company, VMAC Business Group will be the host for a 2 day workshop themed “Construction Cost Management” on 5th & 6th April 2010 at Shanghai, China.
Construction Cost Management concerns the establishment of realistic capital costs for construction projects. This involves a detailed planning and control of costs within an agreed cost framework throughout the completion of a project. This is often done by an independent and unbiased cost manager, or the construction manager.
Construction projects are major investment in an unknown quantity. Therefore, it is important that the costs of a construction project are managed to meet the requirements of the project owner, taking into account the functional and aesthetic considerations. This is to maximise the potential returns from each project. By understanding construction cost and budget implications, it is possible to avoid the time consuming and costly process of reviewing or redesigning the project.
VMAC’s research team found out that few of the challenges construction industry is facing are:
• Serious escalation of costs in labour and materials.
• Shortage of both skilled and unskilled manpower to work on these projects.
• Change of efficiency resulting from rescheduling.
These challenges have a direct effect on project cancellations which happen as a result of costs overrunning the original estimates.
VMAC Business Group production manager, Joshini said Construction Cost Management Workshop will be a good networking ground for directors and senior managers from the construction, real estate development, and hotel & resort developers to meet, discuss issues pertaining to construction cost management, and benchmark relationship.
To know more about Construction Cost Management workshop, please do not hesitate to contact them or download event brochure vmac-doc.com/.
About VMAC Business Group
VMAC Business Group (vmacgroup.com) is a leading business intelligence company that was formed to provide indispensable business learning & strategic networking platforms to Fortune 1000 & Blue-Chip companies globally, through mediums like International Business Conferences, Hospitality Management, Corporate Trainings & International Exhibitions.
To know more about VMAC Business Group, please call or visit their official website.