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Procurement refers to the process of locating, purchasing, and transporting the materials and services required to complete a project. To keep unexpected cost overruns to a minimum during this stage, procurement and supply chain managers should provide input during the planning stages.

Fremont, CA: When millions of dollars are at stake in a construction project, avoiding costly mistakes takes precedence. You must account for every detail and contingency while working within strict time constraints and financial constraints.

Construction project management enables you to do just that, whether you're constructing oil and gas refineries, power plants, or cutting-edge infrastructure. Construction project management assists you in keeping the entire construction process efficient and on track, from planning as well as design to resource management and budget allocation.

Listed below are important phases of construction project management. Let's have a look.

Procurement

Procurement refers to the process of locating, purchasing and transporting the materials and services required to complete a project. To keep unexpected cost overruns to a minimum during this stage, procurement and supply chain managers should provide input during the planning stages. Even so, some volatility is unavoidable because prices are subject to market fluctuations. You should account for this risk as much as possible in your preconstruction planning.

There are advantages and disadvantages to obtaining materials from local, regional, or global markets. 

Local procurement may take less time, but it may be more expensive, whereas less expensive materials shipped over long distances may be more prone to delays and supply chain disruptions. Conduct thorough research so that you can select the best options to meet budgetary constraints while remaining on schedule.

Another critical decision is when to perform procurement. Rather than completing procurement before the start of the construction project, you can obtain the resources you require as the project progresses to meet changing requirements. While this strategy adds flexibility, lowers holding costs, and preserves liquidity, it increases the risk of delayed shipments or shortages, which could slow the entire project. It also puts you at risk of price increases. Whatever approach you take, try to align purchase orders with your construction plan and have contingencies in place to keep your budget and timeline intact as circumstances change.

Design

Once you've decided on a project, it is time to let your creative juices flow. The design phase entails creating everything from the project's basic concept to detailed blueprints that show the final design. Your design will progress from rough sketches to finished drawings and specifications, but each iteration should meet the project's requirements while keeping the timeline and prices in mind.

Once the design has been finalized and approved, the preconstruction phase begins.