Managing Change
Introduction
An investor should be benefited from the construction project; the benefits include profits, business development, utilization of resources and jobs. The investors will be interested to invest in the project only when there are accurate forecasts that would provide long term benefits. The construction industry is highly uncertain, and there is a possibility of risk. As the risks influence the profits, it is important to anticipate the assumption of risks and be calculated into a feasibility analysis and this would avoid the risks for the benefit of the investor. (Firmansyah, 2006). Construction industry has many problematic issues in the United Kingdom and majority of the problems have been the direct consequences of the decisions taken by the professionals of the construction industry, and the financial institutions. Project feasibility study enables optimization to provide the profits. The present study will suggest some changes to be adapted for the feasibility of the construction project.
Problem statement
Construction industry in the economic downturn has problems from the financial institutions and professionals. This constraint has reduced the profits and the constraints are largely associated with the decisions of the professionals. An effective planning requires the adoption of some changes that make the project feasible in order to get the profits. Zenith is a construction company is losing profits as the projects are not feasible due to the non-adoption of changes in decision making by the professionals and financial institutions.
Present study
The present study is a project feasibility study that analyses the problems associated with the construction industry and suggest the changes to be adopted by the management of the Zenith construction company for the project to be feasible.
Problems and issues of the construction industry in UK
House purchase credit facilities
Owning a house is becoming increasingly difficult
An investor should be benefited from the construction project; the benefits include profits, business development, utilization of resources and jobs. The investors will be interested to invest in the project only when there are accurate forecasts that would provide long term benefits. The construction industry is highly uncertain, and there is a possibility of risk. As the risks influence the profits, it is important to anticipate the assumption of risks and be calculated into a feasibility analysis and this would avoid the risks for the benefit of the investor. (Firmansyah, 2006). Construction industry has many problematic issues in the United Kingdom and majority of the problems have been the direct consequences of the decisions taken by the professionals of the construction industry, and the financial institutions. Project feasibility study enables optimization to provide the profits. The present study will suggest some changes to be adapted for the feasibility of the construction project.
Problem statement
Construction industry in the economic downturn has problems from the financial institutions and professionals. This constraint has reduced the profits and the constraints are largely associated with the decisions of the professionals. An effective planning requires the adoption of some changes that make the project feasible in order to get the profits. Zenith is a construction company is losing profits as the projects are not feasible due to the non-adoption of changes in decision making by the professionals and financial institutions.
Present study
The present study is a project feasibility study that analyses the problems associated with the construction industry and suggest the changes to be adopted by the management of the Zenith construction company for the project to be feasible.
Problems and issues of the construction industry in UK
House purchase credit facilities
Owning a house is becoming increasingly difficult
References: 1. Cook, S. and Slack, N. (1984) Making Management Decisions, Prentice-Hall International Inc, London, UK, ISBN 0-13-547837-5. 2. Douglas, J. (2002) Building Adaptation, Butterworth Heineman, Oxford, ISBN 0-7506-5085-0. 3. Department for Environment and Rural Affairs. (2000) Countryside Survey — Accounting for Nature: Assessing Habitats in the UK Countryside [online], Retrieved from : http://www.defra.gov.uk/wildlife-countryside/cs2000/02/01.htm Accessed February 2007. 4. Egbu, C. (1996) Characteristics and Difficulties Associated with Refurbishment. Construction Papers No. 66, CIOB, Ascot. 5. Ferry, D.J. and Brandon, P.S. (1984) Cost Planning of Buildings, BSP Professional Books, London, UK, ISBN 0-632-02403-8 6 August 3-5, 2006, Bangkok, Thailand Retrieved from http://eprints.qut.edu.au/6551/1/Trigunarsyah_EASEC_10_5.pdf 7 8. Justis, R. T. & Kreigsmann, B. (1979). The feasibility study as a tool for venture analysis. Business Journal 9 10. Paul Watson (2009) The key issues when choosing adaptation of an existing building over new build Journal of Building Appraisal (2009) 4, 215–223