1.0 Company Introduction
Tat Seng Glass Pte Ltd which I am currently working at is dealing in construction business. The company was founded in 1979 by Jeffery Koh. The company has an annual turnover of $20 million and with total staff strength of 40 personnel. The company is a privately-held construction and engineering company. With the booming construction industry in Singapore and across the Asia region, there are many new buildings to be constructed in coming years and it brings good prospects to our company. However the construction business is also becoming more challenging and competitive. In this respect, the way how a company manage its operation has become more important and crucial in order to increase company’s productivity and maintain its competitiveness and profit margins.
2.0 Products And Services
Our company specialise in the design, supply, fabrications and installation of glazing, aluminium, stainless steel, carpentry and steel works for the developers and main contractors’ projects. We procure stainless steel materials, glass materials from various sources in the region and fabricate them into different products and subsequently carry out on site installation. So when a project is awarded to my company, our contract and procurement departments will calculate out the quantities of all materials needed for the project, and we will then purchase the materials and deliver to the factory for fabrication into finishing products as per contract drawings and specification. Subsequently, all the finishing products will be delivered to the project site for installation. Our core area of business is in the design, supply, fabrication and installation of curtain walls, suspended high screed glass walls, windows, aluminium cladding, skylight & canopy, shop fronts glass, stainless steel glass railing / balustrades and shower screen. Usually there are on about 10 to 15 projects running concurrently at one time.
Some photos of the projects that completed by Tat Seng Company has been shown below:
2.0 The I.T.O. Model
3.0 The 4M’s
Putting the right personnel in the project organisation is crucial for the success of the project execution. Firstly, our managing director and human resources manager will select the best project manager suited as the project leader for the project. Our project manager need careful study and review the contract requirement of the project in terms of complexities, scheduling, cost and quality of the project. He then determines the sufficiency of staff and manpower, machines resources needed for factory works fabrication and site team installation team. He will then propose the project team to our MD for approval. A typical project organisation chart is shown below for reference:
To manage the money in a project, cash flow management on projects are vital for Tat Seng financial health. Upon securing the project, our managing director and project manager will establish the project budget with the contract department to control the financial status of each project undertakes. Our accounts department will then monitor the sufficiency of cash needed to fund the project and oversee the timely collection of the project claim is submitted by our contract department. Good cash flow management will reduce our company’s borrowings cost and thus maintain our company good healthy balance sheet and financial health. Project change orders and variation orders must be submitted in a timely manner by the project manager / contracts department to the owners’ for approval to avoid contractual dispute in the final account which may resulted financial loss to the company.
In 2007, Tat Seng had invested the “state of the art” glass cutting and fabrication machines and stainless steel fabrication machines to increase our company’s productivity and product quality. The machines we had invested created a string of value added products which come...
References: (Using Kaplan Harvard Referencing Format)
Reid R.D., and Sanders N. R., (2005) Operations Management, 2nd Edition, Wiley Publication.
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