Project management can mitigate market risks in the GCC

Project management can mitigate market risks in the GCC
Market conditions have prompted a shift in the GCC’s project management practices.
Published: 13 August 2017 - 4:08 a.m.
By: Neha Bhatia

“However, the one-stop shop approach should also be considered. Project management firms should be ready to include construction supervision or management [specialists to their] site teams.

“Although this may [seem to be a] conflict of interest, many  private clients believe that this is better for them, and project management firms should be fully equipped to include this scope to their teams,” Al-Garf adds.

Faithful+Gould’s Fisher, and MACE’s Haddad, say they believe that integrated project management is the next step for the industry in the GCC – a move that will be supported by the uptake of technology in the region’s construction sector.

“The introduction of IT-based project management tools has helped contractors reduce complexities in the construction of large projects by automating the monitoring and supervision of processes,” Haddad says.

“It enables contactors to raise work completion requests during the finishing stage and allows project engineers to verify and approve, allowing daily monitoring of site work based on real-time data and decreasing work slippages. Technology has made each entity more liable for its actions, with a clear central database point of reference.”

Meanwhile, Fisher expounds the benefits of technology for project management firms, as well as the work they produce: “As integrated project and programme managers, we have seen changes in the discipline through two sets of eyes – how we manage our services internally, and how we manage the delivery of projects for clients.

“We have seen the implementation of technology gaining momentum over the past few years, especially since clients are looking for project managers with innovative ideas to better deliver services. Clients [are starting to] appreciate the benefits they stand to gain directly from the implementation of such technologies. Traditional project managers were [operating] by applying project experience to data gathered during the preceding reporting period.

“Most of their time was spent on collecting, screening, and presenting the data, leaving limited time to add value through diagnostics and analyses,” Fisher continues.

“[Now], the expectations for business reporting are gigabytes away from these traditional reporting features. Workflows and business processes enable automated collection of data at a granular level, guaranteeing quality and correctness of data.”

Fisher is hopeful about a more tech-savvy future for project managers: “Like every other disruption to business, digital disruption is here to stay with very exciting possibilities.”

 

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