Managing Domestic Project

Managing Domestic Project

Table of Contents
Question 1..................................................................................................................................3
Question 2..................................................................................................................................4
Question 3..................................................................................................................................7
Question 4..................................................................................................................................9
References................................................................................................................................10

Question 1
Cash flow management plays a very important role in providing support and information
towards day to day activities. Construction of home is often subject to changes related to
time, budget and resources. Hence, in order to keep a track of this it is very important to keep
a track which is presented in the form of cash flow estimate (Navon, 1996).
For cash flow estimate has been provided in the excel sheet
Explanation
The construction activities taken in the cash flow estimate is based on the general
construction activities that are undertaken. The cost estimates for each activity is based on the
details of the project as well as on the type of construction, in this case brick veneer house.
The cash flow is based on assumptions hence; there are chances that these estimates may
fluctuate depending upon the project process. The total cost of the project is $510000. On the
basis of this division of activities amount will be required to be paid to the contractor. This
cash flow estimate gives a rough idea about the amount distribution on a weekly basis and on
the basis of activities.
Reflection
Following are the steps that are required to be performed in this process:
Identification of the construction requirements: The total construction period of the house is
one year including 5months for pre construction activities and 7 months for the main
construction work. The client requires a brick veneer medium sized house which include 4
bedroom and 1 bathroom
After this the next step is to find out the total cost of the project
The next step is to identify the major activities involved in the project and estimate the
construction cost on the basis of single activities

These estimates will be reflected in the cash flow statement prepared with the help of
Microsoft excel
The cash flow estimate will be reflected on weekly basis for more clear understanding
Expenses will be allocated in the cash flow estimate on weekly basis
In the end the total cash out and cash in will be calculated and reflected in the cash flow
statement.
Above mentioned each step has been taken into consideration by me while preparing the cash
flow estimate. With the help of this i have been able to learn about the process of scheduling,
as well as budget allocation on the basis of importance of the activities.
Question 2
Time, quality and budget are the main components that are considered by project managers
before starting the project and during the project life cycle. In order to ensure quality of the
project it is important to develop a quality management framework.Quality Management Plan
Framework helps in identifying how quality is being controlled with the help of components
like planning, managing, controlling, etc. This framework is used by the stakeholders to
understand about the quality management of the project. Construction quality assurance is
also an important function of the project manager and hence it is very important to include
this in the framework of quality management plan (My Management Guide, 2018).Following
is the quality management framework:
Quality Planning:
 The goals and objectives as well as challenges related to the project are pre-discussed
 Hiring the right human resources to undertake the construction activity, this helps in
ensuringthat the abilities of people are used and valued (Cao, 2010).
 Planning the construction process according to needs and demands of the customers