Literature Review: Modern Construction Enterprises - Course 301158

This literature review examines various aspects of modern construction enterprises, focusing on work acquisition, project execution (including project management and field supervision), financial management (cash, debt, reporting, and asset management), human resource management (rec...Read More

MODERN CONSTRUCTION ENTERPRISES 1
Modern Construction Enterprises
Name of Student
Institution Affiliation
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MODERN CONSTRUCTION ENTERPRISES 2
 Work Acquisition
Adedamola Oyedele, O. (2019). [online] Available at:
https://www.researchgate.net/publication/281620496_Evaluation_of_Factors_Affecting_Constr
uction_Cost_Estimation_Methods_in_Nigeria [Accessed 15 Aug. 2019].
The article comprehensively discuss how the amount or rather the cost used in the
acquisition of projects is significant. The author explores various ways that it influences the
construction industry. Among the notable points is that it determines the success of the
construction work as it defines the job scheduling as well as the milestones. Besides, it is
essential in monitoring, evaluation and planning of the workable design. Further, the author
goes ahead to explore some of the methods which can be used in project acquisition to ensure
that the delivery of the projects is timely. However, the author notes that more work needs to
be done on the estimation objectives, irrespective of some of the existing techniques such as
computer models. This research work is essential as it offers insight into the process and how
to work acquisition with respect to various factors should be done.
KIMATHI, N. (2019). [online] Available at:
http://erepository.uonbi.ac.ke/bitstream/handle/11295/97862/Kimathi%20Nelson_Investigation
%20Into%20Estimation%20of%20Building%20Projects%20Variation%20Contract
%20Period.pdf?sequence=1&isAllowed=y [Accessed 15 Aug. 2019].
This work delves into an investigation into the estimation of construction projects.
The author notes that the success of the construction projects majorly lies on the modalities of
acquisition and the estimated cost during the project acquisition process. The author notes
that there is a direct relationship between the time and cost incurred in the construction
projects and that currently, both the mathematical and non-mathematical models do not
actually factor in these two aspects together, which should not be the case. The research
somehow is significant, but then it is superficial, as it does not elaborately give way forward
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MODERN CONSTRUCTION ENTERPRISES 3
on how the factors of cost and time estimation can be harmonised in the work acquisition
stage.
 Project Execution (such as Project Management and Field Supervision
Koutsogiannis, A. (2017). Improvement of Construction Project Management
Processes. Journal of Engineering, Project, and Production Management, 7(2), pp.54-54.
Anastasios Koutsogiannis presents an overview of project execution, in terms of
management and some of the roles for effective project execution process. He notes that the
basis of construction projects is founded on how project management is organised. By
extension, the author posits that the project management process is key to the stability of the
whole process. Some areas discussed in the articles include the roles of a project manager,
contractor, as well as the process of project management. Anastasios Koutsogiannis reminds
us that the stability of the construction projects lies on the project management personnel, and
hence this articles is essential towards addressing the question of the impacts of project
execution on the construction industry
Writer, S. (2019). 5 Strategies of a Successful Construction Project Manager. [online]
Smartsheet. Available at: https://www.smartsheet.com/content-center/best-practices/project-
management/5-strategies-of-construction-pm [Accessed 15 Aug. 2019].
Staff Writer shares some of the strategies of a successful project manager. He notes
that there a lot of challenges which comes as a result of the construction process, and as such,
requires that the construction project manager is endowed with appropriate skills to handle
the eventualities. Some of the skills, which should be adopted by successful project
managers, includes continuous planning, creating a flow of information, using work
execution platforms to budget for projects, as well as embracing the automated reporting
systems. The articles, though superficial, gives us an insight into the vital nature of the
project management towards the construction industry.
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MODERN CONSTRUCTION ENTERPRISES 4
 Financial Management (such as Cash Management, Debt Management, Reporting, &
Asset Management)
Cfma.org. (2019). Financial Management and Accounting for the Construction Industry | CFMA.
[online] Available at: http://www.cfma.org/content.cfm?ItemNumber=3378 [Accessed 15 Aug.
2019].
The construction financial management association presents some of the roles of financial
managers in the construction industry. The association is keen to note that in the
contemporary environment, the organisational success of a construction project relies
significantly on how best the financial manager is organised. By extension, with the increased
competition, reliable financial information and analysis certainly will result in a huge
difference between failure and the success of the project. The associations go on to explore
the roles of financial managers as well as some of the skills that they need to adapt to keep up
with the construction industry. The articles are comprehensive as it offers a great insight into
the subject question lining the financial managers to the construction industry.
Lee, N., Bae, J. and Jang, H. (2012). Analysis of the Changes in the Perceived Important
Capabilities of Construction Project Managers after the Global Financial Crisis. Journal of
Construction Engineering and Project Management, 2(3), pp.8-16.
The author investigates the significance of financial analysis, cash management, and
planning in regards to the construction industry. The findings indicate that prior to the
commencement of a construction project; it is paramount to consider the financial stability of
the project, in terms of the presentation, assets and budgeting issues. Additionally, it is
established that each phase of the construction process is impacted by financial steadiness. It
is paramount to enlist all the items before the construction of projects begins so that the
construction delays are avoided. The research is detailed enough to address the relationship
between financial management and the construction industry in terms of the impacts.
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MODERN CONSTRUCTION ENTERPRISES 5
 Human Resource Management (such as Recruiting, Hiring, and Career Management
Siew, R. (2014). Human resource management in the construction industry – Sustainability
competencies. Construction Economics and Building, 14(2), pp.87-103.
Renald siew notes that one of the ley issues which have been the topic of discussion is
sustainability. He went ahead to explain the fact that sustainability is predominantly lacking
in the construction industry, an industry which is viewed in terms of its 3D image (difficult,
dirty, dangerous). However, the author notes that human resource, despite being viewed in
the past in the domains of remuneration, training and development, employment conditions,
as well as recruitment, it can majorly play a significant role in promoting sustainability in the
construction industry. The writer went ahead to propose a sustainability competency
framework for the construction industry, which is significant for HR practitioners.
Ahammad, M., Glaister, K. and Gomes, E. (2019). Strategic agility and human resource
management. Human Resource Management Review, p.100700.
In the strategic and operational approaches in regards to the human resources
management in construction projects, the authors notes that one of the sectors, which have
been accorded the least attention, is the human resource management. The author notes that it
has been centralised to office operations, yet most problems arise as operational issues. The
author goes ahead to explain the strategies and operational techniques which should be
employed when recruiting the contractors so that the operational issues can be avoided. The
article gives a clear view of why competent contractors should be resourced to avoid some of
the challenges realised in the construction industry.
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MODERN CONSTRUCTION ENTERPRISES 6
 Technology Management (such as Software and Hardware selection, and Production
Machine / Robotics Management)
Emerald.com. (2019). Technology management of IT in construction: a driver or an enabler? |
Emerald Insight. [online] Available at:
https://www.emerald.com/insight/content/doi/10.1108/09576059910256583/full/html [Accessed
15 Aug. 2019].
In their publications, emerald insight notes that the construction industry has
experienced numerous technological advancements. However, he notes that allow the way; a
technological shift was experienced from it driven solutions to it enabling solutions, greatly
influenced by the fact that the business or the management needs were not incorporated by
most of the companies in the construction industry. The authors address how technological
management can be incorporated into the construction industry so that feasible technological
it solutions are realised. The author’s presents a clear view of the how the technological
management should be applied in the construction industry to realise positive outcomes,
which I believe makes this work relevant and essential to our subject of research.
Hussain, M. (2018). Ground-up digital: How Finland is seeding innovation in its construction
industry. Construction Research and Innovation, 9(3), pp.64-67.
Muzammil Hussain notes that we are living in a world of technology, yet the
construction industry seems to be struggling with adapting to technological advancements.
The author goes ahead to gives an instance of construction technologies and their impacts
towards the construction. One significant aspect is the project management software, which
the author notes that its utilisation improves productivity as well as enabling a better work
experience. In addition, it assists the contractors to be timely manage their schedules,
generation of multiple projects reports concurrently, as well as time tracking. The article is
significant in addressing the question of how technological management influences the
construction industry.
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MODERN CONSTRUCTION ENTERPRISES 7
References
Adedamola Oyedele, O. (2019). [online] Available at:
https://www.researchgate.net/publication/281620496_Evaluation_of_Factors_Affecting_Con
struction_Cost_Estimation_Methods_in_Nigeria [Accessed 15 Aug. 2019].
Ahammad, M., Glaister, K. and Gomes, E. (2019). Strategic agility and human resource
management. Human Resource Management Review, p.100700.
Cfma.org. (2019). Financial Management and Accounting for the Construction Industry |
CFMA. [online] Available at: http://www.cfma.org/content.cfm?ItemNumber=3378
[Accessed 15 Aug. 2019].
Emerald Insight. [online] Available at:
https://www.emerald.com/insight/content/doi/10.1108/09576059910256583/full/html
[Accessed 15 Aug. 2019].
Hussain, M. (2018). Ground-up digital: How Finland is seeding innovation in its construction
industry. Construction Research and Innovation, 9(3), pp.64-67.
KIMATHI, N. (2019). [online] Available at:
http://erepository.uonbi.ac.ke/bitstream/handle/11295/97862/Kimathi
%20Nelson_Investigation%20Into%20Estimation%20of%20Building%20Projects
%20Variation%20Contract%20Period.pdf?sequence=1&isAllowed=y [Accessed 15 Aug.
2019].
Koutsogiannis, A. (2017). Improvement of Construction Project Management
Processes. Journal of Engineering, Project, and Production Management, 7(2), pp.54-54.
Lee, N., Bae, J. and Jang, H. (2012). Analysis of the Changes in the Perceived Important
Capabilities of Construction Project Managers after the Global Financial Crisis. Journal of
Construction Engineering and Project Management, 2(3), pp.8-16.
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MODERN CONSTRUCTION ENTERPRISES 8
Siew, R. (2014). Human resource management in the construction industry – Sustainability
competencies. Construction Economics and Building, 14(2), pp.87-103.
Writer, S. (2019). 5 Strategies of a Successful Construction Project Manager. [online]
Smartsheet. Available at: https://www.smartsheet.com/content-center/best-practices/project-
management/5-strategies-of-construction-pm [Accessed 15 Aug. 2019].
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