Business Management

Business Management
Weighting: 50%
Learning Outcomes
14.1. Assess the methods used to analyse cash flow.
14.2. Explain the need for and methods of ensuring good relationships with clients/customers, subcontractors and employees.
14.3. Justify the various leadership styles and the need for clear organisational objectives.
14.4. Investigate the issues relating to organisational management and dynamics.
(bold will be covered by this assessment- others partially so)
Brief The present economic climate requires the construction industry to be focused on key business attributes to survive. Many companies are already going into receivership, some of whom were very large. Now more than ever it is essential to control costs and meet the expectations of all stakeholders.

Recent documents indicate the state to industry and which way it needs to move.
• In the executive summary to the Wolstenholme report ‘Never Waste a Good Crisis’ 2009
“Since Sir John Egan’s Task Force published its report Rethinking Construction in 1998, there has been some progress, but nowhere near enough. Few of the Egan targets have been met in full, while most have fallen considerably short. Where improvement has been achieved, too often the commitment to Egan’s principles has been skin-deep.”

And of the same document Sir Andrew Latham wrote in the introduction
“At the present time, a number of clients are being led by their construction costs consultants to abandon frameworks and go back to lowest price tendering. That is a mistake. Partnering and close collaboration between the client and the whole construction team will mean that the project will come in on quality, time and cost, ….”

• The latest KPIs for the industry taken for the 2010 UK Industry Performance Report indicates that only circa 50% of projects are the actual costs in line with the budget.

Scenario
You have your own construction business which has requires new investment from a financial backer. You have long term aspirations for the business, but you fear is that they may only seek short term profits from projects. You have persuaded them that if the business is set up in the right way there are long term profits that will warrant their continued investment. However, to back up this vision of a new built environment business, you have been asked to write a report to your financier to show your understanding of the situation, which:

• Examines some of the barriers to the ‘change’ in the construction industry to meet the needs of a sustainable built environment from a view of the fundamentals of the requirements of successful change management.

• Explains the fundamental business requirements for good relationships between all stakeholders in projects and what affects these relationships.
• Assesses the reasons for the failure for projects to meet budget and explains the impact on project budgets of the methods used by contractors to keep their costs controlled.
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