PRUDENT DECISIONS

Project and procurement heads have many challenges that may crop up during the execution of a project. They need to think on their feet

- MOLLY R

Successful completion of a project depends on planning and timely delivery. The project will be awarded to contractors and the timelines for procurement of materials and execution will be finalized with them. Close monitoring will be done on these timelines. Planning and timely delivery of real estate projects can be a daunting task, but with a systematic approach, it can become achievable.

Rahul Thomas, whole-time director, Suraj Estate Developers, says, "It starts with creating a comprehensive project plan that includes timelines, milestones, and budgets. The plan should be realistic and achievable to avoid any delays or cost overruns. It is also essential to establish clear communication channels among all the parties involved in the project, including engineers, architects, contractors, and stakeholders. By doing so, any potential risks can be identified early on, and solutions can be implemented to mitigate them. To track the progress of the project, the use of technology is heavily employed. Ensuring that quality standards and safety regulations are followed is critical in completing the project as planned." Furthermore, one needs to be flexible and agile in one's approach to execution, anticipating and responding to any changes or delays that may arise during a project's lifecycle.

Pushkar Jee, senior GM, projects, Eros Group, says, "We leverage technology to improve project execution. We use Building Information Modelling (BIM) to improve project design and construction efficiency. Sometime, it is crucial to have a skilled and experienced project team that can manage the project efficiently. We need to invest in our team's training and development, ensuring that they are equipped with the latest skills and knowledge required for successful project execution." 

SPIRALLING COSTS