Indispensability of Cost Management in Construction Projects

S  Radhakrishnan, Dr K G  Selvan

Abstract Construction Industry is gaining momentum again, after the devastation of demonetisation of one thousand rupee and five hundred rupee notes. The demonetisation had very badly hit, particularly the construction industry. The situation has appreciably improved now. In a way, the act of Government has brought in perfect system in construction industry which was, earlier, a platform for high level cash transaction that has transformed into compliance of strict procedures for transparency. Further, the easily made available housing loan facilities have enabled the purchasers, particularly, the youngsters, to avail the institutional finance for a longer period enabling them to buy apartments of their choice. Big Builders with a renewed vigour are vying with each other in cashing in on the construction market. We have been able to see widespread construction activities, once again, in Cities and outskirts of same. Apart from established companies, small and medium builders are also in the field, catering to customers’ requirements in their own way Key Words:-Cost Management, Quality Management, Time Management, Safety Management

Title:	Indispensability of Cost Management in Construction Projects
Author Name:	S Radhakrishnan, Dr K G Selvan
Abstract:	Abstract Construction Industry is gaining momentum again, after the devastation of demonetisation of one thousand rupee and five hundred rupee notes. The demonetisation had very badly hit, particularly the construction industry. The situation has appreciably improved now. In a way, the act of Government has brought in perfect system in construction industry which was, earlier, a platform for high level cash transaction that has transformed into compliance of strict procedures for transparency. Further, the easily made available housing loan facilities have enabled the purchasers, particularly, the youngsters, to avail the institutional finance for a longer period enabling them to buy apartments of their choice. Big Builders with a renewed vigour are vying with each other in cashing in on the construction market. We have been able to see widespread construction activities, once again, in Cities and outskirts of same. Apart from established companies, small and medium builders are also in the field, catering to customers’ requirements in their own way Key Words:-Cost Management, Quality Management, Time Management, Safety Management
Cite this article:	S Radhakrishnan, Dr K G Selvan , " Indispensability of Cost Management in Construction Projects " , International Journal of Application or Innovation in Engineering & Management (IJAIEM), Volume 6, Issue 7, July 2017 , pp. 142-148 , ISSN 2319 - 4847.
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