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Four Square - Design & Build

  |  House   |  Overview of Construction Industry
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Construction industry is a significant industry around the world. The construction business in general defines a sector of the economy. The Industry plays an important role financial development of the country, in fact facing many challenges at present that lead to influence project goal and consistent growth of the economy.

Construction is a high hazard industry, containing a wide range of operations such as plans, design, constructs, alteration, maintenance, repairs and ultimately demolishes of buildings, civil engineering works, electrical and mechanical engineering and other comparable works.

Construction is always complex that make industry vulnerable to disputes, delays and cost surpassing. The construction business has attributes that separately are share by different businesses but the combination appear in construction alone.

Parties and Stakeholders includes in the Construction Sector

  • Client
  • Professional Advisers
  • Professional bodies
  • Contractors
  • Suppliers
  • Manufacturers
  • Financial Institutions
  • Research and Development Bodies
  • Public Authorities

Construction Industry Categories

The industry divided into three categories terms of works.

  1. Building Construction – Construction of residential, farm, industrial, commercial, or other buildings.
  2. Infrastructure Construction – Heavy constructions such as roads and highways, bridges, sewers, railways, irrigation projects, flood control projects and marine construction.
  3. Special Trade Construction – Constructions include projects such as electrical work, plumbing, fittings, paintings etc.

Importance of the Construction Industry

The importance of the construction industry in the economy of any country derives from the following factors.

  • Scale of the construction industry
  • Sectors
  • Employment
  • Investment
  • Government
  • Private Finance Initiative
  • Health and safety

SWOT Analysis on Construction Industry

Strength

  • Employment and training opportunities
  • Demands of construction – Private sector housing and commercial buildings
  • Transportation advantages in the country
  • Skilled Labour availability
  • Sufficient availability of raw materials

Weakness

  • High cost
  • Management difficulties
  • Distance between projects and business
  • Investment

Opportunities

  • Private sector building continually increase will create construction opportunities
  • Public sector Projects will bring further opportunities
  • Financial supports (loan, insurance)
  • Government policies

Threats

  • Long-term market instability
  • Current economic situation
  • Lack of political willingness
  • Health and safety
  • Environmental regulation
  • Competitors
  • Government policies

 

Comments

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    Reply
    7 November 2017

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    • martinnnemily
      Reply
      7 November 2017

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    Reply
    7 November 2017

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