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2.3.4.3. A Group of Important CSFs for LOCRES
The quality and quantity of construction materials, local availability of required resources, requirement of skilled human resources, capacity of equipment, supply chains
etc. could be included in this group of important factors. The area of activities in the mapping local availability of required resources LOCRES should be considered as a
group of CSFs which may have a significant impact on the successful improvement of the cost management and controlling practices
– the CMCPs of project overheads during the construction stage of construction projects.
2.3.5. Managing the Company’s Interest and Motivation for Project
Benefit INTBEN
2.3.5.1. Relevant Issues for INTBEN
A concept of the company is a corporation based under common legal systems for creating a company‟s commercial interests and financial benefits Skadmanis, 2009.
Construction companies should have the top priority of creating profits for many reasons Ostwald, 2001, through maintaining excess revenue over optimum costs, and sustaining
minimum expenses for maximum project benefits Jaya
et al.,
2010c and 2011a. Alarcón
et al
2009 suggested that in order to complete projects successfully, the project manager should ensure the key-roles and interconnection are built and agreed with project
participants prior to the new project beginning. Construction companies have various possibilities to develop project partnerships with a variety of contributors who encourage
individual company interests. The company‟s commercial interests may involve intellectual capital e.g., experience, expertise, personnel knowledge and skills and
tangible assets e.g., equipment, transportation, office-building, and other facilities.
2.3.5.2. Potential Challenges for INTBEN
Project benefits may include initial planned profits and additional cost savings of project overheads. Company‟s interests for improving intellectual capital may be achieved
through formal training and overall project experience e.g., knowledge by training and
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through effective cost management and controlling practices of project overheads. Project benefits may be the top motivator for sustaining the future survival of construction
companies. The company‟s interests and project benefits could be stimulated and accumulated through one of the project features, e.g., effective cost management and
controlling practice of project overheads during construction operations.
2.3.5.3. A Group of Important CSFs for INTBEN
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