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Explore the crucial world of strategic management in construction and why it's vital in today's competitive landscape.
For millennia, strategy has been a vital component of success in all organisations – from armies to businesses – and construction is no exception to the rule.
In this field, however, translating theoretical strategy into practical decisions and approaches proves to be a challenge – which is reflected in the lack of literature on the subject.
In today’s competitive landscape, strategic management is more important than ever for construction firms, so there is a high demand for innovative, forward-thinking expertise on the subject. Read on to find out what strategic management in construction is, and how a qualification in the field will jump-start your career.
Strategic management defined
In construction, strategic management covers a very wide range of bases. It involves defining a compelling vision of the firm’s future and defining its long-term priorities. On a people-management level, it involves effectively coordinating resources to achieve its mission.
Strategic managers must also lead efforts to analyse the market as it evolves, so that the firm can maintain a competitive edge. This level of responsibility is shared across managerial and directorial levels in construction, and is just as important to the business as laying down brick and mortar.
Still feeling lost on how abstract this broad subject is? To illustrate the variety of areas you can specialise in, we have listed some of its key components below.
Key components of strategic management in construction
Vision, mission, and scope
Globalisation and technology are transforming the ways in which construction firms operate, so naturally, they also affect each company’s identity and goals. Once upon a time, there was a clear-cut line between whether a company operates on a regional, national, or global level, for example.
These days, the barriers are less clear – so part of strategic management involves defining that scope and recognising the responsibilities that come with it.
Does the company specialise in a particular type of construction; for example, schools and colleges, offices, or housing? What will its value proposition be in that area? Visitor accessibility, the incorporation of innovative construction materials, or an eco-friendly process?
Compliance with local and international laws
No matter how wide a scope your firm intends to cover, everyone involved must be up-to-speed with the regulations a building project should adhere to. Strategic management in construction consists, in part, of forming and mobilising teams who are specialised in local legislations.
Their responsibilities involve keeping up with how policies change over time, and applying them to projects from their conception. These teams will also play a key role in drawing up contracts, resolving potential disputes, and making employees at all levels aware of their legal obligations.
Overcoming hurdles at each stage of a project’s lifecycle
More than anything else, strategic management in construction is about managing teams, coordinating talent, and seeing each project through from initiation to delivery. Those who take leading roles in strategic management must be capable of tackling any obstacles that stand in the way of a project’s completion.
These may be financial, logistical, organisational, or legal – so broad knowledge is vital for achieving this. One of the main challenges in this area is striking the delicate balance between setting out a clear, structured plan, and allowing sufficient leeway for constant flexibility and evolution in a changing market climate.
What are the benefits of taking an MSc in Project Management for Construction?
To secure yourself a leading role in construction project management, obtaining the right high-level knowledge and credentials is paramount – and this is exactly what an MSc in Project Management for Construction delivers. If you are looking to elevate your career in construction and see projects through to completion, then this course will be the right option for you.
The University of Portsmouth Project Management for Construction MSc course is accredited by the Chartered Institute of Building (CIOB), which means that its level of education meets the requirements for CIOB framework.
As a graduate of this course, you would be able to apply for CIOB membership after completing 3-5 years of relevant work experience, and you would not need to complete the individual assessment usually required to become a member.
Throughout the course, you will learn about how construction project management fits into the bigger picture as an integrated process. You will also develop an in-depth understanding of the factors that affect construction projects, and formulate your own successful construction project management strategy.
All these learning paths will be explored through a range of real-world case studies, so you will be ready to face all scenarios as a project leader.
You will also get hands-on experience with modern and emerging information technologies such as Revit and ArchiCAD, which are transforming construction processes as we know them. As part of this area, you will learn how to analyse and extrapolate key data from Building Information Modelling (BIM), which offers limitless possibilities for optimizing workflows, collaboration, and decision-making.
All this is just a brief glimpse of what an MSc in Project Management for Construction will offer. To learn more about the avenues you can dive into and their respective benefits, visit our course page:
