Nancy Muldoon, a successful San Antonio Real Estate Agent shared with us in a recent interview that commercial construction project management is a complex field. This field extends to different functions. Most of these functions can be summarized as follows: 

• Specification of the goals of a project and plans that include scope drawing, budgeting, scheduling, deciding on the achievement requisites, and selecting project participants. 
• Boosting resource effectiveness via the acquisition of the necessary equipment and workforce. 
• Conducting different operations via legit management and coordination of planning, contracting, design, estimating, and construction during the entire procedure. 
• Efficient communication between the involved agents and resolution of conflicts. 

Key Principles of Construction Project Management 

For anybody that is entering the construction project management field, they should know the following major principles. 

Open Bid 

An open bid is inextricably connected to a public project. That means it’s like an auction that welcomes a contractor to make their offer. Open bids are promoted openly. 

Closed Bid 

Closed bids are parts of private projects. That means bid invitations are sent by project owners to specific contractors. 

Once the project owner has received buds for their project, they proceed to choose the contractor using any of these methods. 

Low-bid Selection 

This kind of selection focuses on the price. The contractor that presents the lowest bid is likely to be chosen for the project. The owner of the project proceeds with the lowest offer. 

Best Value Selection

With this process, price and qualifications play a significant role in the selection of the contractor. The owner goes for the bid that appeals to them the most in terms of money and quality. 

Qualifications-Based Selection 

This method is based on the qualifications of the contractor. Qualifications request enables the project owner to learn more about the contractor before they decide to hire them. The project owner focuses on the competencies and experience of the contractor.  

These are the most important principles of construction project management that a project owner and anybody that wants to venture into this field should know.