Business Planning and Project Implicationsby C. B. Tatum, Stanford Univ, Stanford CA, USA,
Abstract: Frequent change and unfamiliar conditions in design and construction markets now force greater attention to business planning. New approaches are required to win and successfully complete projects in today's markets. Business strategies generally include: objectives for operations; choices of products and markets; distinctive competencies or capabilities of the firm; critical resources to support these competencies; and competitive advantages based on these capabilities. This paper describes applying these components of business planning to design and construction markets and firms. Based on these components, we examine business and project planning practices and possible additional relationships between these two activities. The conclusions and practical applications include additional links between the two types of planning for improved performance of design and construction firms.
Subject Headings: Business administration | Project management | Commercial construction | Construction companies | Resource management
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