Silver Fiddle Construction: The Czopek Project Zachary Stoy MGMT505 September 20, 2011 Tony Sines Southwestern College Professional Studies The Czopek Project Company Silver Fiddle Construction (SFC) Client Bolo & Izabella Czopek Project Objective Construct a High-End, Custom Home for Mr. & Mrs. Czopeks Project Details Project Team • • • General Contractor (SFC) Part-Time Bookkeeper (SFC) Skilled Subcontractors Budget • $450,000 -$500,000 Duration • Five Months Deliverables 2,500 sqft 3- Bedroom, 2.5Bath 3 Vehicle Finished Garage Kitchen Appliances High-Efficiency Gas Furnace Project Milestones July 5th Permits Approved July 12th Foundation Poured September 25th “Dry-In” – framing, sheathing, plumbing, electrical, and mechanical inspections passed November 7th Pass Final Inspection Risk Assessment Silver Fiddle Construction must determine: All possible risk events Likelihood those events will occur Impact of the potential risk Risk detection difficulty Time of occurrences Risk Events Blown Budget Blown Schedule • Likelihood: Moderate • Impact: High • Detection: Moderate • When: Final Stages • • • • Likelihood: High Impact: Moderate Detection: Moderate When: Final Stages Risk Events Quality Standards • • • • Likelihood: Low Impact: High Detection: Low When: Inspections Continued Volatile Resources • Likelihood: Moderate • Impact: Moderate • Detection: High • When: Duration Risk Events Part-Time Bookkeeper • Likelihood: High • Impact: Moderate • Detection: Low • When: Duration Continued Cost: More than a Number Nonmonetary Cost that Devastate Reputable Companies Poor Quality Unsatisfied Client Over Extended (taking on too much work) Poor Management of Subcontractors Methods of Tracking Cost Performance Index (CPI) Schedule Performance Index (SPI) Estimated Cost at Completion (EAC) Balanced Scored Card Method Conclusion Successful Delivery to the Client Positive Referrals Good Reputation Increase Future Workload Increase Profits References • • • • • • Bilal, A., Prassinos, P. (2010). Risk Informed Decision Making. Vol. 132 Issue 1. ContractorDeals.com (2008). Contractor ROI – Return on Investment. Retrieved from http://www.constructiondeal.com/contractorblog/2008/08/contractor-roireturn-on-investment.html. Jolanta Tamosaitiene; Zenonas Turskis; Edmundas Kazimieras, Z. s. (n.d). Risk assessment of construction projects/Statybos projektu rizikos vertinimas. Journal of Civil Engineering and Management, 16(1), 33. Retrieved from EBSCOhost. Larson, E.W., & Gary, C.F. (2001). Project management the managerial process. New York, NY: Mcgraw-Hill Irwin Los, D. (2005). Four Keys to Finishing On Time and Under Budget. EC&M Electrical Construction & Maintenance, 104(6), 52-55. Retrieved from EBSCOhost. Stoneman, B. (2005). Home Construction Loans: From the Ground up. Community Banker, 14(7), 26-30. Retrieved from EBSCOhost.