What is the Iron Triangle or Project Management Triangle in the construction industry?
Kairali Homes, the leading builders in Thrissur believes that construction projects involve fragmented, complex multi-tasks, executed by professionals and non-professionals within the Project Life Cycle (PLC). The PLC comprises the engineering, procurement, and construction (EPC) phases.
The Project Management Triangle refers to the three most important performance evaluation criteria in EPC projects:
The efficiency of every construction project is measured through the above triple constraints of project management.
What are project overruns?
Inefficiencies in the construction industry are reflected in terms of cost and time overruns. Studies reveal that about 14% of project contract amount is consumed by cost overruns. More than 70% of all construction projects experience time overrun. 10% of project materials end up as waste. Kairali Homes manages our resources to achieve high performance standards.
What are some of the advantages of the Kairali Homes expertise?
1. We define our CSFs (Critical Success Factors) at the beginning of the project. These include project management tools, innovative management approaches, cost, time, quality, satisfaction, safety, technology, environment, resources, etc.
2. At Kairali Homes, the Thrissur Builders, we believe in Continuous Improvement in all our projects. This in turn arises from our PDCA cycle (Plan, Do, Check, Act), initially introduced in the manufacturing sector and later employed in the construction industry. Our PDCA is based on continuous measurement in order to achieve control and continual improvement of processes and products.
3. Kairali Homes, your Thrissur Builders, draws inspiration from the classical Toyota Production System (TPS) that emphasizes on Lean Production by focusing on waste minimization, effort maximization and profit to end users. We have modified it as Lean Construction which means designing and implementing construction activities to minimize waste in construction with respect to time, cost and quality.
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What are some important guidelines while preparing to buy a home?
Kairali Homes has successfully completed several prestigious Villa Projects in Thrissur. Below we provide a few guidelines for beginners:
1. Estimate your finances and determine if you are ready to buy a home. Home ownership is much more expensive than renting. You will have to pay the taxes and insurance related to your home. You are responsible for all repairs and utility costs such as garbage and water. You should build up an emergency fund before you purchase your first home.
2. You could shop for a loan and get pre-approved before you shop for a home. Your real estate consultant will help you evaluate different loan companies to find you the best rates, payment options and loan types. Usually a fixed rate- 15 or 20-year loan is the best option that will help you lock in a low rate.
3. You need to determine how much you can really afford. A basic guideline is to keep your EMI, taxes and insurance between 25 and 30 percent of your income. Alternatively, your home cost should be limited to two and half times your annual salary. If you spend too much on your EMI, you may not be able to meet your daily obligations and save for retirement.
4. Choose a good consultant carefully. A good consultant like Kairali Homes, known for popular Villa Projects in Thrissur, will listen to your needs and wants attentively. He/she will make suggestions and explain the market to help you find a home that suits your budget. He/she will offer different options. Once you make an offer, your consultant will work to negotiate terms that you are happy with. A good way to find a consultant is by the recommendations of friends and colleagues.