Commercial Management and Risks

In: Business and Management

Submitted By DannX
Words 1247
Pages 5
Commercial Management and Risks
Job brief
Commercial management is the identification and development of business opportunities and profitable management of a project from inception to completion. A commercial manager has to understand how to make profit and how the profit is reflected in its operations. In a construction site, commercial management deals with outlining the beginning of a project i.e. the negotiations and analyzing of the cost of the whole construction project and the long term profit to be yielded by the project. It is said that every construction is unique, and the unique aspect demands a high level of commercial and technical expertise. As a commercial manager, I will provide a management system that ensures proper documentation. This entails that all the documents of the contract follow a full legal procedure that is the land on which the construction is taking place and is acquired legally. The tender details are all available and the contract details of the contractor and his team are all available and ensure clarity to reduce future conflicts between the client and the contractor as Lowe and Leiringer (2006) argue.
System devised
The system will also define a well defined target. When referring to target we can consider two cases that is the time the construction will take from inception to completion and the financial target. When dealing with the time target we ensure that the construction program is available to all team members to avoid delays since the more delay we have the more the construction is delayed the more finances consumed. When considering the financial target, the system will provide a well outlined budget that will control the contactor. This will help reduce unnecessary expenditure thus minimizing the cost while targeting for future maximum profit. The system will also oversee the management of the…...

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