Step by step explanation to understand the difference between Construction Management and Project Management. After watching this video you can clearly understand the difference between Construction management and project management.

Welcome to you all in your own YouTube channel of Skill Rachna Institute of Technology for the unlimited free and practical knowledge in the field of construction industry. Those who all are watching this video I want to make sure them that after watching this video they will not require to see any other video to understand what is the difference between Construction management and project management.

So what exactly the difference between Construction management and project management. The person involved in the work of construction is construction management and the person involved in project is called project management – such kind comedy answers generally you used to hear whenever you ask the question what is the difference between Construction management and project management.

My basic question starts…what is the difference, there is a difference or no difference or both are same just spell is different. The answer is NO there is a big difference between them. To understand the concept step by step, we need to first understand the 3 P of construction industry. That is PROJECT - PROGRAM - PORTFOLIO. As we are going to understand these three terms then we can easily correlate the difference between Construction management and project management. Let’s start step by step

In this video of Skill Rachna Institute of Technology you will understand what is Project, Program and Portfolio and by knowing it how we can clearly understand the difference between construction management and project management.
#Project : Bunch of people (usually highly skilled professionals) trying to make something happen together. According to the Project Management Institute (PMI), a project is a “temporary effort undertaken to create a unique product, service or result.” A project is designed to achieve a specific objective and has a defined beginning and end. In simple sense your site is Project.

#Programme is just a collection of projects that share one big common goal. According to the PMI, a program is “a group of related projects managed in a coordinated manner to obtain benefits not available from managing them individually.” In some cases, It’s important that a group of projects is managed in a coordinated way to ensure that value is achieved.

#Portfolio is a collection of projects and programs that are managed as a group to achieve strategic objectives. According to PMI (Project Management Institute) and its PMBOK Guide, a portfolio includes, “Projects, programs, other portfolios, and operations managed as a group to achieve strategic objectives.” Organizations need to decide which projects are the right ones to focus on. And how many projects can be done based on the capacity within an organization. “Are we doing the right projects?”

Lets try to understand by the practical example of an actual company L & T Construction – They are having five portfolio in Airport, IT and Institutional Space, Health & Leisure, Residential Buildings, Factories. PROGRAM – Residential Buildings
PROJECT – Highest Quality standards for project execution, material and services, collaborate only with the best in class associate.
Portfolio, Program and Project are the component of Project Management like tender & bidding, contract management, purchasing of land etc. On the other hand construction management is the management of project only like managing site execution, quality work, site safety etc.

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