188betÍøÒ³°æ industry is an important industry worldwide. The construction industry generally defined as a sector of the economy. The Industry is playing an important role in economic growth of the country, but it faces many challenges currently that lead to affect project goal and steady growth of the economy.
188betÍøÒ³°æ is a high hazard industry which comprises a wide range of activities involving plans, design, constructs, alteration, maintains, repairs and eventually demolishes of buildings, civil engineering works, mechanical and electrical engineering and other similar works.
188betÍøÒ³°æ is always complex that make industry susceptible to disputes, delays and cost exceeding. The construction industry has characteristics that separately are share by other industries but in combination appear in construction alone (Hillebrandt, 1984)
Parties and Stakeholders includes in the 188betÍøÒ³°æ Sector
- Client
- Professional Advisers
- Professional bodies
- Contractors
- Suppliers
- Manufacturers
- Financial Institutions
- Research and Development Bodies
- Public Authorities
188betÍøÒ³°æ Industry Categories
The industry divided into three categories terms of works.
- Building 188betÍøÒ³°æ â€� Including construction of residential, farm, industrial, commercial, or other buildings.
- Infrastructure 188betÍøÒ³°æ â€� Heavy construction such as highways and roads, bridges, sewers, railways, irrigation projects, flood control projects and marine construction.
- Special Trade 188betÍøÒ³°æ â€� This includes projects such as electrical work, plumbing, fittings, paintings etc.
Importance of the 188betÍøÒ³°æ Industry
The importance of the construction industry in the economy of any country derives from the following factors.
- Scale of the construction industry
- Sectors
- Employment
- Investment
- Government
- Private Finance Initiative
- Health and safety
SWOT Analysis on 188betÍøÒ³°æ Industry
Strength
- Employment and training opportunities
- Demands of construction – Private sector housing and commercial buildings
- Transportation advantages in the country
- Skilled Labour availability
- Sufficient availability of raw materials
Weakness
- High cost
- Management difficulties
- Distance between projects and business
- Investment
Opportunities
- Private sector building continually increase will create construction opportunities
- Public sector Projects will bring further opportunities
- Financial supports (loan, insurance)
- Government policies
Threats
- Long-term market instability
- Current economic situation
- Lack of political willingness
- Health and safety
- Environmental regulation
- Competitors
- Government policies