Strategic management in construction organizations

The traditional philosophy of management in construction, both in academia and in industry, places great emphasis on the ability to plan and execute projects. Through the sharing of research, teaching and practice, the construction industry has evolved itself on a project management model. Professors, researchers and practitioners use project management indicators such as schedule and budget as the industry's standard of performance, In contrast, a similar emphasis on strategic management is noticeably lacking in the construction industry. Although the pressures of project performance can often obscure the broader social, economic, and professional context in which strategic management is undertaken, it is these broad contextual areas that make strategic management an essential issue for construction organizations. Rapidly changing social and technological issues are creating a professional environment that will look very different in the coming decades than that experienced in today's organizations. This paper introduces one approach to addressing this new environment and the role of strategic management in construction organizations.