Implication of pmbok in the construction industry

Abstract

The construction industry plays significant role in the economy of Bangladesh. For example, in many developing countries, major construction activities account for about 80% of the total capital assets, 10 % of their GDP, and more than 50% of the wealth invested in fixed assets. The main objective of this research is to identify the governance and management practices of the public sector in a developing country. Every year Development budget spent through various types of projects one of them construction project. Most of the project in Bangladesh are not completion in expected time, cost and quality. Poor governance and back dated project management practice are responsible for project failure. The PMBOK Guide contains the globally recognized standard and guide for the project management profession. A standard is a formal document that describes established norms, methods, processes, and practices. The acceptance of project management as a profession indicates that the application of knowledge, processes, skills, tools, and techniques can have a significant impact on project success. PMBOK has ten knowledge areas which have 47 processes that are logically developed and formulated. I have done some interviews with some contractors and PMP practitioners. In our country almost has 100 PMP practitioners. In this research paper I have done content analysis of PMBOK guidance with general project management. The possibility of adopting PMBOK framework at public sector of Bangladesh is matter of time. In public sector has some constraints to adopt new guidance and as a developing country we have lots of problem, as well as we did not utilize our resources properly.