This provides some time to take the required precautions against potential crises. After catching early warning signals, construction companies that can successfully manage crises inform their personnel about approaching crisis to prepare, organize a crisis team before the crisis, and perform an effective struggle during the crisis. | Construction project management during economic crisis International Journal of Management IJM Volume 7 Issue 7 November December 2016 381 Article ID IJM_07_07_041 Available online at http ijm JType IJM amp VType 7 amp IType 7 Journal Impact Factor 2016 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication CONSTRUCTION PROJECT MANAGEMENT DURING ECONOMIC CRISIS Sumesh Sudheer Babu Research Scholar Department of Management Bharathiar University Coimbatore Tamilnadu India Dr. B. Sudhakar CEO amp Director Wisdom School of Management Pollachi Tamilnadu India ABSTRACT Negative events in today s globalized world may lead to crises and thereby affect construction companies in time gradually. These events may occur suddenly or after a long process. Process- based crises usually send early warning signals and construction companies that can catch these signals can prepare against the forthcoming crises. One of the most important processes in crisis management is to establish an early warning system. This provides some time to take the required precautions against potential crises. After catching early warning signals construction companies that can successfully manage crises inform their personnel about approaching crisis to prepare organize a crisis team before the crisis and perform an effective struggle during the crisis. Construction companies which can survive in a crisis may evaluate opportunities of the crisis and start to make recovery studies after the crisis to turn to their former positions. If a construction company estimates a crisis well and executes crisis management efficiently they can overcome crises with zero or minimal damage. Key words Construction Project Management Economic Crisis National Crisis Cite this Article Sumesh Sudheer Babu and Dr. B. Sudhakar Construction Project Management During Economic Crisis. International Journal of Management 7 7 2016 pp. 371 381.
