Materials and equipments management is very crucial part in any project execution. Equipments involve heavy investment, so any leniency in selection, procurement, operation and maintenance can lead to adverse affect on project performance. With more and more mechanization of construction industry, equipment and machinery contributes a fair share to the progress of work in project. Equipment downtime due to breakdown, inefficient handling, inexperienced operator and poor maintenance adds to cost of project without contributing to its value. Wise selection, procurement using right method and timely maintenance will help to eradicate downtime and ensures that project work gets completed within stipulated time and cost.
Similarly, material requirement proceeds as project progresses. The material defined for a project is definite. This can be anticipated and estimated with fair degree of accuracy using logical calculation and experienced judgment at the very onset of project. Smooth execution of project depends largely on sufficient and on time supply of materials required. To ensure this, it is inevitable to have a material procurement plan. It starts from selecting right source of supply, which is trustworthy. Material selected should confirm to the specification provided as per execution contract. The time required for delivery after placing order should be known in advance; accordingly, adequate stock for consumption during that period needs to be maintained. Surplus material at site stock is undesirable at the same time under supply is also not acceptable. Even storage of material in stock adds to the cost of material without augmenting its value. Similarly, under supply of material will lead to delay in project activities. Delay beyond float available for an activity or delay in critical activities will cause delay in completion of project. As time is one of the important resources in project, any extension of time beyond scheduled time of completion will mean that project cost will run higher than the budgeted cost. In some of the contractual provision, delay beyond scheduled completion attracts obligation for payment of penalty.
For successful completion of a project within stipulated time and budgeted cost call for materials, equipments and machinery involved in project are efficiently managed. Such a management plan should be in good rapport with execution plan.