Research On Cost Management For Grand Hyatt International Real Estate Project

Along with the high economic development and accelerated urbanization, the growth industry in real estate has become a pillar industry in China. Under this circumstances, cost management for the whole process, under an effective method, may not only make the real estate enterprise in an unbeatable situation with profit margins in the maturing market competition, but can also reasonably control the resources consumption in order to achieve sustainable development and social benefits.The earliest cost management theory for the whole process is appeared in western countries in the 1950 s, while the theory, which is mainly concentrated in the construction industry, has been used in China for 40 years. By combining the viewpoint of case Grand Hyatt International Real Estate Project, this research paper analyzes the current status of the cost management for the whole process, through the on-site investigation and interviewing the leaders and middle-level managers of Hebei Elite Real Estate. The paper combines the qualitative and quantitative analysis through the literature research, theoretical analysis and empirical research; considers the basic construction progress of the Grand Hyatt International Real Estate project; focus on the method and strategy for the cost management form the planning and design stage, construction stage and sale stage. Through both qualitative and qualitative analysis during planning and design stage, construction stage and sales stage, the paper analysis on the technical and economical view to ensure the cost could under control in each stage of the project. By preventing the over budget issues and improving the economic benefits, the competitiveness of the Grand Hyatt International Real Estate Project has been enhanced.It is hoped that the research method of this paper can provide some reference for other real estate enterprises to provide some reference for reducing consumption, improving the market competition and improving the profit space.It is hoped that the research method of this paper can be referenced by the real estate enterprises for consumption reduction and efficiency improvement; enhancement of competitiveness; and the increasing of the profit margins for the real estate project in the future.