Book excerpt: In this new era, changes and innovations that happen in the construction industry force the industry players to increasingly seek knowledge to enhance their firm and project competitiveness. Small as well as large industry players has no exceptions from identifying their strategy for business survival and success. To accommodate those needs, this book presents the new management approaches that could be learned and applied in managing firms and projects. The book goes on to explore the strategic management and project management approaches of business and project entities in construction. Knowledge and ideas discussed in this book were contributed by scholars who are closely involved with research in the industry. Having read their ideas, improving performance would be a significant contribution of this book to the existing and future industry players in construction. Being simultaneously dependent upon each other, this book sees the need to incorporate the various approaches in managing projects and businesses in the construction industry. There will be no doubt, by understanding and practising the approaches, the competitiveness of the industry will be improved.