The document discusses project management concepts related to coordination and control. It describes a 5 step project management process including planning, organizing, controlling, and closing phases. It emphasizes the importance of coordination and control functions like establishing control tools, reviewing schedules, issuing change orders, and conducting audits. Overall, the document outlines best practices for monitoring project progress, managing changes, and ensuring project objectives are met on time and on budget.
UNIT IV
PROJECT MANAGEMENT AND CONTROL
Framework for Management and control – Collection of data Project termination – Visualizing progress – Cost monitoring – Earned Value Analysis- Project tracking – Change control- Software Configuration Management – Managing contracts – Contract Management.
Episode 23 : PROJECT TIME MANAGEMENT
Activity Definition – identifying the specific activities that must be performed to produce the various project deliverables
Activity Sequencing – identifying and documenting interactivity dependencies
Activity Duration Estimating – estimating the number of work periods that will be needed to complete individual activities
Schedule Development – analyzing activity sequences, activity durations, and resource requirements to create the project schedule
Schedule Control – controlling changes to the project schedule
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
Java programming presentations By Daroko blog
Do not just read java as a programmer, find projects and start making some Money, at DAROKO BLOG,WE Guide you through what you have learned in the classroom to a real business Environment, find java applications to a real business Environment, find also all IT Solutions and How you can apply them, find the best companies where you can get the IT jobs worldwide, Find java contract, Complete and start making some cash, find clients within your Country, refer and get paid when you complete the work.
Not Just a contact, at daroko Blog (www.professionalbloggertricks.com/),you are also being taught how you can apply all IT related field in real world.
Simply Google, Daroko Blog or visit (www.professionalbloggertricks.com/) to Know More about all these service now.
Do not just learn and go, apply them in real world.
UNIT IV
PROJECT MANAGEMENT AND CONTROL
Framework for Management and control – Collection of data Project termination – Visualizing progress – Cost monitoring – Earned Value Analysis- Project tracking – Change control- Software Configuration Management – Managing contracts – Contract Management.
Episode 23 : PROJECT TIME MANAGEMENT
Activity Definition – identifying the specific activities that must be performed to produce the various project deliverables
Activity Sequencing – identifying and documenting interactivity dependencies
Activity Duration Estimating – estimating the number of work periods that will be needed to complete individual activities
Schedule Development – analyzing activity sequences, activity durations, and resource requirements to create the project schedule
Schedule Control – controlling changes to the project schedule
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
Java programming presentations By Daroko blog
Do not just read java as a programmer, find projects and start making some Money, at DAROKO BLOG,WE Guide you through what you have learned in the classroom to a real business Environment, find java applications to a real business Environment, find also all IT Solutions and How you can apply them, find the best companies where you can get the IT jobs worldwide, Find java contract, Complete and start making some cash, find clients within your Country, refer and get paid when you complete the work.
Not Just a contact, at daroko Blog (www.professionalbloggertricks.com/),you are also being taught how you can apply all IT related field in real world.
Simply Google, Daroko Blog or visit (www.professionalbloggertricks.com/) to Know More about all these service now.
Do not just learn and go, apply them in real world.
Asset finance system project initiation 101. “Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.” This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
“Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.”
This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
Industry experts, Bob Prieto, veteran executive with Fluor and Parsons Brinckerhoff, and Hans Hoppe with Parsons, share valuable information on the failure points of Mega Projects and proven methods of managing these projects to beat the odds and succeed. It is estimated that 9 out of 10 projects that cost $1 billion dollars or more, go over budget. Learn how we as an industry can change those numbers and improve the way the world builds.
Running Head PROJECT PLAN-BUSINESS REQUIREMENT DOCUMENT .docxjeanettehully
Running Head: PROJECT PLAN-BUSINESS REQUIREMENT DOCUMENT
1
Project Plan-Business Requirement Document
Ali Allami
CIS 599
Graduate Information Systems Capstone
Supported by: Professor. Mark Cohen
Oct 27, 2019
PROJECT PLAN-BUSINESS REQUIREMENT DOCUMENT 2
Abstract
The project plan inception has been complete in last week with introduction documenting the cur-
rent IT network and that system is very important. Many kinds of businesses have an operation in place
to help with project management and implementation requirement. There is a chance for improvement
includes making suitable assessments of how to size a project is and project cost estimated.
There are multiple various names for tools that used with for this process: business needs requirement
and specification, requirements specification or, simply, business requirements. Business requirements
are the significant works of a company that must be done to make the company successful. And a busi-
ness requirements document (BRD) means company work documentation. The BRD process can be
incorporated within a Six Sigma DMAIC Define, Measure, Analyze, Improve, and Control culture.
Completion of a quality requirements document allows user needs and expectations to be captured, so
that infrastructure and information systems can be designed properly. Using the requirements document
provided in the course shell as a part of the requirements gathering process. You are to assess the needs
of the company as it prepares to become a multinational organization. You must consider current and
future trends and requirements; however, assumptions should be realistic and carefully considered. The
needs of the organization should be documented. Later deliverables will focus on specifics of all re-
quirements.
In the Business Require Document of this project I will describe the project summary and project
scope of work. In the scope, I will explain how to control the scope. Then I will describe the possible
risks, then integration with database and data warehousing, cloud technology and Virtualization, and
security level. The Project plan in MS Project (.mpp file) will be in the second attaced.
PROJECT PLAN-BUSINESS REQUIREMENT DOCUME ...
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
The key differences between the MDR and IVDR in the EUAllensmith572606
In the European Union (EU), two significant regulations have been introduced to enhance the safety and effectiveness of medical devices – the In Vitro Diagnostic Regulation (IVDR) and the Medical Device Regulation (MDR).
https://mavenprofserv.com/comparison-and-highlighting-of-the-key-differences-between-the-mdr-and-ivdr-in-the-eu/
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
2. 5 STEP PROJECT MANAGEMENT
PLANNING
IMPLEMENTATION
DEFINE
PLAN
ORGANIZE
CONTROL
State the
Problem
Identify
project
activities
Determine
Personnel
Needs
Define
Management
Style
Obtain
Client
Acceptance
Estimate
time and
cost
Sequence
Project
Activities
Recruit
Project
Manger
Recruit
Project Team
Establish
Control Tools
Install
Deliverables
Determine
Preliminary
Resources
Identify
Critical
Activities
Organize
Project Team
Review
Project
Schedule
Issue Final
Report
Identify
Assumptions
and Risks
Write
Project
Proposal
Assign Work
Packages
Issue Change
Orders
Conduct PostImplementation
Audit
Identify
Project
Goals
List the
Objectives
Project overview
WBS
Project network
Critical Path
Recruit Criteria
Define Work packages
Assign Work Packages
Prepare
Status Reports
CLOSE
Document the
Project
Variance Reports
Final Report
Status Reports
Audit Reports
Staff Allocation Reports
2
3. 1.EVERY PROJECT HAS ITS OWN BOUNDARIES AND LIMITS
2.PROJECT WILL FACE ROUGH WEATHER IN THE
BEGINNING
3.PROJECT WILL TAKE QUITE A LONG TIME TO ACQUIRES
ANY SEMBLANCE OF STABILITY
4.IT HAS TO LOOK FOR HELP FROM EXTERNAL
INTERVENTION
5.IF NOT, THEN THE WORK SYSTEM WILL DISINTEGRATE
6.THE SUPPORT WILL NOT BE AVAILABLE AT CRITICAL
MOMENTS
4. TYPES OF EXTERNAL INTERVENTION
1. PROJECT DIRECTION
2.PROJECT COORDINATION
3.PROCT CONTROL
5. CHARACTERISTICS
1.IT CARRIES A STAMP OF AUTHORITY
2.IT FORCE TO GET RESULT
3.IT NEEDS AT DIFFERENT PROPORTIONS AT DIFFERENT
PHASES OF PROJECT
4.THESE ARE THE ESSENCE OF PROJECT MANAGEMENT
6. WHAT IS PROJECT DIRECTION?
PROJECT DIRECTION REFERS TO THE USE OF AUTHORITY
TO CHANNELISE THE VARIOUS ACTIVITIES OF THE PROJECT
ON DESIRED LINES….
1. IT IS MAINLY CONCERNED WITH THE IMPLEMENTATION
PHASE OF THE PROJECT
2.WHEN SCHEDULES ARE AUTHORISED, THEY BECOME
WORKING DOCUMENTS
3.EXECUTIVE AGENCIES OR INDIVIDUALS WILL THEN
STRICTLY FOLLOW THE PLANS AND SCHEDULES
7. PROJECT INITIATION PERIOD
1.SCOPE OF WORK
2.SPECIFICATION OF RESULTS OF COMPLETED WORK
3.BASIS OF WORK
4.DIVISION OF WORK
5.SCHEDULE OF WORK
6.BUDGET OF WORK
7.SYSTEM AND PROCEDURE FOR WORK
8.COORDINATION OF WORK
8.AUTHORITY AND ACCOUNTABILITY OF WORK
9.CONTROL OF WORK
8. PROJECT KICK-OFF MEETING
1. COORDINATION OF THE PROJECT REQUIREMENT AND THAT
OF THE PARTICIPATING AGENCIES
2.ESTABLISHMENT OF DIRECTIVES AND CONTROL
3.TEAM BUILDING
4.COMMUNICATION
9. DIRECTION DURING PRODUCTION PHASE
1.DIRECTION IS PROVIDED ON A CASE TO CASE
BASIS THROUGH FORMAL DOCUMENT
2.DESIGN REVIEW MEETING
3.VALUE ENGINEERING REVIEW
10. DESIGN REVIEW MEETINGS
1.REVIEW MEETINGS PROVIDE A FORUM FOR
PARTICIPATIVE DECISION MAKING AND COMMUNICATION
OF DIRECTION
2.A DESIGN REVIEW MEETINGS ARE HELD TO CRITICALLY
EXAMINE AND AUTHORISE THE BASIC DESIGN WHICH HAS
TO TAKE OF ALL SUBSEQUENT WORK ON PROJECT
HARDWARE
3.SINCE THE BASIC DESIGN IS SO IMPORTANT FOR THE
PROJECT, A CRITICAL REVIEW BY TOP SPECIALISTS AND
APPROVAL FROM APPROPRIATE AUTHORITIES ARE
ESSENTIAL BEFORE IT IS ISSUED DOWN THE LINE FOR
IMPLEMENTATION
11. CONTINUED:
4.A DESIGN REVIEW MEETING CHECKS THE PROJECT
DESIGN FROM ALL ANGLES (FUNCTIONAL UTILITY, ENERGY
OPTIMISATION, HANDLING
MINIMISATION, CONSTRUCTABILITY, SAFETY, ENVIRONMEN
TAL IMPACTS AND ECONOMY)
5.THE RESULTANT EFFECT OF ANY GOOD OR BAD DESIGN
IS COST, THE DESIGN FINALLY TO BE RELEASED FOR
IMPLEMENTATION MUST BE COST EFFECTIVE
12. VALUE ENGINEERING REVIEW
1.A VALUE ENGINEERING REVIEW USES COST AS THE
BASIS OF REVIEW AND ENSURES THAT VALUE IS INCLUDED
IN DESIGN
2.VALUE OF AN ITEM, IN THIS CONTEXT WOULD MEAN THE
MINIMUM COST AT WHICH THE FUNCTION PROVIDED BY
THE ITEM UNDER REVIEW COULD BE OBTAINED FROM ANY
OTHER ITEM. THUS WHEN NON FUNCTIONAL COST IS
REMOVED FROM AN ITEM, ITS VALUE INCREASES
3.IN VALUE ENGINEERING REVIEW ONE WOULD COMPARE
THE HARDWARE COST OF AN ITEM WITH ITS VALUE
14. STAGES OF VALUE ENGINEERING
REVIEW
1.BASIC PACKAGE REVIEW
2.TENDER OR WORK PACKAGE REVIEW
3.POST CONTRACT ENGINEERING REVIEW
15. PURCHASE ORDERS AND WORK ORDERS
1.TECHNICAL DIRECTIONS
2.COMMERCIAL DIRECTION
3.MANAGERIAL DIRECTION
4.ADMINISTRATIVE DIRECTION
16. ONGOING DIRECTIONS
1.UNDERSTANDING THE DECISION ENVIRONMENT.
2.ESTABLISHING THE DECISION ALTERNATIVES.
3.EVALUATION OF ALTERNATIVES AND SELECTION.
4.COMMUNICATING THE DECISION .
5.CHECKING UP IF THE DECISION IS WORKING OR NOT.
17. COMMUNICATIONS MANAGEMENT
Develop the project communication plan
Stakeholder analysis
Information to be shared (to who, what, how, when, why)
Technology
Distribute information
Project databases, filing system, software / hardware
Report up, down and across the firm
17
20. COMMUNICATIONS MANAGEMENT TIPS
If you think you have communicated
enough…go back and do it again
Use different formats
Frequently use modes of communication that
allow you to “see the whites of their eyes”
20
21. Role of MIS in Project Management
Why
Do People Need Information?
Individuals
- Entertainment and
enlightenment
Businesses
- Decision making, problem
solving and control
22.
Information system allows managers to
make effective and timely decisions.
will supply the managers, information from
which to base their decision on.
These are known as Management
Information Systems (MIS).
23. MIS - DEFINITIONS
Definitions – vary in the literature
“…MIS is an integrated computer based usermachine system that provides information for
supporting operations and decision making
functions”
Awad (1988)
24. MIS DEFINED
“..It [MIS] is a system using formalised
procedures to provide management at all
levels in all functions with appropriate
information based on data from both internal
and external sources, to enable them to
make timely and effective decisions for
planning, directing, and controlling the
activities for which they are responsible..”
Lucey (1997)
25. MIS DEFINED
“..Organized approach to the study of information
needs of management at every level in making
operational, tactical, and strategic decisions. Its
objective is to design and implement manmachine procedures, processes, and routines
that provide suitably detailed reports in an
accurate, consistent, and timely manner..”
www.Businessdictionary.com (2009)
26. Terminology Confusion
MIS
= the study of information
technology in business settings
But,
MIS is also a term often used to
refer class of systems which support
operational and tactical decision making
27. Basic Requirements for a Project
Management Information System:
Each project header must be able to
update his project on a monthly basis.
The project leader must be able to
manually device the information needed to
measure the progress of the project.
The analysis reports must be then typed
up for distribution.
29. Components of MIS
Scheduled reports
Produced periodically, or on a schedule
(daily, weekly, monthly)
Key-indicator report
Summarizes the previous day’s critical activities
Typically available at the beginning of each day
Demand report
Gives certain information at a manager’s request
Exception report
Automatically produced when a situation is unusual or
requires management action
30. Optimum Project MIS may be described as follows:
The existing information system are reduced to three
elements
human resources
financial resources
material resources
Direct entry of data is via terminals with CRT’S
Individual reports may be generated for other than
project needs.
Information is formulated along with estimates supplied
by the project leader to display a current summary.
31.
Additional reports could be generated from this
information such as facilities scheduling , work
planning , manufacturing engineering etc…..
Project plans can be transferred by project
leaders to line management via a CRT.
The system will have the capability to access
central pertinent files.
The system will have the capability for data
correction at the original source, thus reducing
the labour required.
32. MIS Should be..
Flexible: for different ways of analysing
data, and evaluating information.
Range of skills and knowledge catered for.
Assist the operational process through
communication between staff.
Easy to extract the relevant information
i.e., it is presented in an appropriate way.
34. •
When do we say that the performance of
any project is good or not ?
The performance of a project is good
when it is completed based on time
constraints, specified budget and project
specifications.
Otherwise the project ends up with failure.
35. Some of the reasons for the poor
performance of a project are:
If it is abandoned at half the way.
If it is not producing a specified quality of a
product.
If it becomes sick soon after going in to the
commercial production.
36. PERFORMANCE INDICATORS:
The investor, project manager and also the
public must be given with some indications
about the management while the project is
still in progress.
37. Some of the performance indicators are:
Time over-run
Cost over-run
Project sickness
Productivity
Value
38. 1) TIME OVER-RUN:
This basically means not sticking to a pre-planned time schedule of
the project. In order to get the job cleared through the approving
authorities, a schedule may be fixed which can be far away from
realistic.
The vendors and contractors may just add to the confusion by
promising deliveries which can make anything possible on paper.
Besides, some subsequent modifications or changes have to be
made to suit the project requirements which in turn increases time
and cost.
2)COST OVER-RUN:
Anything done to a project including time over-run would be reflected
in the cost.
Cost estimates in a project are to be revised at various stages to
improve their accuracy.
Cost over-run is used to represent the variance between the original
cost and the final cost incurred.
40. 3)PROJECT SICKNESS:
An efficient project manager is the one who makes the best possible
use of resources for achieving the project objectives.
What ever the project manager does w.r.t the resources will be
reflected in the cost and what the project manager provides in return
to justify this cost is a plan which is to be called successful and must
provide a saleable output.
The ratio of this output to the cost incurred for putting up the plan
could be an indicator of a project management performance.
4)PRODUCTIVITY:
A productivity indicator reflects how the resources have been utilized
either for production of goods and services or for creation of facilities
for the same.
Productivity is mainly measured to ensure the profitability of the
plant and to ward of the sickness.
41. 5)VALUE:
Value in this context, indicates the quality of the
products or services that are the final outcome of a
project.
If the product or services do not meet customers
requirement, then the ideas such as time overrun, cost over-run, high productivity, all become
redundant.
PROGRESS CONTROL:
It requires a continuous monitoring during the
production phase.
There must be a right contractual stipulations
regarding warranties and guarantees.
42. PERFORMANCE PARAMETERS:
These are the parameters which are required to
be identified in a project.
• Some of the critical performance parameters are;
Raw materials
Power consumption per unit of production
Outcome etc….
How ever the design and specifications must be
made to meet these performance requirements.
Thus the critical performance parameters must be
tracked through all the stages of project execution
till the final performance guarantee confirms the
achievement of the performance.
43. COST OF A PROJECT
This includes the total amount spent
on all items associated with a project which
are supported by funds, investments etc..
44. The amount spent on the following
constitutes the project cost:
Land and site development
Building and civil works
Plant and machinery
Technical know-how & engineering fees
Pre-operative costs
Maintenance costs & others
45.
COST CONTROL
This involves the monitoring of costs,
recording information in different areas
and analyzing these massive quantities of
data – in order to take the corrective
action before it is too late.
46. Anything done to a project including time
& performance factors, will be reflected in
the cost - they are interrelated.
Hence, the cost control is of prime
importance in the success of a project.
If the project cost can be brought down
without compromising on the time and
performance parameters, then that would
indicate an excellent cost management.
47. It includes the following factors Cost estimation
When creating a budget for a job, project
management must be able to engage properly in
the process of cost estimating. This is a calculated
projection of the cost for the materials required by
the project. The materials considered in cost
estimating can be any resources required for the job
such as raw materials or employee wages. Too high
an estimate, and the bid could be lost to another
company.
48.
Cost accounting
“ The language of business “
it is the art of recording, classifying and
summarizing the transactions of money
and different events in a significant manner.
Maintenance of project ledgers
- showing WBS budget-line items
- expenditures & forecasts.
49.
Direct costs
The costs that are directly attributed to the
project work. These are also called
variable costs because their rate of
expenditure depends on the intensity of
the project activity.
If no work is done, then no direct costs.
50.
Indirect costs
-these are the costs that must be incurred
by the organization to provide
heat, light, rent, insurance, maintenance
costs and others. These costs do not vary
from day to day, hence they are called
Fixed costs, also known as Overhead
costs.
51.
Cost escalation
- increase in all costs above their original
estimate in case of national cost inflation
and increase in wages & salaries.
This is expressed as a percentage
and only significant in times of high
inflation and for projects planned to last for
several years.
52. COST CONTROL METHODS:- cost can be
controlled under the following stages of a
project (ex:construction project)
At zero date
- control estimate, budgeting & network
plan should be implemented. Time control
and hence cost control by budgetary
restrictions.
During detailed engg.
- the cost control estimates prepared
before zero date will soon overrun unless
design & engineering procedures are cont.
reviewed. It includes-
53. - Over all plot plan
- Building designs
-Specifications & drawings
During procurement phase : - competitive bidding is
the most common practice for procuring a technically
feasible item at lowest cost. In addition to this, following
steps are taken for cost control :
1.
2.
3.
4.
Vendor association in specification
Detailed scope and specifications
General conditions of contract (GCC)
Delivery in erectable sequence
54. During construction:- less scope for
cost reduction. However there are certain
items for cost control:
1. Extra items
2. Idle charge
3. Inventory costs
4. Cash flow planning
5. Cost of operating staff and administrative
expenses.