Cost Control Methodology

Cost Compliance Monitoring will work with the Team toDefine the objectives of the cost management plan; develop the implement a cost monitoring and compliance system utilizing available resources, specifying cost monitoring methods and frequency of updating, cost tracking and reporting.

Design Cost Management includesEstimating the cost and budget impact of design elements; evaluating design detail and changes and estimating their cost impact on the budget; establishing effective value analysis program, alternative systems, methods, components and materials, trade off factors in terms of first vs. lifetime cost, availability, time of delivery, aesthetics, etc.

Construction Phase Cost Management, includes: Specifying cost monitoring and management procedures ; understanding risks of project budgeting and cost analysis efforts; specifying, developing and implementing an effective schedule of values for prompt and equitable payment requests evaluation, specifying, developing and implementing and integrated cost-loaded schedule; developing and implementing and effective change order control and evaluation system, factors governing cost changes during construction; specifying, developing and implementing and effective procedure for controlling, analyzing and evaluating cost of potential claims.

Cost Control, includesUtilizing of man hour/cost forecasting productivity studies, impact analysis, efficiency losses, preparation and review and contracts awards, contracting procedures and types: advantages and constraints; interactions and relationships among project development team; responsibilities and management structure of project management team.