Revenue management is mainly applicable to the project control system (PCS) that is being managed from the contractor’s perspective. The revenue or income contract agreement is the contract agreement between the project owner and the contractor. This contract is also the basis for the cost-loaded project schedule. Having said that, Read more…
Regardless of whose perspective the project control system is managed, both the project owner and his team as well as the contractor have the requirement to have a formal process for recording, monitoring, and evaluating the forecast cost to complete the remaining project’s scope of work. The earned value management Read more…
There is a very slim chance that a construction project is completed without encountering changes. There are many events that could cause a change. For example, those include the intent of documents not “reasonably inferable” and corrections required, unknown conditions necessitating changes, the project owner’s requirements change, changes in code Read more…
