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Using Earned Value Management to Monitor, Evaluate, and Report Resources Efficiency Involved in Delivering Capital Projects
For engineering consultants, general contractors, EPC contractors, design-build contractors, subcontractors, and other entities whose project profitability depends on the efficiency...
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The Great Value of Cost Worksheets in Analyzing, Monitoring, Evaluating, and Reporting a Single Version of Your Capital Projects’ Portfolio Cost Performance
For organizations who are involved in the delivery of capital projects, regardless of whether they were the project owner, contractor,...
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How to Curb the Threat of Scope Creep to a Capital Project Budget?
One of the main objectives for capital project investments is to adhere to the approved project budget which was part...
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What Cost Curves Capital Projects Owners Must Have to Monitor, Evaluate and Report a Real-Time Single Version of the Truth of Their Projects’ Performance and Status?
For capital projects’ owners, having cost curves to monitor, evaluate and report the performance and status of those projects’ financial...
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Monitoring and Tracking Site Work Instructions on Construction Projects
Site Work Instructions (SWI) are written technical instructions issued to the contractor by the engineering consultant to execute a particular...
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Capital Project Owners’ Nightmare of Cost Overrun and Overestimated Benefits
Owners of capital construction projects always have the nightmare of cost overrun and overestimated benefits. Those two performance measures have...
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Capturing Supervision Consultant Overtime Charges for Supervising Contractor’s Activities in Construction Projects
One of the common items in interim payment applications for construction contracts is the deductions for the engineering consultant team...
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Using the Material Inspection Request (MIR) Process to Get Paid for Stored and Delivered Materials on Construction Sites
One of the elements of an interim payment on construction projects is the payment for the contractor’s procured material delivered,...
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Should ChatGPT Become One of The Must Applications to be Used on Capital Construction Projects?
The ChatGPT application (chat.openai.com/chat) is an open artificial intelligence platform that has been used by many in trying to get...
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Estimating the Finance and Overdraft Cost for Construction Project
One of the indirect costs that contractors need to estimate when submitting a bid for a construction project is the...
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Managing, Monitoring, Evaluating and Reporting a Project Contingency in Capital Projects
Risk buffering (or risk hedging) is the creation of some reserve or buffer that can absorb the effects of the...
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Setting the Project Control System (PCS) Quality Management Module: Technical Submittals
The Quality Management module is another critical project control system (PCS) module. The module addresses the quality assurance and quality...
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Setting the Project Control System (PCS) Cost Management Module: Cost Management Reports
Although each project control system (PCS) implementation has its own customized and branded cost management output forms, reports, and dashboards,...
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Setting the Project Control System (PCS) Cost Management Module: Connected Cost
All the cost data generated from the various PMWeb cost management processes is automatically captured in a single repository known...
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Setting the Project Control System (PCS) Cost Management Module: Actual Payment Made and Received Management
One of the key challenges that face organizations involved in delivering construction projects is getting paid for completed and approved...
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Setting the Project Control System (PCS) Cost Management Module: Funding Management
Whether the project control system (PCS) is being managed by the project owner or contractor, they both need to manage,...
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Setting the Project Control System (PCS) Cost Management Module: Revenue Management
Revenue management is mainly applicable to the project control system (PCS) that is being managed from the contractor’s perspective. The...
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Setting the Project Control System (PCS) Cost Management Module: Change Management
There is a very slim chance that a construction project is completed without encountering changes. There are many events that...
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Setting the Project Control System (PCS) Cost Management Module: Managing the Project Commitments
Commitments are the contract agreements for which the actual cost for delivering the project’s scope of work is per the...
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Setting the Project Control System (PCS) Cost Management Module: Managing the Project Budget
By definition, a project budget is the total estimated cost of completing each project activity over each phase of a...
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