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The Digitization of Cost Management on Capital Construction Projects
Regardless of a capital construction project type, size, complexity, delivery method, location or managed by who, managing, monitoring, evaluating, and...
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Why Integrating ERP and Project Management Information System (PMIS) is the Only Option for Capturing, Tracking, Monitoring, Evaluating, and Reporting of Every Aspect That Could Have an Impact on the Overall Cost of Capital Construction Projects
All organizations, whether they were project owners or contractors, have been using ERP, financial and other types of accounting systems...
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How to Convert a Capital Construction Project Cost Estimate into a Budget that can be Monitored, Evaluated, and Reported at the Required CBS Levels
One of the top great challenges that face project owners as well as contractors is how to convert their approved...
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Having a Report Worth Thousands of Words for Communicating Schedule and Cost Performance Status of Capital Construction Projects
For many capital construction projects’ stakeholders and in particular executive stakeholders, they always need to know whether a project is...
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Managing, Monitoring, Evaluating, and Reporting on the Funding Limit Reconciliation for Capital Construction Projects
Funding Limit Reconciliation for capital construction projects is the process of comparing the planned expenditure of project funds against any...
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How Can Executives Identify Fraud Actions in Payments for Interim Progress Invoices on Capital Construction Projects
One of the key issues associated with the execution of capital construction projects is the delayed payment of interim progress...
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How to Have a Reliable and Traceable Estimated Labor Resources Cost at Completion on Capital Construction Projects
For most capital construction projects, the labor planning and efficiency reporting mainly focuses on the planned, earned, actually spent, estimate...
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Can Having Well-Thought-Of Output Forms for Formally Communicated Transactions Help in Preventing Fraud on Capital Construction Projects?
For most capital project owners in the public and private sector, ensuring that the right policies and procedures are implemented...
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Blog Cost Management Costs Digital Transformation Forms Portfolio Risk Issue Management Tools Workflow
Why Artificial Intelligence (AI) can Become Meaningless if Risks and Change Management Are Not Closely Integrated on Capital Construction Projects
The main objective of using Machine Learning (ML) and Artificial Intelligence (AI) on capital construction projects is to enable stakeholders...
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Blog Cost Management Costs Digital Transformation Forms Portfolio Risk Issue Management Tools Workflow
Why Artificial Intelligence (AI) can Become Meaningless if Risks and Change Management Are Not Closely Integrated on Capital Construction Projects
The main objective of using Machine Learning (ML) and Artificial Intelligence (AI) on capital construction projects is to enable stakeholders...
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What Historical Data is Needed to Train Your Machine to Better Predict Cost Overruns and Schedule Delays on Capital Construction Projects?
The demand of predicting future results based on current performance and actions has been always a requirement when it comes...
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How to Capture All Changes and Their Impact When Managing the Contractor’s Contract Price on Capital Construction Projects
In our last article “How to Enforce the Culture of “100% Committed to Achieve” in Managing the Contractor’s Contract Price...
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How to Enforce the Culture of “100% Committed to Achieve” in Managing the Contractor’s Contract Price on Capital Construction Projects
For an EPC contractor, general contractor, subcontractor and other types of vendors who have been awarded lump-sum turnkey (LSTK) contracts,...
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Monitoring, Evaluating and Reporting the Value of Capital Construction Projects Using the Earned Value Management (EVM) Method
Monitoring, evaluating, and reporting the performance of schedule, cost and quality will always be a core requirement when it comes...
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Avoiding the Misuse of Budget Contingency Reserve on Capital Construction Projects by Enforcing the Best Practices of Transparency and Accountability While Unlocking Trapped Budget Reserve
Every capital construction project has risks that may affect the cost, schedule, or quality of the completed work. The likelihood...
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How Can Organizations Take Advantage from Their Past and Current Experience in Managing Change Orders to Build an Unbiased Assessment of Schedule and Cost Impact of Change Order Risks as well as Their Occurrence Likelihood on their Capital Construction Projects’ Portfolio?
Similar to any risk assessment, assessing the exposure of change orders risk on a capital construction project requires assessing the...
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Using Checklists to Expedite the Final Account Process on Capital Construction Projects
Final Accounts for capital construction projects are prepared to show the final cost of projects that have been completed by...
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How Capital Project Owners Can Monitor, Evaluate and Report on Payments on Account Against Accepted Change Orders That are Not Yet Approved to Revise the Value of the Awarded Construction Contract Agreement
One of the key challenges that face many capital project owners, mainly in the public sector, is how to manage,...
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Blog Contract Management Cost Management Costs Earned Value Management Performance Reporting Tools Workflow
Using the APM Earned Value Management Guidelines to Enable Contractors to Manage, Monitor, Evaluate and Report Project Cost Performance on Lump Sum Contracts from Their Own Perspective as well as From Project Owner Perspective
The Association of Project Management (APM) Earned Value Management (EVM) guidelines can be used by Contractors to provide them with...
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How to Have an Agile Solution to Monitor, Evaluate and Report the Status of Cost Estimates on Capital Construction Projects
To have a realistic budget for a capital construction project that an organization can commit to, the organization needs to...
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