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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: 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: Forecast Management
Regardless of whose perspective the project control system is managed, both the project owner and his team as well as...
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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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Why Contractors Should Give Great Care in Estimating, Monitoring, Evaluating, and Reporting Preliminaries on Capital Construction Projects
One of the common line items of every single capital construction project’s bill of quantity or schedule of values is...
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Why Real Estate Developers and Investors Should Have a Comprehensive Cost Breakdown Structure (CBS) that Maps the Complete Project Life Cycle Costs and Revenues for Their Real Estate Investment Projects
For real estate developers and investors including special purpose vehicles (SPV) created for Public-Private-Partnership (PPP) projects, the cost of delivering...
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Can the Tedious Accruals Estimate Requirement be Eliminated by Implementing a Project Management Information System?
One of the major challenges that face organizations that are involved in capital construction projects delivery is determining the actual...
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Cost Breakdown Structure (CBS) for Capital Construction Project Revenues
For most of those involved in delivering capital construction projects, the cost breakdown structure (CBS) or cost accounts mainly focus...
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Work and Cost Breakdown Structures Based Monitoring, Evaluating and Reporting of Cost Performance on Capital Construction Projects
Project owners involved in delivering capital construction projects always have the requirement to monitor, evaluate and report project cost performance...
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Monitoring, Evaluating and Reporting Strategy Performance Outcomes in Project Centric Organizations
One of the key challenges that face project-centric or project-driven organizations and in particular those in the public sector is...
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The Threats of Bad Data and Opportunities of Good Data When Managing, Monitoring, Evaluating and Reporting Performance of Capital Construction Projects
A study shows that in 2020, bad data may have caused $1.8 trillion in losses worldwide and may be responsible...
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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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Implementing a Three-Stage Change Management Process on Capital Construction Projects
For capital construction projects that use the FIDIC form of contract, a variation is a change in the form, quality,...
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Why Digitizing Project Management Business Processes for Capital Construction Projects Is the Only Way Forward To Survive?
No one can deny that the fourth industrial revolution 4.0 (Industry 4.0) will impact all industries including the construction industry. One of...
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Why It is Crucial to Associate CRM Data with Project Management Information Systems (PMIS) Data for Real Estate Development Projects
Regardless of the CRM solution selected by a real estate developer, there is always a requirement to associate the captured...
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The Fourth Industrial Revolution 4.0 (Industry 4.0) and its Impact on Managing the Execution of Capital Construction Projects
So much has been written and said on how the fourth industrial revolution 4.0 (Industry 4.0) will impact the delivery...
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