Setting the Project Control System (PCS) Cost Management Module: Definite Cost Estimate

Setting the Project Control System (PCS) Cost Management Module: Definite Cost Estimate

The third Project Control System (PCS) module needed for construction projects is the cost management module. In doing so, it...
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Evaluating and Shortlisting Capital Investment Opportunities Using Profit Investment Ratio (PIR) and Risk Exposure Measures

Evaluating and Shortlisting Capital Investment Opportunities Using Profit Investment Ratio (PIR) and Risk Exposure Measures

When it comes to evaluating and shortlisting capital investment opportunities, an organization needs to consider selecting and investing in them...
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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

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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Visualizing, Analyzing, and Investigating Building Information Modeling (BIM) Enabled Connected Cost

Visualizing, Analyzing, and Investigating Building Information Modeling (BIM) Enabled Connected Cost

Having a single version of the true financial performance reporting is one of the important if not the most important...
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Visualizing, Analyzing and Investigating Building Information Modeling (BIM) Enabled Cost Estimates

Visualizing, Analyzing and Investigating Building Information Modeling (BIM) Enabled Cost Estimates

The growing adoption of Building Information Modeling (BIM) has helped users take advantage of the different data types captured in...
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Cost Breakdown Structure (CBS) for Capital Construction Project Revenues

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

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

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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How to Convert a Capital Construction Project Cost Estimate into a Budget that can be Monitored, Evaluated, and Reported at the Required CBS Levels

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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Can Machines be Trained to Learn How to Detect Fraud Transactions on Capital Construction Projects?

Can Machines be Trained to Learn How to Detect Fraud Transactions on Capital Construction Projects?

The tendency to commit fraud is very much part of every business and capital construction projects are no different. Actually,...
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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

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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Using Project Management Information System (PMIS) for Agile Job Costing Implementation on Capital Construction Projects

Using Project Management Information System (PMIS) for Agile Job Costing Implementation on Capital Construction Projects

Job costing is essential to any business's bottom line, but it is especially crucial in the construction industry. Job costing...
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Using Technology to Enable a 360-Solution to Manage, Monitor, Evaluate and Report the Performance of Retail Brands Expansion and Remodeling Programs and Projects – Step 2: Ensure that you have a Single Version of the Truth Visibility of Your Projects’ Financial Performance

Using Technology to Enable a 360-Solution to Manage, Monitor, Evaluate and Report the Performance of Retail Brands Expansion and Remodeling Programs and Projects – Step 2: Ensure that you have a Single Version of the Truth Visibility of Your Projects’ Financial Performance

Having a trustworthy single version of the truth of the financial status of either an expansion or remodeling project for...
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Using Technology to Enable a 360-Solution to Manage, Monitor, Evaluate and Report the Performance of Retail Brands Expansion and Remodeling Programs and Projects – Step 1: Ensure that you have a Single Version of the Truth Visibility of Your Complete Projects’ Portfolio for Each Retail Brand

Using Technology to Enable a 360-Solution to Manage, Monitor, Evaluate and Report the Performance of Retail Brands Expansion and Remodeling Programs and Projects – Step 1: Ensure that you have a Single Version of the Truth Visibility of Your Complete Projects’ Portfolio for Each Retail Brand

Whether it is a luxury or casual goods or cloths, family dining or fast-food restaurants, coffee shop or donut outlet,...
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Why Contractors Could Be Facing Unprecedent Threats When Project Owners Decide to Use Project Management Information Systems (PMIS) or Document Management Systems (DMS) to Enable Formal Communication Between Project’s Parties on Their Construction Projects

Why Contractors Could Be Facing Unprecedent Threats When Project Owners Decide to Use Project Management Information Systems (PMIS) or Document Management Systems (DMS) to Enable Formal Communication Between Project’s Parties on Their Construction Projects

For construction projects that project owners have either adopted a Project Management Information System (PMIS) or even a Document Management...
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Why the Internal Rate of Return (IRR) Should be Part of the Monitoring, Evaluating and Reporting on Your Capital Construction Project Investments Performance

Why the Internal Rate of Return (IRR) Should be Part of the Monitoring, Evaluating and Reporting on Your Capital Construction Project Investments Performance

Although many of those involved in investing in capital construction projects have different criteria to decide if the project opportunity...
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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?

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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Why We Need to Manage, Monitor, Evaluate and Report on Deliverables Activities as Business Processes While Executing the Project Life Cycle Stages

Why We Need to Manage, Monitor, Evaluate and Report on Deliverables Activities as Business Processes While Executing the Project Life Cycle Stages

Whenever an entity wants to deliver a project including a capital construction project, one of the first documents that get...
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Capturing and Reporting Construction Material Price Index

Capturing and Reporting Construction Material Price Index

Organizations who are involved in delivering capital construction projects always need to know the current material price of key construction...
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Why Joint Venture (JV) Contractors Must Use a PMIS When Managing Their Construction Projects Delivery – Part 2: Managing Project Documents

Why Joint Venture (JV) Contractors Must Use a PMIS When Managing Their Construction Projects Delivery – Part 2: Managing Project Documents

Regardless of the document management system (DMS) that the project owner might require the JV Contractor to use on the...
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