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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?
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
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
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
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
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
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?
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?
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
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
Regardless of the document management system (DMS) that the project owner might require the JV Contractor to use on the...
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Why Joint Venture (JV) Contractors Must Use a PMIS When Managing Their Construction Projects Delivery? – Part 1: Achieving the 100% Buyout
It is a very common practice among construction contractors to joint venture when it comes to delivering mega-sized projects. Further,...
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Using the Building Information Model (BIM) to Better Visualize Material and Equipment Procurement Schedule on Capital Construction Projects
The growing adoption by project owners of solutions to digitally transform their capital construction projects has raised the need to...
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Managing Budget Cuts Due to the COVID-19 Pandemic
The disruption caused by the Covid-19 pandemic on capital construction projects will continue to be noticed in 2021 and years...
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What Progress Information is Critical to Report on During the Design Phase?
Like the construction phase, project owners of capital construction projects need to be aware of how their projects are performing...
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Manage Indirect Costs Using the Earned Value Management Method
Each capital construction project consists of direct and indirect costs. Direct Costs are the costs that are proportional to the...
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Demystifying the Truth About Connected Cost for Financial Performance Reporting
Having a single-version-of-the-truth financial performance reporting is one of the important, if not the most important, requirements when it comes...
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Ensuring the Timely Report Distribution to Project Stakeholders
One of the key requirements for any project, including capital construction projects, is the time distribution of performance and status...
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How to Use a Procurement to Enable Agile Digital Transformation of Procurement and Contract Management in Organizations
Although a Project Management Information System (PMIS) like PMWeb is mainly used to manage the delivery of capital construction projects,...
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Create and Maintain a Cost Database Using the Unit Price Rates of their Awarded Lump Sum Contracts
Unlike contractors who need to have a detailed estimate for the cost of labor and equipment resources, material, subcontract items...
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