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Setting the Project Control System Communication Management Module
Communication management is an integral component of any project control system (PCS) regardless of the construction project type or size...
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How to Manage the Project Control System Delegation of Authority to Increase Accountability While Performing Project Management Processes
Regardless of the size, type, or location of a construction project, there are always authority approval levels set for each...
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Creating the Project Directory in the Project Control System (PCS)
The project’s responsibility assignment matrix (RAM) provides details of the entities and individuals involved in delivering the project. In addition,...
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Digitalizing the Issued for Construction (IFC) Contract Documents as per the FIDIC Contract Agreement for Capital Construction Projects
The Issued for Construction (IFC) drawings are sets of detailed design drawings prepared by the Design Consultant and are an...
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Why Have a Real-Time Cost Ledger for Capital Construction Projects
By definition, a cost ledger is one of the books of account in a cost system to which entries are...
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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
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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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
The growing adoption of Building Information Modeling (BIM) has helped users take advantage of the different data types captured in...
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Why Public Sector and Publicly Listed Entities Need to Implement Proactive Internal Audit for Their Capital Construction Projects
Many project owners and in particular those from the public sector or publicly listed companies have the requirement to conduct...
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Why Most Updated Schedules for Capital Construction Projects Might Not Be That Perfect
One of the great challenges on capital construction projects is how frequently the project schedule needs to be updated. The...
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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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Contractual Obligations and Implications Under the FIDIC Contract Form of Agreement for Sub-Clause 4.21 Monthly Progress Report on Capital Construction Projects
FIDIC sub-clause 4.21 requires the contractor to prepare monthly progress reports, the first of which shall cover the period up...
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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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Monitoring, Evaluating and Reporting Real Estate Investments’ Key Performance Indicators
For real estate developers and investors, the performance of their real estate investments is not limited to the stages of...
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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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How Can the Project Management Team Estimate the Appropriate Contingency Reserve Amounts for Capital Construction Projects?
Project contingency reserve is the amount to be added to the project’s baseline budget to cover the monetary impacts of...
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