Why Have a Real-Time Cost Ledger for Capital Construction Projects

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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Can Individuals be Accused of Fraud for Deceitful and/or Unauthorized Review and Approval Actions on Capital Construction Projects? 

Can Individuals be Accused of Fraud for Deceitful and/or Unauthorized Review and Approval Actions on Capital Construction Projects? 

By definition, fraud is the crime of deceiving someone in order to secure unfair or unlawful gain or something else...
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Digital Transformation to Enable Proactive Project Risk Management and Reporting

Digital Transformation to Enable Proactive Project Risk Management and Reporting

Uncertainties are inherited in every project delivery and in particular capital construction projects. By nature, projects are all about committing...
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Managing, Monitoring, Evaluating and Reporting Performance of Provisional Sums on Capital Construction Projects’ Contracts

Managing, Monitoring, Evaluating and Reporting Performance of Provisional Sums on Capital Construction Projects’ Contracts

It is very common for many capital project owners to include provisional sums in their contract agreements. Provisional sums are...
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How Can Project Owners Accurately Estimate, Monitor, Evaluate and Report Their Organization’s Allocated Costs to the Project Capital Construction Projects Delivery?

How Can Project Owners Accurately Estimate, Monitor, Evaluate and Report Their Organization’s Allocated Costs to the Project Capital Construction Projects Delivery?

Project owners who are actively involved in delivering their capital construction projects portfolio understand that their own organization costs allocated...
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Why Contractors Should Give Great Care in Estimating, Monitoring, Evaluating, and Reporting Preliminaries on Capital Construction Projects

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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How Can a Project Management Information System Support the Building of the Perfect Project Control Organization for Capital Construction Projects?

How Can a Project Management Information System Support the Building of the Perfect Project Control Organization for Capital Construction Projects?

The paper titled “Skills and Knowledge Requirement for Project Control Professionals” by Allan Crow, Vincent Sovis and Harish Chopra provides...
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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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Adopting a Paperless Strategy for Document Attachments on Everyday Communication Records on Capital Construction Projects

Adopting a Paperless Strategy for Document Attachments on Everyday Communication Records on Capital Construction Projects

One of the common requirements on all capital construction projects is that most project related communications, require attaching different types...
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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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Can the Tedious Accruals Estimate Requirement be Eliminated by Implementing a Project Management Information System?

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

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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Why Public Sector and Publicly Listed Entities Need to Implement Proactive Internal Audit for Their Capital Construction Projects

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

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 

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

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

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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The Threats of Bad Data and Opportunities of Good Data When Managing, Monitoring, Evaluating and Reporting Performance of Capital Construction Projects

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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