Cost Management

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 by either the Work Breakdown Structure (WBS) or Cost Breakdown Structure (CBS) levels. The Project Management Institute (PMI) Project Management Book of Knowledge (PMBOK) defines the Work Breakdown Structure as Read more…

By Tony, ago

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 reporting the project’s cost is always a must requirement. This requires as a minimum to have a real-time report that provides a single version of the truth of the project’s Read more…

By Tony, ago

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 (ERP) to provide them with the actual cost incurred in delivering their capital construction projects. Nevertheless, those organizations also know that they have two key challenges that they always encounter Read more…

By Tony, ago