One of the key challenges that face organizations involved in delivering construction projects is getting paid for completed and approved work in place promptly. Payment delays have a drastic effect on the project’s success and can lead to contract termination. The issue of delayed payments applies to both cases, payments Read more…
Regardless of whose perspective the project control system is managed, both the project owner and his team as well as the contractor have the requirement to have a formal process for recording, monitoring, and evaluating the forecast cost to complete the remaining project’s scope of work. The earned value management Read more…
The third Project Control System (PCS) module needed for construction projects is the cost management module. In doing so, it is very important to understand the difference between cost management and revenue management. Cost management addresses the different processes needed to ensure that the cost of the construction project does Read more…
