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…
There is a very slim chance that a construction project is completed without encountering changes. There are many events that could cause a change. For example, those include the intent of documents not “reasonably inferable” and corrections required, unknown conditions necessitating changes, the project owner’s requirements change, changes in code Read more…
Commitments are the contract agreements for which the actual cost for delivering the project’s scope of work is per the awarded contracts for the outsourced scope of work. For a project owner, commitments are the contract agreements with consultants for design, site supervision, cost management, project management, and other types Read more…
