One of the major challenges that face organizations that are involved in capital construction projects delivery is determining the actual cost value at the end of each financial period. The challenge stems from the fact that most financial systems only recognize actual costs for work in place, delivered materials, and Read more…
For most of those involved in delivering capital construction projects, the cost breakdown structure (CBS) or cost accounts mainly focus on the cost for delivering the project’s real estate investment. The cost breakdown structure details all soft and hard costs required to deliver the project including the costs associated with Read more…
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…
