Managing Budget Cuts Due to the COVID-19 Pandemic
The disruption caused by the Covid-19 pandemic on capital construction projects will continue to be noticed in 2021 and years…
What Progress Information is Critical to Report on During the Design Phase?
Like the construction phase, project owners of capital construction projects need to be aware of how their projects are performing…
Manage Indirect Costs Using the Earned Value Management Method
Each capital construction project consists of direct and indirect costs. Direct Costs are the costs that are proportional to the…
Demystifying the Truth About Connected Cost for Financial Performance Reporting
Having a single-version-of-the-truth financial performance reporting is one of the important, if not the most important, requirements when it comes…
Ensuring the Timely Report Distribution to Project Stakeholders
One of the key requirements for any project, including capital construction projects, is the time distribution of performance and status…
How to Use Procurement to Enable Agile Digital Transformation of Procurement and Contract Management in Organizations
Although a Project Management Information System (PMIS) like PMWeb mainly manages the delivery of capital construction projects, nevertheless, organizations can…
Create and Maintain a Cost Database Using the Unit Price Rates of their Awarded Lump Sum Contracts
Unlike contractors who need to have a detailed estimate for the cost of labor and equipment resources, material, subcontract items…
Why Project Owners Should Disallow Unbalanced Bids on Their Capital Construction Projects
Unbalanced bidding is a serious problem for capital project owners because it may increase the risk of construction cost overrun…
Prevent Material Waste on Construction Sites
One of the major dilemmas that face contractors on construction sites is how to reduce material waste such as steel…
Will Financial Regulators Enforce Contractors to Use Technology When It Comes to Reporting Their Financial Performance on Construction Projects?
For the majority of contractors, the technology that relates to project management and tracking financial performance is considered an expense…
Using Project Management Information System (PMIS) for a Real-Time Single Version of the Truth Cost Value Reconciliation (CVR) Report
Cost Value Reconciliations (CVR) are carried out in order to monitor, evaluate and report expenditures against budgets to ensure that…
The Great Benefits of e-Procurement in Engineering and Construction Projects During the COVID-19 Pandemic Era and Beyond
One of the common practices in capital projects is outsourcing part of the project’s scope of work to third-party entities…
