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How to Manage the Project Control System Delegation of Authority to Increase Accountability While Performing Project Management Processes
Regardless of the size, type, or location of a construction project, there are always authority approval levels set for each…
Creating the Project Directory in the Project Control System (PCS)
The project’s responsibility assignment matrix (RAM) provides details of the entities and individuals involved in delivering the project. In addition,…
Digitalizing the Issued for Construction (IFC) Contract Documents as per the FIDIC Contract Agreement for Capital Construction Projects
The Issued for Construction (IFC) drawings are sets of detailed design drawings prepared by the Design Consultant and are an…
Why Have a Real-Time Cost Ledger for Capital Construction Projects
By definition, a cost ledger is one of the books of account in a cost system to which entries are…
Evaluating and Shortlisting Capital Investment Opportunities Using Profit Investment Ratio (PIR) and Risk Exposure Measures
When it comes to evaluating and shortlisting capital investment opportunities, an organization needs to consider selecting and investing in them…
Why Real Estate Developers and Investors Should Have a Comprehensive Cost Breakdown Structure (CBS) that Maps the Complete Project Life Cycle Costs and Revenues for Their Real Estate Investment Projects
For real estate developers and investors including special purpose vehicles (SPV) created for Public-Private-Partnership (PPP) projects, the cost of delivering…
Can the Tedious Accruals Estimate Requirement be Eliminated by Implementing a Project Management Information System?
One of the major challenges that face organizations that are involved in capital construction projects delivery is determining the actual…
Visualizing, Analyzing, and Investigating Building Information Modeling (BIM) Enabled Connected Cost
Having a single version of the true financial performance reporting is one of the important if not the most important…
Visualizing, Analyzing and Investigating Building Information Modeling (BIM) Enabled Cost Estimates
The growing adoption of Building Information Modeling (BIM) has helped users take advantage of the different data types captured in…
Why Public Sector and Publicly Listed Entities Need to Implement Proactive Internal Audit for Their Capital Construction Projects
Many project owners and in particular those from the public sector or publicly listed companies have the requirement to conduct…
Why Most Updated Schedules for Capital Construction Projects Might Not Be That Perfect
One of the great challenges on capital construction projects is how frequently the project schedule needs to be updated. The…
Cost Breakdown Structure (CBS) for Capital Construction Project Revenues
For most of those involved in delivering capital construction projects, the cost breakdown structure (CBS) or cost accounts mainly focus…
