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Should ChatGPT Become One of The Must Applications to be Used on Capital Construction Projects?
The ChatGPT application (chat.openai.com/chat) is an open artificial intelligence platform that has been used by many in trying to get...
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Estimating the Finance and Overdraft Cost for Construction Project
One of the indirect costs that contractors need to estimate when submitting a bid for a construction project is the...
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Managing, Monitoring, Evaluating and Reporting a Project Contingency in Capital Projects
Risk buffering (or risk hedging) is the creation of some reserve or buffer that can absorb the effects of the...
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Setting the Project Control System (PCS) Quality Management Module: Technical Submittals
The Quality Management module is another critical project control system (PCS) module. The module addresses the quality assurance and quality...
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Setting the Project Control System (PCS) Cost Management Module: Cost Management Reports
Although each project control system (PCS) implementation has its own customized and branded cost management output forms, reports, and dashboards,...
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Setting the Project Control System (PCS) Cost Management Module: Connected Cost
All the cost data generated from the various PMWeb cost management processes is automatically captured in a single repository known...
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Setting the Project Control System (PCS) Cost Management Module: Actual Payment Made and Received Management
One of the key challenges that face organizations involved in delivering construction projects is getting paid for completed and approved...
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Setting the Project Control System (PCS) Cost Management Module: Funding Management
Whether the project control system (PCS) is being managed by the project owner or contractor, they both need to manage,...
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Setting the Project Control System (PCS) Cost Management Module: Revenue Management
Revenue management is mainly applicable to the project control system (PCS) that is being managed from the contractor’s perspective. The...
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Setting the Project Control System (PCS) Cost Management Module: Change Management
There is a very slim chance that a construction project is completed without encountering changes. There are many events that...
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Setting the Project Control System (PCS) Cost Management Module: Managing the Project Commitments
Commitments are the contract agreements for which the actual cost for delivering the project’s scope of work is per the...
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Setting the Project Control System (PCS) Cost Management Module: Managing the Project Budget
By definition, a project budget is the total estimated cost of completing each project activity over each phase of a...
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Blog Contract Management Cost Management Multilingual Multi-currency Plans Portfolio Resource Management Schedules
Setting the Project Control System (PCS) Cost Management Module: Definite Cost Estimate
The third Project Control System (PCS) module needed for construction projects is the cost management module. In doing so, it...
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Blog Building Information Models (BIM) Cost Management Forms Portfolio Project Management Office (PMO)
Project Control System (PCS) on Building Information Modeling (BIM) Enabled Projects
For projects where Building Information Modeling (BIM) is used by the contractor for developing the shop drawings (LOD 400) based...
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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...
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How Can Project Owners Accurately Estimate, Monitor, Evaluate and Report Their Organization’s Allocated Costs to the Project Capital Construction Projects Delivery?
Project owners who are actively involved in delivering their capital construction projects portfolio understand that their own organization costs allocated...
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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...
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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...
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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...
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Work and Cost Breakdown Structures Based Monitoring, Evaluating and Reporting of Cost Performance on Capital Construction Projects
Project owners involved in delivering capital construction projects always have the requirement to monitor, evaluate and report project cost performance...
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