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How to Have an Agile Solution to Monitor, Evaluate and Report the Status of Remaining Budget and Contract Management Processes on Capital Construction Projects
The last two articles on having an agile solution to monitor, evaluate and report the status of budget and contract...
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How to Have an Agile Solution to Monitor, Evaluate and Report the Status of Budget on Capital Construction Projects
For those responsible for monitoring, evaluating, and reporting the status of budget on capital construction projects, their top priority is...
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How Can Capital Project Owners Monitor, Evaluate and Report on Accrual Expenses and Revenues on Their Projects?
Accruals are a form of accounting practice that can help to provide a more accurate representation of the economic condition...
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Capturing and Reporting Construction Material Price Index
Organizations who are involved in delivering capital construction projects always need to know the current material price of key construction...
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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...
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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...
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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...
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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...
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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...
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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...
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Analyzing a Projects’ Financial Data Using Business Intelligence and Data Visualization Tools
One of the key reporting requirements by executive stakeholders is to visualize the source of reported financial data on capital...
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Creating the Perfect Project Budget Performance Report
Whether we like it or not, managing, monitoring, evaluating, and reporting the budget performance for capital construction projects takes priority...
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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...
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How Earned Value Management (EVM) for Interior Design Improves the Schedule and Cost Performance of Furniture, Fixtures and Equipment (FF&E) Contracts
For an Interior Design contractor using a Project Management Information System (PMIS) like PMWeb to manage the procurement of their...
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Transparent Process for Tracking Allocated Short-Term Funds for On-Going Capital Construction Projects that Need to be Slowed-Down
One of the key challenges facing Municipalities, Public Works Departments and other public sector entities who are involved in delivering...
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Using Common Sense to Attain the Great Value of Single Version of the Truth When it Comes to Reporting the Cost Status of Capital Projects Delivery
One of the key requirements for project owners when it comes to delivering capital projects is to have a single...
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Digitize AWP Process in EPC Projects: Cost Performance Indices for Construction Work Packages (CWP)
In addition to the many templates, presentations, flowcharts, checklists, among others that were developed by the Construction Owners Associate of...
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Capturing Supervision Consultant Overtime Charges for Supervising Contractor’s Activities in Construction Projects
One of the common items in interim payment applications for construction contracts is the deductions for the engineering consultant team...
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061 Getting Paid for Material Delivered and Stored on Site in Construction Projects by Using Material Inspection Request (MIR) Process
One of the elements of an interim payment on construction projects is the payment for the contractor’s procured material delivered,...
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Creating the Capital Project Integrated Cost Plan that Can Progressively Elaborated During the Project Life Cycle Phases
The Cost Plan is the outline of the estimated project cost for the required resources to complete all project activities....
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