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Construction Scheduling & Cost Control: Prof. Liaqat Ali Qureshi Uet Taxila
Construction Scheduling & Cost Control: Prof. Liaqat Ali Qureshi Uet Taxila
COST CONTROL
By
PROF. LIAQAT ALI QURESHI
UET TAXILA
Activity
course of a project. Or
An amount of work that can be identified so that
we know what it involves and can recognize,
when it starts and finishes.
Network Diagrams
Any
Arrow Diagrams
Activities
Activity Durations
Any time units may be allotted to activity durations like days, hours, weeks,
months, shifts, etc.
CPM Calculations
Critical Path
The
Operation
Dependence
Est. Dur.
(Days)
ENA
ESA
ENA
CONN
ENA
14
CONS
ESA, CONN
12
COMN
CONN
CIMS
CONS, COMN
RNB
COMN
RSB
RNB,COMS
18
PB
PB
TD
EB
TD, CONN,
CONS,
COMN
LBS
ICB
EB
RNB, RSB
Landscape
Node Diagrams
Activities
Bar Chart
Gives
COST MANAGEMENT
COST MANAGEMENT
Includes
1- Resource Planning
Involves determining what physical resources
(people, equipment, materials etc) and what
quantities of each should be used to perform
project activities.
1.
Expert Judgment
2.
Alternative identifications:
To adopt different approaches for
the same problem.
Resource Requirements:
Description of what types of resources
are required and in what quantities for
each element of the work break down
structure.
Cost Estimating
Developing
an approximation (estimates) of
the costs of the resources needed to
complete project activities.
Includes identifying and considering various
costing alternatives.
Cost
Pricing
Breakdown Structure
Resource Requirement
Resource Rates:
scheduled or non-scheduled
Activity Duration Estimates
Historical Information
Chart of Accounts:
Describes the coding structure used by the performing
organization to report financial information in its general
ledger
Estimating:
Estimating the cost of individual work
items, then summarizing or rolling up the
individual estimates to get a project title.
(Detailed Estimate)
Computerized Tools:
Use of computerized tools such as
project management software and
spreadsheets to assist with cost estimating.
Estimates
Supporting Details like Scope of work,
Calculation sheet, Assumptions made,
Possible range of results, etc.
Cost Management Plan describing how cost
variances will be managed.
Cost Budgeting
Cost
Estimates
Work Breakdown Structure
Project Schedule
Baseline
A time-phased budget that will be used to
measure and monitor cost performance
on the project. It is developed by
summing estimated costs by period and
is usually displayed in the form of an Scurve.
Cost Control
Cost Control is concerned with
(a) Influencing the factors which create
changes to the cost baseline to ensure that
changes are beneficial.
(b) Determining that the cost baseline has
changed
(c) Managing the actual changes when and
as they occur
Cost Control
Cost Control includes:
Monitoring cost performances to detect
variances from plan.
Ensuring that all appropriate changes are
recorded accurately in the cost baseline
Preventing incorrect, inappropriate, or
unauthorized changes from being included in the
cost baseline.
Informing appropriate stakeholders of authorized
changes.
Baseline
Performance Reports
Provide information about cost performance
such as which budgets have been met and
which have not. It also alerts the project team
to issues which may cause problems in the
future.
Requests
These may occur in many forms-oral or
written, direct or indirect, externally or
internally initiated, and legally mandated
or optional. These may require increasing
the budget or may allow decreasing it.
Planning
Perspective changes may require new or
revised cost estimates or analysis of
alternate approaches.
Computerized
Tools
Cost Estimates
Budget Updates
Corrective Action
Estimate at Completion
It is a forecast of total project costs based
on project performance.
Lessons Learned
THANK YOU