F-NC-174 (os ary (Elephant) Development Project - GOSP ‘FERROSTAAL| Insustesnigen Panto PROJECT MANAGEMENT PROCEDURE | 5292 21270 PROCEDURE NO. GS-MO-Q-PR-00-032-C2 COST CONTROL CONTENTS 1.0 PURPOSE 2 2.0 SCOPE. 0 3.0 DEFINITIONS AND ABBREVIATIONS 2 4.0 RESPONSIBILITIES. 2 5.0 PROCEDURE. " wo 6.0 REFERENCE DOCUMENTS... 9 7.0 DISTRIBUTION ‘B ATTACHMENT AO1 SAMPLE VALUATION REPORT - ONSHORE : 8 Pages ATTACHMENT A02_ SAMPLE VALUATION REPORT - OFFSHORE... smn 6 Pages ATTACHMENT A03_ SAMPLE COST SUMMARY REPORT a 1 Page ATTACHMENT A04 SAMPLE PROGRESS SUMMARY REPORT. 1 Page af Page 1 of 3 G2] 20.40.08 [F_Ranstein 90. Cassar V. mma Af corpora Clent comments C1 | 26.08.03 |F. Kunstein | 0. Odesanmi [Dr. Suck “Approved for Use 01 | 21.03.03 [F.Kunstein _|0. Odesanmi |Dr. Suckut |For Implementation Rev] ate Prepared Checked ‘Approved | Description of Revision OprORECTCOST CONTROL Revision C2, dated 20.10.2003 Inditrmanagen Procedure No. GS-MO-Q-PR-00-032 Page 2 of 3 Lou MAN FeRROSTAML| 10 2.0 3.0 34 40 5.0 84 52 PURPOSE, The purpose of this procedure is to state the mechanism and principles used for monitoring and reporting costs against the approved budget SCOPE ‘The primary document will be the valuation report. The valuation report will be broken down into 2 major operational areas, Offshore and Onshore. Each contract covers the following scope: 1. Project operational cost elements as specified in Appendix 1 - 5b, Section C of the contract. 2. Client support base costs as specified in Appendix 58, Section C of the contract. 3. Reimbursable elements as specified in Appendix 6, Section C of the contract. DEFINITIONS AND ABBREVIATIONS ABBREVIATIONS PCM Project Control Manager PKM Project Commercial Manager RESPONSIBILITIES ‘The preparation, checking and approval of the subject management procedure is described in GS-MO-Q-QA-00-001 section 7.0. PCM is responsible for the implementation of and compli- ance with the procedure, as well as cost controlling, including reporting all costs in terms of budget, forecast and actual. PROCEDURE ORIGINAL BUDGET The original budget, as defined in Section C, subsection 2, is derived from Appendix 7, Sec- tion C of the offshore and onshore contracts. The original budget consists of the lump sum prices and fees defined in Section C, subsections 3 and 4. The budget is then subdivided into ‘discrete operational cost elements as per contract breakdown. Costs relating to monthly lump sum fees are not included in the original budget as they deemed reimbursable and project execution dependent, Reimbursable amounts (defined in Section C, subsections 6, 8 and 10) ‘are determined during the execution of the project. All cost elements will form the basis of the final budget. The Original budget will be entered into the project schedule to facilitate project cost control. The schedule will then generate a monthly cost valuation based on the price breakdown specified in Appendix 1 to 5, Section C of the contract. This will exclude the monthly lump sum amounts specified in Appendix 5B, Section C. FORECAST COSTS ‘apasecrProcedure No. GS-MO-Q-PR-00-032 Page 3 of 3 COST CONTROL MAN Revision C2, dated 20.10.2003 omer 53 54 7.0 Forecast costs will be determined by the budget cost values of activities in the schedule. The ‘schedule progressed according to the contractual requirement of progress reporting will be the source of forecasting costs from the pertinent cut off date. As such, forecast costs are de- rived from the monthly aggregation of remaining cost from the progress cut off date to the end of the project. Costs derived from the period preceding the progress cut of date will not constitute a part of the forecast costs compilation. ACTUAL COSTS. ‘Actual costs will be derived from the progress measurement system. Progress will form the basis for determining the actual cost which in turn will be presented in the valuation report format (Onshore and Offshore) for payment. The section C of the contract provides a break- down of the Costs into discrete cost elements which will correlate to Physical progress. ADDITIONAL DELIVERABLES ‘As well as the valuation report, the following additional deliverables are required! + Project review summary which will comprise of the summarised cost breakdown and progress reports. In addition, supporting documentation regarding progress ‘measurement will be supplied at Client's discretion when required. Cash flow reports Offshore and onshore invoices issued prior to approval of the Valuation reports, REFERENCE DOCUMENTS MGO-P-VA-103 Commercial Project Management DISTRIBUTION Originals (signed paper copies) of the procedure will be kept at DCC in Geisenheim Availabilty to project members as follows: ‘+ Geisenheim : Electronic files under H.\ProjectiLasmo_gosp\Quality.pqm\Procedures ‘© Office Tripoli : Issue of controlled copy documents ‘+ Site Office : Issue of controlled copy documents to Site DCC. apoeerlezen Attachment A01 Page 1 of 8 Procedure No. GS-MO-Q-PR-00-032-C2 to ou eoz0z0 0 rocco a _ es eg a a ees * ozz1z 20 0ZS "ON OF Jae TOYLNOD LSOD dS09 - 90lo4g uoudojeneg (ueyde!3) YLL-ON'AAttachment A01 Page 2 of 8 Procedure No. GS-MO-Q-PR-00-032-C2 lozoxto 10 ey e020z0 ea 4 ioe 3 NMOOWVSUS ROUITWA TFINOW 02242 20 0zs ‘ON er 1 ‘TOYLNOD LSOD seieoeapt Nas dS09 - 190[o1g juoudojansg (ueydera) VLL-ON-SAttachment A01 Page 3 of 8 Procedure No. GS-MO-Q-PR-00-032-C2 borzooxho 10 ey c020z0 ea ‘OYLNOD LSOD LO-OLO/PLL-4 dS09 - }90[o1d jueuidojaneg (Gueyde|3) vLL-ON-dAttachment AO1 Page 4 of 8 Procedure No. GS-MO-Q-PR-00-032-C2 lowe 01242 20 Ozs ON GOP 14H ‘TONLNOD LSOD bo-ob/rLi-d FON eNO. 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