CE
Chapter 17_Cost Control_Sayanti_Class Notes

Chapter 17_Cost Control_Sayanti_Class Notes - CE 222/CEM...

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CE 222/CEM 201 Life Cycle Engineering and Management of Constructed Facilities Cost Control Chapter 17
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Topic Context – Cost Control as a Management Tool Building Site Foundation Excavation Piling Pile Cap Forms Rebar Prepare Shop Drawings Cut & Fabricate Deliver Place or Set Concrete Backfilling Structural Frame WBS Schedule Estimate Expenditure Over budget or under budget?
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Learning Objectives n Define cost control n Explain the motivation for cost control n Explain the cost control system and its steps n Describe cost accounts for integrated project management n Apply the earned value method to determine project status
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Cost Control
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n A multistep process that integrates: n Development of Cost Control Plan (Initial plan): n Budget estimation (Cost estimation) n Direct costs n Indirect costs n Implementation of Cost Control Plan n Time-Schedule n Progress calculations What is Cost Control?
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Step 1: Chart of cost accounts Step 2: Project cost plan Step 3: Cost data collection Step 4: Project cost reporting Step 5: Cost engineering Steps of Cost Control
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