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CHAPTER 15 QUESTIONNAIRE 1) What is DHH System? * Is a pen-based personal computer (PC) running a windows operating system, which is used to collect multimedia information such as text, sound, video, and images. 2) How is cost control a management tool? * Early detection of actual or potential cost overruns in field construction activities is vital to management. It provides the opportunity to initiate remedial action and increases the chance of eliminating such over- runs or minimize their impact. * The determination of current project status, effectiveness of work progress, and preparation of progress payment request requires data generated by both project planning and cost control reporting system * Project cost control data are important not only to project management in decision making processes but also to the company’s estimating and planning departments because this data provides feedback inform- ation essential for effective estimates and bids on new projects 3) What is chart of cost accounts? * Chart of Cost Accounts: what will be the basis adopted for developing estimated project expenditures and how will this basis be related to the firm’s general accounts and accounting functions? What will be the level of detailed adopted to defining the project cost accounts and how will they interface with other financial accounts?\ 4) What is project cost plan? * Project Cost Plan: How will the cost accounts be utilized to allow comparisons between the project es- timate and cost plan with actual cost as recorded in the field? How will the project budget estimate be re- lated to the construction plan and schedule in the formation of a project cost control frame work? 5)
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This note was uploaded on 11/11/2009 for the course CEIE 463 taught by Professor Bhargava during the Spring '09 term at George Mason.

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