Effective cost control ensures that a project’s budget is on track and the project is progressing and will be completed according to its planned schedule and cost. For a contractor or a contracting organization, cost control is the pivot of the organization’s success, and the amount of profits and benefits to be realized from a project is directly related to the organization’s cost control approach. It dictates the profit and loss on a project and companywide button line. For successful contracting organization, cost control starts before bidding. The company cost control process is well established and documented as part of the organization’s process assets. They understand that without effective cost control, they have no visibility on any project.
In this training, participants will learn all aspects of project cost control including estimating, budgeting and cost tracking and management. Participants will learn how to establish project budgets and perform cost management activities such as application for payment, cost forecasting, performance management, and resource management. The course is designed for project, and construction managers, or project controls professionals who are looking to deepen their understanding of project cost controls. Whether you are working in a contracting organization or in an owner’s organization, this course will provide you with practical skills required to estimate, manage, and control costs on your project.
Prerequisite
Have understanding of construction management, processes and methodologies.
Technical Requirements
None