Cost Management

 

Each client is interested in achieving the lowest possible overall project cost that is consistent with its investment objectives. After the planning phase, cost supervision comprises of two major efforts: a competitive bidding process for selecting a general contractor and continuously implementation of a project cost control system to oversee costs from change orders and contractual claims.

Cost management in the execution phase is essential to finalize the project in the assumed budget according time schedule and scope (agreed technical specifications and design). Dealing with claims, rejecting them or at least diminishing the impact in terms of additional cost and time extensions, by establishing the root cause and true value have become key factors for final outcome of the project.