Cost monitoring - Revision history

Designing Buildings: Redirected page to Cost control in building design and construction

2017-06-26T14:41:00Z

Redirected page to Cost control in building design and construction

← Older revision		Revision as of 14:41, 26 June 2017
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−	Cost ~~monitoring is an important component of construction project management and involves the measurement of performance at certain time intervals in order to be effectively controlled.~~	+	#redirect:[[Cost_control_in_building_design_and_construction\|Cost control in building design and construction]]
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−	~~By monitoring the costs of a project, an organisation is able to take further action if required to~~ control ~~the costs before they cause undue problems.~~	+
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−	~~For more information, see Cost control.~~	+
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−	The traditional method of cost monitoring is based on simple parameters using two data sources at a given time, i.e. the budget and the actual spending. This comparison between planned and actual spending is strictly that, and does not use any current performance trend to forecast future performance.	+
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−	~~This limitation~~ in ~~cost monitoring is the reason why earned value analysis is often used to assess project progress~~ and ~~provide forecasts that enable cash flows to be controlled effectively.~~	+
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−	~~For more information, see Earned value for~~ construction ~~contracts.~~	+
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−	~~= Find out more =~~	+
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−	~~=== Related articles on Designing Buildings Wiki ===~~	+
−		+
−	* Benchmarking.	+
−	* Budget.	+
−	* Change control.	+
−	* Commercial management.	+
−	* Cost control.	+
−	* Cost performance index (CPI).	+
−	* Cost plan.	+
−	* Earned value.	+
−	* Initial cost appraisals.	+
−	* Whole-life costs.	+

	[[Category:Construction_management]] [[Category:Cost_/_business_planning]]		[[Category:Construction_management]] [[Category:Cost_/_business_planning]]

Editor at 11:09, 13 June 2017

2017-06-13T11:09:17Z

← Older revision		Revision as of 11:09, 13 June 2017
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	For more information, see Cost control.		For more information, see Cost control.

−	The traditional method of cost monitoring is based on simple parameters using two data sources at a given time, i.e. the budget and the actual spending. This comparison between planned and actual spending is ~~exactly~~ that, and does not use any current performance trend to forecast future performance.	+	The traditional method of cost monitoring is based on simple parameters using two data sources at a given time, i.e. the budget and the actual spending. This comparison between planned and actual spending is strictly that, and does not use any current performance trend to forecast future performance.

	This limitation in cost monitoring is the reason why earned value analysis is often used to assess project progress and provide forecasts that enable cash flows to be controlled effectively.		This limitation in cost monitoring is the reason why earned value analysis is often used to assess project progress and provide forecasts that enable cash flows to be controlled effectively.

Editor: Created page with "Cost monitoring is an important component of construction project management and involves the measurement of performance at certain time intervals in order to be effectively cont..."

2017-06-13T11:08:49Z

Created page with "Cost monitoring is an important component of construction project management and involves the measurement of performance at certain time intervals in order to be effectively cont..."

New page

Cost monitoring is an important component of construction project management and involves the measurement of performance at certain time intervals in order to be effectively controlled.

By monitoring the costs of a project, an organisation is able to take further action if required to control the costs before they cause undue problems.

For more information, see Cost control.

The traditional method of cost monitoring is based on simple parameters using two data sources at a given time, i.e. the budget and the actual spending. This comparison between planned and actual spending is exactly that, and does not use any current performance trend to forecast future performance.

This limitation in cost monitoring is the reason why earned value analysis is often used to assess project progress and provide forecasts that enable cash flows to be controlled effectively.

For more information, see Earned value for construction contracts.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Benchmarking.
* Budget.
* Change control.
* Commercial management.
* Cost control.
* Cost performance index (CPI).
* Cost plan.
* Earned value.
* Initial cost appraisals.
* Whole-life costs.

[[Category:Construction_management]] [[Category:Cost_/_business_planning]]