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Cost Controls

Cost Controls

Predicting Project Budgets and Expenses

Accuracy and attention to detail are essential for managing costs of complex construction projects. It begins with developing the cost structure and a detailed estimate, along with a budget that predicts cost escalation and trends related to materials, labor and market conditions. As the project progresses, actual expenditures are monitored, and new estimates and changes are incorporated. Earned value analysis and reporting provide the necessary information for project managers to know the status of work performed (earned) and work remaining.

Cost Specialties

Estimating for the entire lifecycle of the project
Predict escalation and cost trends
Analyze bids
Develop budgets at both program and project level
Cost engineering
Earned Value Management
Tracking, reporting and forecasting-to-complete
Variance analysis
Benchmarking

The fact that one failed project can potentially wipe out an entire year’s profit helps put the value of Project Controls into perspective.

INNOVATION

Cost Forecasting

CM Solutions uses the Work Breakdown Structure (WBS) to tie the accounting structure, schedule and cost elements together. This results in minimal variances between actual and forecast costs on a monthly basis, and projects total costs with an outstanding level of accuracy, to +/- 5% of forecast.