Cost Management

Cost Management cannot be achieved overnight and a large process is involved in it. The strict and disciplined actions based on proper communication with the stake holders help to achieve the goals.

I. Pre contract phase

  • Initial budgetary estimate
  • Preliminary cash flow
  • Identification of items for advance purchase
  • Value management (consultants)
  • Cost monitoring (against design progress)
  • Preliminary cost plan & Cash flow

II. Tendering & documentation phase

  • Value Engineering
  • Procurement strategy- packages, tendering & contracts
  • Preparation of standard & consistent BOQ
  • Preparation of Tender documentation
  • Tender review & analysis
  • Preparation of Letter of award & contracts

III. Post contract cost control & monitoring

  • Cost Control & Administration
  • Revised cash flow & financial advice based on tenders
  • Change management strategies
  • Progressive cost plan & monitoring of costs
  • Monthly project cost report
  • Intent & Check measurements/quantities, material reconciliation

IV. Post-contract financial management

  • Standard procedures for progress payments
  • Attend Meetings
  • Monthly valuations & progress payments
  • Preparation of Final Accounts
  • Financial & contractual close-out