A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
This chapter reviews the estimating process and its contribution to project control. Of equal importance to the integrated control process is the project budget. Since few projects, if any, have unlimited financial resources, tracking costs are an essential part of determining project status. The estimate is deconstructed into a cost breakdown structure (CBS) to arrive at the as‐planned budget for entire categories of work as well as detailed tasks. The level of detail in the budget is directly related to the level of project control necessary to manage the project. CSI MasterFormat, used for the WBS in the scheduling process, is often employed to arrive at the CBS. This provides continuity across both cost and schedule that provides for more accurate and timely information by which better decisions can be made.
This chapter reviews the estimating process and its contribution to project control. Of equal importance to the integrated control process is the project budget. Since few projects, if any, have unlimited financial resources, tracking costs are an essential part of determining project status. The estimate is deconstructed into a cost breakdown structure (CBS) to arrive at the as‐planned budget for entire categories of work as well as detailed tasks. The level of detail in the budget is directly related to the level of project control necessary to manage the project. CSI MasterFormat, used for the WBS in the scheduling process, is often employed to arrive at the CBS. This provides continuity across both cost and schedule that provides for more accurate and timely information by which better decisions can be made.
The Budget
Del Pico, Wayne J. (author)
Project Control ; 75-92
2013-10-04
18 pages
Article/Chapter (Book)
Electronic Resource
English
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