Cost management - cost control
Project budgeting plays a significant role in the successful implementation of a Project. The budget is of paramount importance to the Project’s success. Our firm role is to set from the beginning the cost that the design team will adhere to, so that it meets our Client’s expectations. From the early stages of the design, it is very important to have a proper cost management procedure established. Our role is to ensure that from an early stage of the project life cycle, the Client is advised for the various design options in collaboration with the rest of the design team ensuring that the optimum time frame/cost/quality is achieved. The elements of success could be achieved as below:
- Preliminary cost evaluation
- Continuous value engineering from inception to completion
- Advice on procurement route (Traditional Vs New Methods of Procurement: Bills of Quantities, Design and Specification, Design and Build, Cost Plus, Build Operate and Transfer, etc.)
- Procurement management: selective or open tendering procedures depending on the Client needs
- Preparation of Bills of Quantities (if applicable)
- Preparation of parametric modelling for estimating purposes
- Cost monitoring during construction stage
- Advising Client on the Projected Final Project Cost on interim basis
- Preparation and evaluation of Variation Orders
- Preparation of Final Account
- Claims Management and advice