Cost Management
Services
Estimate & Budget
The importance of accurate cost estimates during the early stages of construction projects has been widely recognized for many years. Early project cost estimates often become the basis for project funding, choosing the appropriate project delivery system, tender evaluation, bidding decision and many others. Therefore, any lack of Cost Management implementation is likely to affect the project's cost and, result in unnecessary risks
Project Cost Control
Once the estimate and budget are developed during the tender phase, the execution cost needs to be managed to determine and control the actual spending against the budget and to forecast the costs at completion. Cost control is a repetitive process, where the number of labours and their productivity are subjective and affected by many reasons, as well as the equipment. The material quantities are subject to updating during the execution phase as the design development progresses. Last but not least, the supplier and subcontractor will have agreements, resulting in payment schemes that need to be handled by reviewing their quantities or other methods.
Variation/Change Order
Variation means any change to the scope of work that has been agreed upon within the project's contract documents. Such variation may be initiated by one party to another party (from the employer to the contractor or the contractor to the subcontractor), or one party discover a potential change(s) that needs another party to agree upon. Accordingly, the requested party shall quantify the variation to determine the expected cost, which will allow another party to determine the validity and agree consequently.
What We Offer
Bill of Quantity (BoQ)
Itemized projects in materials, equipment, and labour in a standard formats based on the available information
Quantity Take-off (QTO)
Detailed measurement of the BOQ items to complete a project using reputable standard methods and special software.
Cost Estimating
Estimate the cost of the BOQ items, indirect support, overhead, and profit based on the best available market price.
Gap Analysis
Scrutinize the project's documents to determine any items missed and/or may constitute risks that impact the contingency.