Cost Management Procedures
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Cost Management Procedures   

The objective of cost management is to control the project cost so that the project is delivered within the developed budget, it includes all those processes necessary estimates, controls, and strategizing to ensure that the project is completed as planned. Cost management elements include but is not exclusive to: cost management system; cost management plan; WBS; cost estimating; budget development; risk analysis; requisitioning; surety; cash flow forecasting /projections, among other topics. The role of the Construction Manager with respect to cost management, and the use of various cost management tools are discussed for each phase of the project. Required Text: “Cost Management Procedures” By: CMAA

 

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