Uncategorized Archive
What is Contingency Reserve in a Cost Estimate?
April 10, 2017
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Summary: Have you ever reviewed a Cost Estimate of a project? Have you ever wondered what “Contingency” is in a Cost Estimate? Do you know why a contingency reserve/ fund is allocated to a cost estimate? Cost contingency is a reserved fund that is added to a base cost estimate to account for cost uncertainty.
Essential Tools To Master in Project Controls
April 3, 2017
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Summary: There are plenty of tools available today for Project Controllers to help them better manage and control projects. As technology evolves, more tools become available for use. This can become overwhelming as to what tool to choose from for controlling projects. Sometimes, finding and selecting the right tool is a project of its own
Certifications in Cost Estimating
March 20, 2017
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Summary: Are you interested to know what internationally recognized certifications are available in Cost Estimating? There are several Cost Estimating associations that provide a variety of Cost Estimating certifications: ICEAA’s Professional Cost Estimator/ Analyst (PCEA®) AACE’s Certified Estimating Professional (CEP) ASPE’s Certified Professional Estimator (CPE) ICEAA’s Certified Cost Estimator/ Analyst (CCEA®) Watch this video to
(PDF) Risk Ranking for Tunnelling Construction Projects in Malaysia – ResearchGate
March 8, 2017
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(PDF) Risk Ranking for Tunnelling Construction Projects in Malaysia ResearchGate
How to Succeed in Cost Estimating? An interview with Ramani Sundaram
March 1, 2017
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How to succeed in Cost Estimating?! This is a question that can be best answered by a senior cost estimator. I conducted an interview with Ramani Sundaram, a senior cost estimator with 25+ years experience, to share his experience as a cost estimator and provide his insights on Cost Estimating. Before I go to the
How Cost Escalation is measured in a Cost Estimate?
February 26, 2017
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According to Wikipedia.org, “Changes in the cost or price of specific goods or services in a given economy over a period of time is defined as “Cost Escalation” [1]. Very often, the common question from an owner to an estimator is “Is your estimate in current dollars or escalated dollars?” Any cost estimate is a
Top 5 Skills of a Cost Controller
February 14, 2017
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Summary: Have you ever been in a project that finished over budget, and nobody could explain exactly why? Have you ever seen a cost report in a project that only showed the budget versus the expenditures? Have you ever published, or seen a cost report, and had no clue what the cost metrics meant? If
What is the Difference Between Project Controls & Project Management?
February 13, 2017
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Summary: I get this question a lot, “What is the Difference Between Project Controls and Project Management?”. I believe there are 3 key differences between Project Management and Project Controls: 1- Project Control is a subset of Project Management with the primary focus of managing the project’s cost and schedule. 2- Project Manager is directing the
How to Become a Certified Cost Controller?
February 10, 2017
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Summary: Are you interested to know how you can become a Certified Cost Controller? Do you know what internationally recognized certifications are available in Cost Management? AACE International provides a variety of certifications in Cost Management including: Certified Cost Technician (CCT) Certified Cost Professional (CCP) Earned Value Professional (EVP) Watch this video to learn the
How Does a Project Controller Control a Project?
February 4, 2017
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Summary: Have you ever wondered how a Project Controller controls a project? Do you know what the role of a Project Controller is in a project; from its initiation to completion? An effective Project Controls starts early in the project when the project is initiated and continues throughout the project life cycle until the project