Uncategorized Archive
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
What is Negative Float and How to Deal With It in Primavera P6?
November 9, 2016
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We all have learned a lot about calculating Total Float and Critical Path in a network diagram and have seen zero total floats for critical activities or positive floats for non-critical ones. In real projects, we will encounter with negative floats in a schedule network diagram. Have you ever wondered what causes the negative floats
The Critical Skill Each Cost Estimator Should Master in Cost Estimating
August 9, 2016
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Throughout my 30+ years in the construction industry, many of those in the cost estimating field, I met great estimators as well as estimators who lack the confidence to say: Yes, I calculated this cost, this is how I did it, and this is the benchmark data to prove it. My curiosity was always to
Project Planning Puts You in Control
August 9, 2016
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Every objective, intention, idea, project, task or whatever is expected in a future time (minutes, hours, days, months or years later) to be realized, starts with proper project planning, implementation, referencing-the-plan and taking corrective actions to realize the intended objective. Project Planning and Execution Project planning involves clarifying an objective (project, idea, concept etc.) by
The Power of Project Controls
August 9, 2016
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What is Project Controls? To define the subject, Project Control, I would like to start by defining the two words “project” and “control” in isolation and then try to make sense of them combined. Now, according to PMI’s PMBOK Guide 5th Edition, “project” is defined as a temporary endeavor undertaken to create a unique product,