Sunday, December 5, 2010

Cost Control Of A Project

Cost control is an important issue in construction project management. It is widely practiced by contractors in Malaysia and needs to carry out through out the life of a project.

The main problem faced by the class F contractor are shortages of material,labor or mechanical plant, difficulty in collection of cost data, ever-changing environment of construction work, qualified expertise, duration of the project and additional costs to carry out the cost control system.

The cost control is a process that should be continued through the construction period to ensure that the cost of the building is kept within the agreed cost limits.

The cost control can be divided into two major areas; the control of cost during design stages and the control of cost by the contractors once the construction of project has started. According to Nunnally (1998), cost control of a project involves the measuring and collecting the cost record of a project and the work progress. It also involves the comparison of actual progress with the planning. The main objective of cost control of a project is to gain the maximum profit within the designated period and satisfactory quality of work.

p/s cost control it is very important, how to manage your project? just do it......

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