Cost Control & Contract Change Management
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Our team’s experience has shown that project controls require an integrated approach. We have a deep understanding of how cost is one of several key aspects of project management. Project coding structures must be defined to meet the needs of scope identification and decomposition, planning and scheduling, estimating and cost control, and identifying and quantifying risk.
Without cost and schedule alignment there can be no cost certainty or an understanding of the impacts of scope and third-party influences and changes.
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The procurement strategy of the project must also be taken into consideration and scope must be packaged accordingly to develop control budgets, while being flexible enough to support changes in project delivery and manage scope and contract changes so that commitments are captured, incurred, and forecasted against the appropriate budgets.
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In addition to applying project coding structures and higher-level controls standards and frameworks such as Highway Costing System (HICO), Coso and AACE cost estimation, our team would apply other specific project standards/guidelines, relevant provincial standards, as well as the relevant client guidelines.
They factor in material, labor, equipment, and other overhead costs to create detailed cost estimates, supporting budgeting and decision-making processes.
