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Cost Based Approach to Project Management: Planning and Controlling Construction Project Costs [Pehme köide]

  • Formaat: Paperback / softback, 194 pages, kõrgus x laius: 234x156 mm, kaal: 453 g, 23 Tables, black and white; 28 Line drawings, black and white; 1 Halftones, black and white; 29 Illustrations, black and white
  • Ilmumisaeg: 19-Jul-2022
  • Kirjastus: Routledge
  • ISBN-10: 0367776456
  • ISBN-13: 9780367776459
Teised raamatud teemal:
Cost Based Approach to Project Management: Planning and Controlling Construction Project CostsSuurem pilt
  • Formaat: Paperback / softback, 194 pages, kõrgus x laius: 234x156 mm, kaal: 453 g, 23 Tables, black and white; 28 Line drawings, black and white; 1 Halftones, black and white; 29 Illustrations, black and white
  • Ilmumisaeg: 19-Jul-2022
  • Kirjastus: Routledge
  • ISBN-10: 0367776456
  • ISBN-13: 9780367776459
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780367776459.html
Märksõnad:
A Cost Based Approach to Project Management: Planning and Controlling Construction Project Costs introduces early-career architects, construction managers, civil engineers, and facility managers to the essentials of delivering projects on-time and at cost. Drawing on the authors decades of experience managing marquee building and infrastructure projects around the world, this primer offers busy professionals a crash course in budgeting, cost estimating, scheduling, and cost control. Chapters break down the details of cost elements, structuring project costs, and integrating budget with schedule, providing novice project managers with the key skills to plan and execute construction projects with confidence and precision.

Features:











Illustrates the principles of project management and the essentials of cost planning and control with easy-to-understand examples from the construction industry





Includes step-by-step details of project planning, cost estimating, and management processes





Offers clear, cost-based methods for defining scope, preparing bids, and planning for contingencies, as well as monitoring progress and determining when to take remedial action





Contains a user-friendly guide to project management acronyms and terminology





Provides sample construction schedules, budgets, and progress report forms

An ideal resource for self-study, on-the-job training, or courses in construction, architecture, or civil engineering project management, A Cost Based Approach to Project Management makes a worthy addition to the aspiring project managers reference shelf.
Abbreviations xiv
Preface xv
1 Denning a Project
1(16)
Introduction
1(1)
Project Definers
2(5)
Triple Constraints
2(1)
Scope
2(1)
Cost
3(1)
Duration
4(1)
Time and Money Complications
5(1)
Do the Triple Constraints Sufficiently Define a Project?
5(1)
Uniqueness
6(1)
One-Time Event
6(1)
Comprised of and Breakable to Tasks
7(1)
Task Interdependence
7(1)
Other Requirements and/or Expectations
7(1)
Can Value Be a Project Definer?
8(1)
What Happens If It Is Not a "Project"?
8(1)
Construction Projects
9(7)
Types of Construction Projects
9(1)
Public and Private Construction Projects
9(2)
Buildings: Residential and Nonresidential Building Projects
11(1)
Heavy and Civil Engineering Construction Projects
11(1)
Stakeholders and Key Participants
11(1)
Stakeholders' Differing Project Perspectives
12(1)
Basic Functions of the Stakeholders
12(1)
The Operator as the Fourth Stakeholder
13(1)
Project Delivery Systems
14(1)
Most Common Project Delivery Systems
14(1)
Construction Contract Pricing Options
15(1)
Unit Price Contracts
15(1)
Lump Sum Contracts
15(1)
Variations of Cost Plus Fee Contracts
16(1)
In Summary
16(1)
2 Management, Project Management, and Construction Projects
17(21)
Introduction
17(1)
Modern Management
17(5)
Why Study Management?
18(1)
Who Are Managers!
19(1)
Everybody Manages Something
19(1)
What Do Managers Do?
19(1)
Where Do Managers Work?
20(1)
Management Levels and Titles
20(1)
Accountability and Dependency
20(2)
Roots of Modem Management
22(4)
Managerial Roles
26(1)
Interpersonal Roles
26(1)
Informational Roles
26(1)
Decisional Roles
26(1)
Managerial Skills
26(2)
Conceptual Skills
27(1)
Interpersonal (Human) Skills
27(1)
Technical Skills
27(1)
Management Practices
28(1)
Managers Have to Make Decisions
28(2)
Common Decision-Making Mistakes
30(1)
Management Process
30(3)
Planning
30(2)
Organizing
32(1)
Leading
32(1)
Controlling
33(1)
Most Common Managerial Mistakes
33(1)
Project Management
33(2)
Construction Project Management
35(1)
Cost and Time Considerations at Initial Stages of a Construction Project
35(1)
In Summary
36(2)
3 Understanding Cost and Its Elements
38(17)
Introduction
38(1)
Cost Is More Than a Dollar Amount
38(2)
Elements of a Cost
40(2)
Price
42(1)
Unit Cost, Unit Price
42(1)
Assembly Unit Costs
43(1)
Cost Line Items
43(1)
Example for Unit Cost Conversions, Assembly Unit Cost, and Performance Assumptions
43(7)
Unit Cost Conversion for Materials
44(1)
Labor and M/E Unit Costs
44(1)
Labor and M/E Quantities
45(1)
Output Rate
46(1)
Resource (Labor or M/E)- Hours
47(1)
Output Rates, Resource-Hours and Activity Durations
47(3)
Managing a Cost Requires Knowing Both of Its Elements
50(1)
Tax, Price, and Cost
50(1)
Can the Price Be Less Than Its Cost?
51(1)
Defining Value
51(3)
Value, Quality, and Cost
52(1)
Types of Values
53(1)
Value Priorities of Stakeholders and Key Participants
53(1)
Value as a Measure of Project Success
54(1)
Considerations for Setting Value Goals for Projects
54(1)
In Summary
54(1)
4 Cost Types and Components
55(14)
Introduction
55(1)
Types of Costs
55(7)
Direct and Indirect Costs
55(2)
Fixed and Variable Costs
57(1)
Examples
57(1)
Fixed Direct Costs
57(1)
Fixed Indirect Costs
57(1)
Variable Direct Costs
58(1)
Variable Indirect Costs
58(1)
Identifying Cost Types Example
58(4)
Components of a Cost
62(4)
Material Component
62(1)
Labor Component
62(2)
Machinery, Equipment, and Other Direct Costs (M/E) Component
64(1)
Overhead (O/H) Component
64(2)
Depreciation Is Not a Cost
66(1)
What Do Cost Types and Components Indicate?
67(1)
In Summary
67(2)
5 Structuring Project Cost
69(16)
Introduction
69(1)
Project Planning Process
69(6)
Initiator of the Project Planning Process: Scope
71(1)
Detailing Scope by Breaking It Down to Tasks: Work Breakdown Structure (WBS)
72(1)
WBS Should Cover the Entire Scope
73(1)
Example: Dinner Party Project
73(2)
Compiling Detailed Task Information: Work Package Dictionary (WPD)
75(1)
Structured Project Cost: Project Cost Breakdown (PCB)
76(4)
PCB and Project Price Breakdown
80(1)
Different Perspectives for PCB
80(3)
WBS Examples for Different Stakeholders
83(1)
In Summary
83(2)
6 Cost Estimating
85(23)
Introduction
85(1)
Cost Estimating in the Construction Industry
85(1)
Types of Estimates and Estimate Accuracies
86(2)
Cost Estimating Process for Line Items
88(2)
Quantity Take-Offs (QTO)
89(1)
QTO for Materials
89(1)
Labor and M/E QTOs and Durations
89(1)
Estimate Preparation Duration and Accuracy
90(1)
Expert Opinion in Estimating Costs
91(1)
Step-by-Step Cost Estimating Process
91(2)
Project Delivery Systems, Contract Pricing, and Cost Estimating
93(1)
Technology and Reference Data for Estimating
94(1)
Updating WPD With Estimated Cost Data
95(1)
WPD and Project Resource Schedule (RBOQ)
95(2)
Example: Hotel Building Superstructure
97(8)
Quantity Take-Offs, BOQ, WPD Update, and Project Resource BOQ
97(1)
Step 1 Prepare (or Check if Available) Quantity Take-Offs
97(1)
Step 2 Update the WPD for This Activity
97(1)
Step 3 Assign Resources and Determine Durations
97(3)
Step 4 Calculate the Cost by Applying Unit Costs to the Quantities
100(1)
Step 5 Check Cost and Schedule Acceptability
100(3)
Option 1 Increasing Crew Size
103(1)
Option 2 Keeping the Initial Crew Size and Paying Overtime as Needed
104(1)
Decision
105(1)
Step 6 Finalize by Updating WPD
105(1)
Remarks on Cost and Duration Correlation for the Example
105(1)
Estimating Overhead(s)
105(2)
Task O/H
106(1)
Project O/H
106(1)
Head Office O/H
106(1)
Estimating the O/H
106(1)
In Summary
107(1)
7 Contingency as a Part of Cost
108(12)
Introduction
108(1)
Certainty, Uncertainty, Risk, and Contingency
108(3)
The Known and Unknown Risks
109(1)
The Known' Unknowns
109(1)
The Unknown-Unknowns
110(1)
Contingency at Several WBS Levels
111(1)
Both Cost Elements May Include Contingencies
111(1)
Typical Uses of Contingencies
112(1)
To Cover for Errors
112(1)
Systematic Errors
112(1)
Random Errors
112(1)
To Cover for Omissions
113(1)
Escalation
113(1)
Using a Provisional Sum to Avoid a Contingency
114(1)
Dealing With Unknown-Unknown Scope Changes
114(1)
Contingency and Profit
115(2)
Contingency and Change Orders
117(1)
Hidden Contingencies
117(1)
How Much Is Enough?
118(1)
Management Reserve and Project Manager
118(1)
In Summary
119(1)
8 Project Cost Budget
120(19)
Introduction
120(1)
Project and Operational Budgets
120(1)
One-Time Occurring and Not Repetitive
120(1)
Covers the Entire Project Duration
121(1)
Requires Unique and Project-Specific Resources
121(1)
Project Cost Budget Includes and Reveals All Required Resources
121(1)
Project Cost Budgets and Schedules Are Interrelated
121(1)
Project Budgets Include All Known-Unknowns
122(1)
Preparing and Reporting Cost Budgets
122(2)
Budgeting Activity Costs
122(1)
Budgeting Project Cost
123(1)
Budgeting for Project Resources
124(1)
Budget Formats
124(1)
Monitoring Cost Budgets
124(7)
Budget Format for Performance Monitoring
126(1)
Budget Format for Futuristic Projections
126(3)
Monitoring Project Resources and Output Rates
129(2)
Revising Budgets
131(4)
Budget--Schedule Integration: Expense Flows and Resource Schedules
135(2)
Preparing the Bid Price
137(1)
In Summary
138(1)
9 Controlling Cost
139(32)
Introduction
139(1)
Cost Accounting Versus Cost Control
140(2)
Major Differences
140(1)
Accrued Expense Versus Committed Cost
141(1)
Step-by-Step Cost Controlling Process
142(2)
Cost Control Is Not a Process of Reducing Cost
144(1)
Monitoring Progress
144(8)
What to Monitor
145(4)
Monitoring Frequency
149(1)
How to Monitor
149(1)
Reporting
150(1)
Daily Reports
150(1)
Project Progress Reports
151(1)
Processing Progress, Invoices, and Payroll
152(1)
Sorting and Distributing Accounting Cost Data
152(1)
Calculating/Verifying Actual Quantities
152(1)
Interpreting Monitored Performance
152(2)
Root Causes of Variances
154(6)
Common Reasons for Quantity Variance
155(1)
Take-Off Errors
155(1)
Scope Creep
155(1)
Excessive Waste
155(1)
Damages
156(1)
Adverse Conditions
156(1)
Changes
156(1)
Scope Changes
157(1)
Design Changes
157(1)
Changes in Regulations
157(1)
Differing/Unforeseen Site Conditions
158(1)
Failure of a Stakeholder
158(1)
Force Majeure
158(1)
Unit Cost Variance
158(1)
Errors, Inflation, Changes, Market, and Adverse Conditions
158(1)
Unit Cost Variance and Quantity Implications
159(1)
Labor and M/E Performance Variances
159(1)
Remedial Action Considerations
160(4)
Variance Accountability and Remedial Action
161(1)
Categorical Remedial Action Options
162(2)
Remedial Action and Delivery Method/Contract Pricing Complications
164(2)
What Is the Right Remedial Action?
166(1)
Implementing Remedial Actions
166(2)
Keeping Records
167(1)
Disputes Related to Variances
168(1)
Cost Control Process Schematics
168(2)
In Summary
170(1)
Appendixes
171(21)
Appendix A Cost Budget Forms for Hotel Project Stakeholders
172(13)
A.1 For Owners
173(4)
A.2 For Contractors
177(4)
A.3 For Hotel Operators
181(2)
A.4 Design WBS
183(2)
Appendix B Sample Work Package Dictionary Form
185(2)
Appendix C Typical Progress Report Forms
187(5)
C.1 Sample Daily Report
187(1)
C.2 Monthly Reports
188(4)
About the Author 192(1)
Index 193
Mehmet Nihat Haniolu is a civil engineer whose four-decade career portfolio includes heavy civil construction, residential development, mixed-use hospitality design/build projects, and claims and project management consulting. He has overseen major challenging development projects around the world, including the Hyatt Regency Bishkek, the Wynn Hotel and Resort Macau, and the High Point Terminal in Riyadh. As an instructor, he has shared his expertise with emerging project managers at City University of New York - Lehman College, Illinois Institute of Technology Chicago, and California State University at Sacramento.