Cost Management

We measure and manage cost and productivity through the full life-cycle of projects

We look after your budget.

Cost Management Service

Cost management is about planning and controlling project budgets. Cost management starts before the project is being initiated and cost management methods (including estimating) are employed to come with preliminary cost of the construction project. In other words, cost engineering is used to estimate the budget of the project while the project is in the planning phase. When the project, programme or portfolio go live, then cost management is employed in order to adhere to the cost plan. Once the project is nearing its finish, thankfully to the implementation of cost management methodologies, the forecasted costs and the actual costs can be compared and benchmarked against each other. Implementation of cost management processes within a project or programme framework is necessary to ensure that the budget is correctly monitored and interventions can be taken if there is a realistic risk that the project will overrun the initial project cost and schedule estimates. In the past cost management was conducted mainly with pen and paper and was done by specially experience management accountants. At present cost management or cost engineering is done by qualified quantity surveyor or cost engineers.

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