Lesson series

Construction Cost Control - Online 14 Hours (14 CPD)

This online course reviews the theory and practice of project control of construction projects. The course focuses on cost and schedule monitoring and control techniques to minimize cost overruns and schedule slippages, while bringing together many of the topics, tools, techniques and strategies of other related disciplines in the construction ecosystem. You will explore from a project management perspective the key processes of the cost control cycle, including budget baselines, schedule baselines, progress measurement, variance calculations, earned value, corrective action and LEAN methodology to add value and reduce waste.
- Introduction in construction cost control
- Describe the basic definition and qualities of cost control in construction, also explain the documentation of controlling cost
- Understand the use and application of cost coding in project management, as well as how cost and schedule baseline are established for cost control in construction
- Understand the importance of progress measurement for cost monitoring and control Identify and determine the different methods of measurement for project progress
- Review contract document, as well as prepare credible and consistent documentation regarding change orders
- Explain the importance of cash flow in construction industry and the consequences of negative cash flow
- Explain Earned Value Analysis (EVA) and the fundamental basis for EVA metrics
- Describe the basic principle of Earned Value Analysis and apply Earned Value Analysis to a building case
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