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Project Cost Management
Project quality management approach
Project quality management approach
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Recommended: Project Cost Management
INTRODUCTION
This paper outlines the specific project management services recommended for the following three stages of any development.
1. A new project that as yet has not commenced
2. A project underway though only the design has been completed
3. A project underway that is already within the construction phase
As the services within items 2. and 3. primarily form a subset of item 1, we will identify all of the services normally recommended for a complete project and then list those that are applicable to items 2. and 3.
We note that for most projects the management services provided would be tailored to suite the actual development and the needs of the developer. As this proposal is not related to any one specific project, we will identify as a guideline, the general range of services normally recommended.
1. PROJECT MANAGEMENT SERVICES - NEW PROJECT
For a new development CMR Project Management provide the complete project management service that will provide the overall management and guidance from project conception through to the completion of the defects liability period.
In CMR taking this role, much of the burden of dealing with and co-ordination of all the project parties will be removed. With our system of meetings and reporting, the Client will be completely informed and positioned to make the most important development decisions. CMR Project Management provide experienced construction professionals who act at all times in the best interests of the Client.
For a new project our project management services are broken into two overlapping stages. The first of these is the project initiation stage and the second is the project implementation stage. These two stages and are descr...
... middle of paper ...
...o suite the contracting strategy
- 1.1.5 If required propose a more comprehensive project cost management system
- 1.2.3 Prepare and or review the contract document if required
- 1.2.5 Project time, cost, quality and functional management
- 1.2.6 Administration and reporting
- 1.2.7 Post contract services
GENERAL FEE SCALE
As discussed, the range of fees for the services indicated within this proposal are extremely difficult to assess as each project requires a team of managers to be tailored to a structure which best suits that project.
As a very rough guide we again submit the following fee range though highlight that for specific projects the fee may be dramatically different:
For Project Values Less than RM20M 3.0-5.0%
For Project Values Less than RM500M 2.5-3.5%
For Project Values Greater than RM500M 2.0-2.5%
Lastly, the following three resources will be of great help in understanding this topic and executing the project requirements effectively.
The project management is a skill to apply the functions correctly which measures the outcome of the project, the more the skill the nice the outcome will be. This comes through experience and having a proper knowledge of some of the functions like
b.Identify appropriate project management tools and describe how they can be accessed. Provide an example of the tool and outline how it relates to your project.
...bine it into the price for equipment rentals and labor. The grand total of these figures is the cost of the job, if we price under that number, we lose money. So, careful judgment is used to decide how much profit a job should bring in. We then decide how much over the total cost we want to charge, we type up an official, detailed quote for the job. If the contractor is happy with the price, he will accept our bid and we now have the job. Now all that’s left to do in this stage is to get all the permits and draw up the necessary contracts.
CBRE South Asia Pvt. Ltd. , India(CBRE India), Through its Project Management Department constantly endeavours to become the best quality service provider in the field of Project Management Consultancy within the Framework of the Business policies , the Occupational Health Safety and Environment (OHSE) Policy and – its RISE values, By Providing Consultancy and Support to Clients in managing their Project from concept to Commissioning and closure of the project, along with the agreed Quality , Cost and
As a consultant, there are processes that vary in the number of steps, however for the purposes of this paper the following steps will be addressed; initial contact, decision to work together, preliminary analysis, formal proposal, project charter, in-depth analysis, implementation, delivery, and follow up (Frankl, 2014, p. 3).
Gray, C., Larson, E. (2008). Project Management: The managerial Process. New York, NY: The McGraw-Hill Companies Inc.
In every project there are always some universal characteristics that will be shared. They all have a comprehensible and established purpose and very distinct life durations. Overall, all projects are doing something that may possibly be new or yet a one time endeavor but have explicit requirements which include; time, price, and performan...
Project managers must take cost estimates seriously if they want to complete software projects within budget constraints. After developing a good resource requirements list, project managers and their software development teams must develop several estimates of the costs for these resources. There are several different tools and techniques available for accomplishing good cost estimation.
Ramroth, Jr., William G., 2006, Project Management for Design Professionals, . Chicago, Illinois : AEC Education.
Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].
To test the financial feasibility and plan acceptability, there must be information on the magnitude, and share of estimated project cost that are reimbursable. This information can be derived from cost allocation. Also where cost sharing is required in the multipurpose planning process cost allocation can be applied. Cost allocation also provides information necessary for allocating the real expenditures ensuring that the cost account are maintained in line with plan formulation and allocation principles during the subsequent c...
The vendors will outline how the work will be accomplished, who will perform the work, and vendors experience in providing the service. Additionally, the vendors will be required to submit work breakdown structures (WBSs) as the hierarchy structure below and work schedules to show their understanding of the work to be performed and their ability to meet the project schedule. There are constraints to be included in the RFP and communicated to all vendors in order to determine their ability to operate within these constraints. The project schedule is not flexible and the contractor must complete the service within the established project schedule of 1 year. The contractor must support the approved project scope statement.
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.