Please enable JavaScript.
Coggle requires JavaScript to display documents.
Project Financial Control - Coggle Diagram
Project Financial Control
Valuation Rules
Rule 3: Fair Rate
Rule 4: Dayworks
Rule 2: New Rate
Rule 1: Same Rate
Rule 5: Quantum Merit Balls
Cost Reporting
purpose are cost check, funding, report against budget
shows known cost, estimated cost & forecast cost
advises client on projected final account
format
cost summary
build ups
risk expenditure
basis & assumptions & exclusions
cash flow
recon
dashboard
executive summary
Agreement of Cost
change control
schedule 2 quotation
Change Control Procedure
change control: provides an assessment of the cost, quality and time implemented from a change
How does it work
CRF filled out
EA issues to team
Design, Prog, Cost
CRF presented to CHent
Approval = instruction
alteration/modifcation of the design, quality or quantity of the works
EW = items not in CCP
Undefined Provisional Sum
Key dates
when scope to be clarified
when prog & prelim fixed
manage process as risk
Cost Reporting
risk allowance
instructions
pc sum
EW's
prov sum
fluctuations
loss & expense
Dayworks:
payment to MC based on time taken & resources used
plan
materials
labor
Cost-report frequency
small project: weekly
depends on duration & size
monthly: industry cycles
Cost reporting - different procurement routes
CM/MC
less fixed
package specific
adjustment for CM/MC fee
D&B: design team variations