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Project cost recording and reporting
\"Communication is a vital part of project management, and reports are one of the preferred vehicles for transmitting information to an intended internal or external audience. Reports are also part of the system of control and governance on projects, used to bring attention to issues and prompt action to improve project outcomes. There are countless ways of combining project information for consumption by stakeholders. This book discusses the purpose of project reports, and provides examples of the format, content, timing, and audience for various types. Using principles of stakeholders and risk management, it presents a rationale for communication plans, enabling appropriate reporting at the project, program, and portfolio level. The author also: presents tangible experience and suggestions for developing project reports, discusses project reports in context, as applicable to types of stakeholders and the project lifecycle, identifies sources and types of data required for adequate reporting, offers examples of report formats, graphics, and content, and reflects on typical challenges encountered with project reporting. It is essential reading for practitioners and students of project management, cost control and accountancy\"-- Provided by publisher.
Book
Systematic Methodology for Estimating the Social Dimension of Construction Projects—Assessing Health and Safety Risks Based on Project Budget Analysis
One of the major challenges in the construction sector involves achieving sustainability in all three of its dimensions: economic, social, and environmental. Economic and environmental assessments have already been unified, but social indicators are still excluded. In this line, it is important for a rapid introduction of sustainability indicators that the evaluations of its three dimensions are carried out simultaneously and without adding new training or a large workload to the project. In this work, it is proposed to use the definition of tasks in construction cost databases. These, due to their long tradition in the sector, have a clear definition of the contours of the problem and the inventory of resources. Therefore, based on this inventory that does not leave any unaccounted element, the evaluation of the social dimension is proposed through the use of the work units of the databases as an element of occupational risk assessment. The project cost and risk assessment are performed simultaneously in the construction of a social housing project in Andalusia, Spain. The costs of prevention measures represent 5% of the work units’ costs and reduce the risk indicator by 65%.
Journal Article
The Impact of Dynamic Risk Interdependencies on the Saudi Precast Concrete Industry
The precast concrete production process faces uncertainties and risks that reduce the efficiency of the Saudi precast concrete industry. Assessing the risk factors’ interdependence yields better results than considering individual analyses only. The previous precast risk studies did not consider the interdependencies among risk factors concerning different process stages. This paper aims to identify precast risk factors and prioritize their importance in Saudi Arabia. Using a dynamic Bayesian network, the assessment considers the interrelationships among the risk factors and different production stages. The risk factors were collected from previous studies, evaluated, and classified into the five construction stages by performing structured interviews with ten experts. The probabilities of the root risks and conditional probabilities of intermediate and leaf risks were assessed based on the ten experts. Then, a Monte Carlo simulation was utilized to provide the status of these probabilities, which were considered input data for the GeNIe program. The main results revealed that erection productivity is the highest risk, with a probability value of 0.87. In addition, the design schedule’s significance directly impacts production capacity, resulting in a probability value of 0.74. However, the site management risk is low, with a 0.32 probability value. This paper assists practitioners in optimizing construction schedules.
Journal Article
GOVERNMENT TRANSPARENCY AS UKRAINIAN TERRITORIAL COMMUNITIES’ ECONOMIC DEVELOPMENT FACTOR
The present paper substantiates the government transparency issue's importance as a fundamental principle of management and exercise of power on the local level. It must become a dominant one for Ukrainian urban territorial communities’ socio-economic development regulation under the condition of further steps implementation aimed at strengthening administrative and financial decentralization processes.We elucidate specific characteristics of government transparency measuring global practice, in particular, by applying a methodological approach to the city transparency index calculation, which has been conducted since the end of the 20th century by the NGO \"Transparency International\".We formulated and tested hypotheses about the relationship presence between government transparency level, income from the payment of personal income tax and local tax by the population, as well as the number of people who voted for public budget projects. We chose Ukrainian cities with different ranking positions by the government transparency level to conduct a measurement.The study proved that the local government transparency level is an important factor in Ukraine’s urban territorial communities’ socio and economic development. We defined that cities’ industrial specialization and their economic diversification level do not influence significantly the correlation density between government transparency level and local budgets' revenues. Additionally, most cities, regardless of their size, are characterized by a high correlation between indicators of transparency and the public activity of residents. Also, we observed a tendency for citizens’ activity to rise in the most investigated communities.The obtained results demonstrated the need to choose a longer time lag to test the proposed hypotheses. Nevertheless, the proven hypotheses made it possible to identify problems in ensuring the transparency of territorial communities’ authorities and to formulate proposals for improving public administration efficiency.
Journal Article
Absolute Essentials of Project Management
Contemporary organisations proliferate with projects. Managing projects, working with project managers and delivering project excellence have become fundamental skills in the world of business, resulting in an array of approaches, tools and techniques that can bewilder. This shortform text homes in on the absolute essential elements of the field.
With practical insights throughout, the book provides readers with a concise understanding of key concepts, techniques and outcomes such as ownership, execution, success, quality, budgets and risks. Features include abstracts and expert guides to further reading.
Authored by an experienced project and change management practitioner, consultant and educator, this unique resource will be essential reading for students of project management looking to excel in employment.
eBook
Financial Planning at Small Construction Enterprises at the Formation Stage
Planning is the most important function of management as it is the stage of planning when the main targets of the enterprise are determined and the assessment of the resources necessary for the targets implementation is made. The enterprise within its activities needs different types of resources, however the most important type of resources are financial resources as the availability of other types of resources as well as the opportunity to receive them always depends on the of financial opportunities. Planning of financial resources, determination of their optimum structure, the search of their sources is the most important task of financial management system and financial planning at the enterprise. Financial planning can be carried out with the use of various instruments, the most popular of which is the budgeting system. The advantage of budgeting is the absence of any strict established and fixed rules of planning and accounting as well as the opportunity to regulate forms and to determine indicators for the specific enterprise depending on its requirements. In this article the main features of the construction enterprises which influence the course and features of financial planning are considered. Also the requirements to the budgeting system imposed by the small construction enterprises at a stage of their formation to which, first of all, limitation of funds for planning and conducting the budget accounting belongs are considered in details. The integrated structure of budgets differing in the minimum set of the budget forms is offered as the decision. Some approximate forms of budgets are also developed and presented, however they can be adjusted depending on desire and requirements of the specific enterprise.
Journal Article
An Accurate Prediction Method for Budgets of Large Construction Project
Accurate budget estimation is an important prerequisite to guide the project. The traditional method using a linear estimation model can not accurately reflect the contribution of each component to the budget estimation of the entire system, leading to poor estimating results. This paper proposes an accurate project budget estimation model based on chaotic post-processing SVM-PCA (Support Vector Machine-principle Component Analysis). On basis of SVM model, the model filters redundant information in the system to ensure the input information data contribution rate. Then after output the data, chaotic post-processing method is adopted to smooth irregular characteristics of the data, in order to ensure the accuracy of the budget estimating model. Finally, five projects in a group of 10 categories elements are used to conduct estimating budget experiments. Experimental results show that the project budget estimation model based on chaotic post-processing SVM-PCA can accurately estimate the core consumes of each project, therefore has great value in engineering.
Journal Article
Cost comparison between GPS- and VHF-based telemetry: case study of feral cats Felis catus in New Zealand
Improvements in technology now make it possible to track animals of cat size using Global Positioning System (GPS)-telemetry. GPS technology has important advantages over traditional Very High Frequency (VHF)-radio tracking, but does incur higher per-tag costs. Budget is a limiting factor in experimental research; thus, an evaluation of the costs associated with both technologies according to the targets of a project should be undertaken before making any final decisions on the purchase of units and final experimental design. We simulated and compared the relative costs associated with the use of GPS and VHF telemetry applied to the study of the spatial ecology of feral cats (Felis catus) in the Tasman Valley (South Island, New Zealand) as a test case. We assessed different project durations and location acquisition rates. Cost analysis revealed that GPS-telemetry is the less expensive method to quantify the spatial ecology of feral cats when long-term (<1-year duration) projects and/or high acquisition rates (>1 location/day) are required.
Journal Article
Legislative oversight and budgeting : a world perspective
In most countries, parliament has the constitutional mandate to both oversee and hold government to account. In light of the increased focus on good governance, academics and legislative strengthening practitioners are re-examining parliament's oversight function with a view to increasing public financial accountability, curbing corruption, and contributing to poverty reduction. This volume brings together research from many different perspectives and many different legislative settings worldwide. As the country case studies in section III demonstrate, the accountability mechanisms or oversight tools available to the legislature vary based on constitutionally defined powers of the legislature, institutional arrangements between the branches of government, divisions of authority between national, regional, and local governments, the degree of legitimacy conferred on the legislature, and the resources available to it. The budget process provides critical opportunities. Section II of this volume is devoted to examining budget oversight from the formulation and approval of the budget, to implementation and the ex post examination of the public accounts. Special attention is also paid to mechanisms to assist parliaments such as Public Accounts Committees and independent parliamentary budget offices. This title will be of interest to parliamentarians and parliamentary staff, legislative strengthening practitioners, and students of legislative development.
eBook