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Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
The project controller is a key member of the project team and works directly with the project manager to help define the project's goals and objectives; create and maintain a project's budget and schedule, analyze progress reported against the work schedules; and recommend actions to improve progress. In order to ensure accurate documentation ...
Project control is that element of a project that keeps it on track, on time, and within budget. [41] Project control begins early in the project with planning and ends late in the project with post-implementation review, having a thorough involvement of each step in the process. Projects may be audited or reviewed while the project is in progress.
Elements such as controls, job management, defined and well managed processes, [4] [5] performance and integrity criteria, and identification of records; Competence, such as knowledge, skills, experience, and qualifications; Soft elements, such as personnel, integrity, confidence, organizational culture, motivation, team spirit, and quality ...
Continuous credential requirements are also called CCRs. To maintain the PMP qualification, 60 professional development units (PDUs) must be earned over a three-year cycle, from activities such as researching, authoring articles, speaking on project management-related topics, or being engaged full-time in project management. [15]
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
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