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Structured data analysis (SDA) is a method for analysing the flow of information within an organization using data flow diagrams.It was originally developed by IBM for systems analysis in electronic data processing, although it has now been adapted for use to describe the flow of information in any kind of project or organization, particularly in the construction industry where the nodes could ...
Project managers can report "first fix complete" or "second fix 50% done" and others can understand. Some construction companies specialise in first fix work or second fix work, but most do both. In North America, terms such as roughing in and finishing or rough-in and finish work are often heard, referring to similar concepts.
Elemental cost planning is a system of Cost planning and Cost control, typically for buildings, which enables the cost of a scheme to be monitored during design development. 1951 saw the publication of the Ministry of Education Building Bulletin No 4 which essentially introduced the concept of elemental cost planning to the UK construction ...
A cost estimate is often used to establish a budget as the cost constraint for a project or operation. In project management, project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering ...
The old system's data flow diagrams can be drawn up and compared with the new system's data flow diagrams to draw comparisons to implement a more efficient system. Data flow diagrams can be used to provide the end user with a physical idea of where the data they input ultimately has an effect upon the structure of the whole system from order to ...
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]
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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 ...