Ad
related to: construction project progress report template word
Search results
Results from the WOW.Com Content Network
Project plan – is a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summary or detailed. [10]
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.
Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).
Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment. [ 8 ] Project stakeholders are those entities within or without an organization which sponsor a project or, have an interest or a gain upon a successful completion of ...
The construction project manager is sometimes referred to as an "Owner's Representative." The CM's role is to represent the interests of the Owner throughout the various phases of a project beginning as early as feasibility studies and conceptual planning of the project. Construction Managers help to inform good decision making on behalf of the ...
The WBS construction technique employing the 100% rule during WBS construction. The adjacent figure shows a work breakdown structure construction technique that demonstrates the 100% rule and the "progressive elaboration" technique. At WBS Level 1 it shows 100 units of work as the total scope of a project to design and build a custom bicycle.
In a progress Gantt chart, tasks are shaded in proportion to the degree of their completion: a task that is 60% complete would be 60% shaded, starting from the left. A vertical line is drawn at the time index when the progress Gantt chart is created, and this line can then be compared with shaded tasks.
The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received. The primary purpose ...
Ad
related to: construction project progress report template word