Cost management of work is done to ensure that work is Planned, Executed and Monitored from Time to time & completed in defined manner. Following steps are required to Monitor Cost Management:
• Prepare conceptual and Schematic Stage Budget as per discussion with Client requirement and feasibility report
• Prepare project budget in consultation with consultants/ clients.
• Prepare of Cash Flow statements based on work schedule.
• Review project expenditure at intervals and prepare expected cost variations with cost benefit analysis for client
• Preparation of Escalation as per Got indices and condition of Contract
• Preparation of Running Bill after making necessary recoveries as per Tender condition and Government norms
• Preparation of Extra items, Substituted item based on Market rates and agreement conditions
• Checking of bills of contractors /client supplies items including timely analysis and settlement of extra/deviated items and preparation Scope Change Orders.
Preparation of Final Bill including all variation, agreement clauses compliance