Pontus International is highly specialized in providing Project control services during all project phases. We decline these activities in the following tasks:
Scheduling (or time management) is one of the key functions of managing a project. A failure to achieve time objectives normally adversely affects the project costs, and the client’s anticipated benefits/ revenues from the project.
They are usually four phases in scheduling a project:
• planning, which involves establishing the logical sequence of activities, including restraints and interfaces;
• scheduling, which involves the process of adding durations and resources (if appropriate) to activities and adjusting the timing for optimum results;
• monitoring, which involves the process of regularly evaluating progress against the approved schedule;
• control, which covers the positive action necessary to correct schedule variance in order to achieve the schedule objectives
In establishing the schedule, Oneplan would select the most appropriate scheduling technique in relation to the size, complexity and risk of the project and would identify key dates. If appropriate, different levels of schedule detail could be established for different end users.
Estimating and budgeting
Budgeting is the process of establishing for each project gate, an estimated project cost (budget) that is acceptable to the client for a specific project scope of work to be performed in a specified time and quality framework.
The estimate process start with the definition of the cost breakdown structure, and continue during all the design phase in driving the technical disciplines to identify the scope in accordance to the Cost breakdown, the bid package breakdown code and code of accounts.
Scope uncertainties are included considering risk analysis process and cost risk evaluation using the most effective tools for Montecarlo risk analysis.
In finalizing an estimate include escalation, contingency, interest during construction and other financing costs. The amounts for these items would be clearly indicated together with the basis on which they were calculated.
If and when the client approves this initial cost estimate, this then becomes the approved project budget from which all subsequent costs and forecasts can be monitored and controlled. As necessary, estimates of
cost and cash flow would be prepared for subsequent monitoring and for assisting in arranging project financing.
Cost control and accounting
Cost control is the process of reporting, monitoring, analyzing and controlling commitments and resulting expenditures (costs) together with the initiation of the necessary present and future action to achieve the budget objectives on a project.
In order for cost control to be effective it should commence at the inception of a project and should proceed through the various phases of the project.
The cost controller would generally be responsible for overall control of costs against the approved budget
and he is responsible to establish the necessary procedures to permit the utilization of appropriate business management and methods to control expenditures and to provide the client with accurate and timely cost information on the project.
Cost control would normally include the following functions:
• analysis of commitments prior to award and comparison with budget allocations
• establishment and monitoring of commitment authorization limits and procedures, including commitments against budgeted contingencies
• coding of commitments and expenditures to budget codes for comparison and record purposes;
• progressive monitoring of changes in scope and the preparation of required budget variation authorizations for the client’s approval
• regular progressive assessment of future commitments and/or costs required to complete the project together with the determination of commitments and/or costs to date and their relationship to the approved budget.
• regular updating of cash flow forecasts
• Establishment and implementation of appropriate cost reporting systems to provide client with timely information on the cost status of the project including variations against approved budget.