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April 25, 2012 Posted by | Project Management | | Leave a comment

Construction Cost Management

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How much? It is the first and most important question to ask before investing the time and money required to develop a concept into a realized project, and answering it incorrectly at the concept phase will assuredly lead to cost overruns and time delays later down the road.

Cost management is the process by which companies control and plan the costs of doing business. Individual projects should have customized cost management plans, and companies as a whole also integrate cost management into their overall business model. There is no single accepted definition for this term, because it has such broad applications and possible strategies. When properly implemented, cost management will translate into reduced costs of production for products and services, as well as increased value being delivered to the customer.

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April 25, 2012 Posted by | Cost Management | | Leave a comment