Institute of Commercial Management | Qualification Subject

Managing Work & Costs

Main Topics of Study

Implementing the Programme

  • Project authorisation
  • Authorising work without a contract or order
  • Preliminary organisation of the project
  • Correspondence and other projects
  • Project engineering standards and procedures
  • Physical preparation and organisation
  • Getting work started
  • Issuing detailed planning and work instructions

Managing Progress

  • Closed loop control system
  • Routine collection of progress data
  • Non-routine approach to progressing
  • Managing subcontractors and agency employees
  • Routine priority allocation in manufacturing projects
  • Bad news
  • Corrective measures
  • Immediate action orders
  • Haste versus good management
  • Construction site organisation and management
  • Progress meetings
  • Project reports

Changes and Production Permits

  • Classification of changes
  • Authorisation arrangements
  • General administration
  • Estimating design modification costs
  • Forms and procedures
  • Modifying drawings
  • Emergency modifications

Cost Management – Principles

  • Objectives of project cost management
  • Cost management factors
  • Total cost approach
  • Budgets
  • Cost collection methods
  • Audits
  • Comparing actual and planned costs

Cost Management – Evaluation, Prediction and Reporting

  • Milestone analysis
  • Earned value analysis
  • Earned value analysis prediction reliability and implications
  • Evaluating cost performance for materials and bought out equipment
  • Effect of modifications on earned value analysis
  • Project ledger concept
  • Predicting profitability
  • Post mortem

Final Project Definition and Closure

  • Formal project closure
  • Final project cost records
  • Disposal of surplus material stocks
  • Final project definition
  • As-built condition
  • Managing files and archives

Recommended Reading

Main Text:

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Project Management – Dennis Lock (Gower)

Indicative Text:

Alternative Text and Further Reading:

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Getting the Job Done: Managing Project Teams & Task Forces for Success – W A Randolph (Prentice-Hall)