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

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

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)