Budgeting Continuous Improvements and Process Estimating
1. Problem or Opportunity Statement
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budgeting
DOES BIM OFFER A BETTER APPROACH TO GUARANTEE A RELIABLE, ACCURATE, AND PRECISE COST ESTIMATE?
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"DOES BIM OFFER A BETTER APPROACH TO GUARANTEE A RELIABLE, ACCURATE, AND PRECISE COST ESTIMATE?" by Piero Anticona
Abstract: Building Information Modeling (BIM) uses on Integrated Project Delivery (IPD) approach, a collaborative and participative method with stakeholders in early stages of the project; this should be a significant differentiator comparing with TCM, GPC, and GAO which use a traditional Project Delivery approach.
BEST PROCESS MAP FOR OBTAINING THE OPTIMUM VALUE FOR A FUTURE INVESTMENT
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"BEST PROCESS MAP FOR OBTAINING THE OPTIMUM VALUE FOR A FUTURE INVESTMENT" by Piero Anticona
Abstract: Investors always look for the optimum return of the capital invested. They still run feasibility studies to determine which is the best alternative among different projects that offer the best IRR, VPN, ROI, ROCE, or other financial scoring models.
Some projects or programs get rejected because of the value of the alternative chosen is high, and sometimes the process for estimating and budgeting does not obtain the optimum result.
Beyond Earned Value Management
If I asked you what the trickiest part of project management was for your enterprise, what would you say? If you answered managing the diverse projects in your portfolio – you’re not alone. Most businesses work on a variety of projects (whether it be different contract types, duration or dollar amounts) that can be categorized into four major tiers:
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The Most Overlooked Total Installed Cost (TIC) Items - An Integrated Consulting Article
Project estimating is one of the most critical components of PM. Done well, an accurate estimate helps to ensure project success. Done poorly, or not at all and the project can incur significant impacts. As important as Total Installed Cost (TIC) is to the success of a project, there are areas that are often overlooked in the estimates.