There are 2 documents given in this assignment, one is the drawings (structural & architectural)which cover building and external to landscaping works and the other is BQ indicates the tendered cost of the works.
I did taking-off the whole drawings in order to generate specific quantities. These could be used for
i. material purchase
iii. derived what types of manpower and machineries need to execute each activity.
iv. from (iii), I obtain info. on the cost of manpower & machineries plus material need to execute in each activity.
From all the above I would approximately know what is the actual cost need to complete in each and the whole activities in the project.i.e. cost I would spend to complete each and the whole activities. For this, I categorised it as TARGET COST RESOURCES (as baseline).
Another use of BQ is to breakdown the cost in each works according to the schedule activities in P3 i.e. the income (cost) of of each activity in comparison to resources (manpower,machineries,material) spend. For this I categorised it as TARGET INCOME fr BQ (as baseline).
When I shceduled the P3, I hope to get the above as a baseline.
When the project progress and updated, then I would foresee to get another 2 things:
ACTUAL COST RESOURCES (as actual spending on the project).
and
ACTUAL INCOME fr BQ (as actual claim made from the work progress).
Then from all the above I hop that I could track and identify which are the activity that have a negative or positive impact onto the project in terms of resources, productivity/performance, cost which will be incorporate in another syllabus/subject in the next semester under project risk analysis.
The end product I hope to obtain from the P3 is :
A. TARGET COST RESOURCES (as baseline)vs ACTUAL COST RESOURCES
B. TARGET INCOME fr BQ vs ACTUAL INCOME fr BQ.
From B, I could calculate the EV (as inmcome from the Client) for the project.
From A, (as from the side of contractor) this is to control the resources.
This is the challenge I face to get all the above incorporate in P3.
"I would normally use the Cost Account features, and then organise by Cost Account."
I am a bit unclear about Cost Account. The training manual fr P3 do not cover much to play around with it. I thank you for your advice. I ll try.
"I would recommend that you do a little bit of background reading."
Thank-you. Its not that easy thou, asI just obtain a trails of CDs titled "Only Fools and Horses". It suck up my time.
I would normally use the Cost Account features, and then organise by Cost Account.
I would also query your definition b), your definition equates to the earned value for the activity, not the actual cost.
BCWS (the Budget Cost of Work Scheduled) refers to the distribution of cost in your original schedule and is used in EVA to generate the Schedule Performance Index.
I would recommend that you do a little bit of background reading.
Member for
16 years 9 monthsRE: Project Cost Control in P3
I am suggesting u to seperate it into 2 file which is:
File 1: TARGET COST RESOURCES (as baseline)vs ACTUAL COST RESOURCES
File 2: TARGET INCOME fr BQ vs ACTUAL INCOME fr BQ.
The data u will get from the 2 different file after updating.
Member for
16 years 9 monthsRE: Project Cost Control in P3
How did you allocate the BoQ costs ?.
There are 2 documents given in this assignment, one is the drawings (structural & architectural)which cover building and external to landscaping works and the other is BQ indicates the tendered cost of the works.
I did taking-off the whole drawings in order to generate specific quantities. These could be used for
i. material purchase
iii. derived what types of manpower and machineries need to execute each activity.
iv. from (iii), I obtain info. on the cost of manpower & machineries plus material need to execute in each activity.
From all the above I would approximately know what is the actual cost need to complete in each and the whole activities in the project.i.e. cost I would spend to complete each and the whole activities. For this, I categorised it as TARGET COST RESOURCES (as baseline).
Another use of BQ is to breakdown the cost in each works according to the schedule activities in P3 i.e. the income (cost) of of each activity in comparison to resources (manpower,machineries,material) spend. For this I categorised it as TARGET INCOME fr BQ (as baseline).
When I shceduled the P3, I hope to get the above as a baseline.
When the project progress and updated, then I would foresee to get another 2 things:
ACTUAL COST RESOURCES (as actual spending on the project).
and
ACTUAL INCOME fr BQ (as actual claim made from the work progress).
Then from all the above I hop that I could track and identify which are the activity that have a negative or positive impact onto the project in terms of resources, productivity/performance, cost which will be incorporate in another syllabus/subject in the next semester under project risk analysis.
The end product I hope to obtain from the P3 is :
A. TARGET COST RESOURCES (as baseline)vs ACTUAL COST RESOURCES
B. TARGET INCOME fr BQ vs ACTUAL INCOME fr BQ.
From B, I could calculate the EV (as inmcome from the Client) for the project.
From A, (as from the side of contractor) this is to control the resources.
This is the challenge I face to get all the above incorporate in P3.
"I would normally use the Cost Account features, and then organise by Cost Account."
I am a bit unclear about Cost Account. The training manual fr P3 do not cover much to play around with it. I thank you for your advice. I ll try.
"I would recommend that you do a little bit of background reading."
Thank-you. Its not that easy thou, asI just obtain a trails of CDs titled "Only Fools and Horses". It suck up my time.
Hantam
Diploma in Building, UiTM
Shah Alam
Malaysia
E-mail: hippietrai111@yahoo.co.uk
Member for
22 years 11 monthsRE: Project Cost Control in P3
How did you allocate the BoQ costs ?.
I would normally use the Cost Account features, and then organise by Cost Account.
I would also query your definition b), your definition equates to the earned value for the activity, not the actual cost.
BCWS (the Budget Cost of Work Scheduled) refers to the distribution of cost in your original schedule and is used in EVA to generate the Schedule Performance Index.
I would recommend that you do a little bit of background reading.