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Monitor and Control Project Cost Management for Construction Project Success
Increasing complexity and underestimating complexity are major reasons for cost
cost estimation, cost control & monitoring, overruns and time delays in
1 Jaako Kujala, Tim Brady, & Jaakko Putila 2014 Challenges of Cost Management in Complex Project revernue recognition, profitability analysis & projects. Thus, understanding and dealing with complexity are important
margin calculation knowledge areas in project management.
the data covered every deviation on The planning fallacy is a fact and the data from the portfolio milestone
milestones over a five-year period. The delays tell the manager he has to
Petter Eik-Andresen, Andrea D. Landmark, Managing Cost and Time in a Large Portfolio of
3 2015 analysis of the data was therefore followed implement some strategies to govern the budget. follow the reported deviations
Agnar Johansen Projects
up by several interviews of the on milestones and economic positive and negative risk. identify the economic
portfolio management team. flexibility in the portfolio in order to govern the pay outs late in the year.
by using the Successive Principle, good control over the cost of large projects has
project planning,
5 Steen Lichtenberg 2016 Successful Control of Major Project Budgets finally been established in Scandinavia, first of all in Norway and to some degree
cost estimation and risk analysis.
in Sweden and Denmark besides sporadically in other countries