Posted by Civil Engineer On December - 30 - 2008
Construction cost constitutes only a fraction, though a substantial fraction, of the total project cost. However, it is the part of the cost under the control of the construction project manager. The required levels of accuracy of construction cost estimates vary at different stages of project development, ranging from ball park figures in the early stage to fairly reliable figures for budget control prior to construction. Since design decisions made at the beginning stage of a project life cycle are more tentative than those made at a later stage, the cost estimates made at the earlier stage are expected to be less accurate. Generally, the accuracy of a cost estimate will reflect the information available at the time of estimation. Read the rest of this entry »
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Posted by Civil Engineer On December - 27 - 2008
The Foundations for Risk Management presented herein will be the basis for the tools and other content that the Risk Management Program committee will deliver at the upcoming convocation. These Foundations were developed by engineers in private practice to help engineering firms focus their practice on avoiding and minimizing risk.
The first five Foundations deal with the process of the engineering business and the last five deal with project management. Read the rest of this entry »
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Posted by Civil Engineer On December - 26 - 2008
Risks in construction projects may be classified in a number of ways. One form of risks classification is as follows:
- Socioeconomic factors
Posted by Civil Engineer On December - 21 - 2008
Feasibility Study Request
The Project Proposal Template may be used to request funding to conduct a Feasibility Study, which in turn is used to provide an analysis of the objectives, requirements, and concepts of the proposed work, including justification, schedule, and deliverables. Its main purpose it to determine the technical and financial viability of a proposed change as well as to assist in identifying or clarifying activities, cost, timeframes and/or requirements (system and/or business). During the analysis, the objectives of the proposed work are defined based on the needs identified. Read the rest of this entry »
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