Project Costing It will be the Project Manager's to keep an eye on the big picture to guarantee the restaurant automation system will be developed on time and on budget. Many details need focus.
Resource management includes evaluating available and planned additions to manpower resources against available and qualified organizational staffing to assure that manpower resource needs are met by the most economical mix of accessible, experienced consultant and contractor personnel.
Resource management also requires the review and evaluation of new tasks and changes in existing tasks to assure that increases or decreases in task cost and schedule are acceptable and are appropriately approved. By integrating the task-responsibility matrix, it should create a realistic picture of the job progress using status tracking by job, cost account, and contract, combined with "as of," point-in-time, and projected-final status breakdowns.
When utilizing project costing for project management, we will compare the actual labor and material cost against estimated cost on a weekly.
For example, if the labor cost is 80% of the estimate that was given to the restaurant and the team is only 30% complete on the job, the Project Manager is alerted that he has problems. The sooner he is aware of such a problem, the greater chance he will have of solving the problem. Project costing information will allow the Project Manager to focus on the problem and make adjustments to manpower or materials.
It may be determine by analyzing the job cost that the employees performed work outside the scope of the contract. Thus, the analysis of timely job cost information may result in change orders.
Managing Costs ÃÂ· How cost data is used to refine the resource allocation plan and to permit financial analysis and control ÃÂ· Determining the most cost effective resource configuration for a...