Here’s an overview of
what we do in Cost Management…
Last updated on : October 24, 2024
Helping clients make better, cost-informed decisions with detailed planning before construction begins, and detailed checking after construction begins
We provide clients with robust financial cost control from projection inception through financial close. The most critical time to influence/control costs is during the evaluation period starting at concept design and ending just prior to procurement of contractor. We support the client and the design team in the decision-making process when selecting construction methods, Mechanical, Electrical and Plumbing (MEP) systems, and architectural materials and finishes.
Market Analysis
- Prepare a market report for the project with input from our research team, taking into consideration forecast for material and labour availability, subcontractor capacity and any neighbouring projects that many impact on the cost the work – this analysis feeds into our cost studies and deliverables to tailor the pricing structure for the specific project location and timing
Benchmarking
- Compare our detailed cost studies with our database of historical cost information for similar projects, enabling us to identify potential areas of concern or opportunities for value management
Detailed Quantity Take-off and Cost Model Development
- Develop detailed quantification of project scope for all trades, including Mechanical, Electrical and Plumbing (MEP), based on current design information (drawings, specifications, narratives, and any pertinent reports)
Value Engineering workshop
- Lead a disciplined process with the client to review the project objectives, evaluate if the project is achieving the essential project functions at the lowest total cost, and evaluate opportunities to optimise best value for the approved budget
Risks workshop
- Participate in risks workshops and work with the project management on the management of the risk register, taking proactive measures where possible to mitigate identified risks
Enhanced decision-making and control
- Detailed cost analysis and proactive approach to ensure investment decisions are based upon comprehensive data
Transparent risk management
- Independent and unbiased cost expertise to provide comprehensive identification, quantification and mitigation of commercial risk
Budget confidence and certainty
- Detailed budget development, benchmarking and cost analysis to forecast cost and impact of change throughout project lifecycle
Cash savings and improved cashflow
- Accurate budgets and cost control procedures to unlock benefits that support business planning and growth
Business efficiencies
- Alignment between our services with client’s internal procedures and reporting requirements allows the client team to focus on their core business activities
- We have a team of in-house cost management professionals who are globally connected and have local insight
- We managed total project CAPEX of US$15B on behalf of clients across Asia Pacific in 2023
- We have a global database of over 200,000 projects totalling over $120B in spend to help accurately forecast spend and identify opportunities for savings
- AdaptiveWork (formerly Clarizen)
Our intuitive, industry-leading project management system allows project stakeholders to monitor progress and track key deliverables, ensuring all tasks and objectives are completed as scheduled. The system provides detailed document storage, financial management, risk identification and monitoring, plus custom reporting options for H&S reports.
- Jaggaer (formerly Bravo)
Our cloud-based platform strategic procurement system provides transparency during the procurement process of Vendor Management, Strategic Sourcing, Contract Management and Supplier Performance Management.
- How confident are you on the accuracy of your proposed project budget?
- How do you track spend and forecast cost if changes occur throughout the project lifecycle?
- When developing a project’s budget do you carry out any benchmarking and cost analysis?
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