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英国论文网:Cost Management at the Investment Decision-Ma

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Cost Management at the Investment Decision-Making and Design Stage
Background
In the near future, the effective management has become the consensus of contemporary enterprises, the cost management which is the important part of the project management continued to increase in the complex process of project construction. In this paper, the investment decision-making stage and design stage of the impact of the project costs of the link to proceed to analyze how the building works carried out in the effective cost control. Recently, as the requirements of houses are increasing, a lot of buildings are built each year, and the quantity is increased year by year in China. In the UK, there has the oldest housing stock in the developed world with 8.5 million properties over 60 years old. According to the current demolition rates, those properties have to last for many years than it was originally built to stand. In addition, more than 80% of existing UK houses was suggested that they will still stand in 2050. Therefore, there is a big requirement for houses in UK as well. However, the number of claims is increasing as the project costs have not been effectively managed which result in the project costs is overrun. And the overruns usually is caused by the budget of investment decision-making and design stage which do not accurately reflect the project costs. It reflects the problem of how important of project cost management at the investment decision-making and design stage for successfully delivering project within the budget.
Topic-- Cost Management at the Investment Decision-Making and Design Stage
A project costs include sunk costs, fixed costs, variable costs, opportunity costs, indirect costs and direct costs.
Project cost management can be defined as “Project cost management is going to plan and budget your projects for you achieving your project goals within the expenditure allocated.” A project manager should have those techniques to examine that are estimating costs, relationships among project schedules, work breakdown structures and cost estimates. In addition, discovering the difference between project cost estimates and budgets, and use contingency and management reserves those techniques should be had by a cost manager as well. When the project cost manager do budget reviews and approvals, and identify the cost variances and budget baselines, a various factors should be considered by him. In fact, it is
Comment [TW1]: Statements like this should be supported by numbers and referenced to source.
Comment [TW2]: Again, reference to source
Comment [TW3]: What is your evidence for this statement? Are you saying this is equally true in UK and China or that it is more of a problem in one of these countries?
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very difficult to consider and manage everything in the whole process to complete a project. Therefore when the cost overruns the budget, the cost overruns should be recovered. Managing the cost does not overrun this is the first task, then you should consider how to reduce the cost to earn more values. Sometimes, those values can be used to counteract the cost overruns when it cannot be recovered. As the above stated, everything else in the project must be managed, if you do not to do so, the costs will just keep on climbing. In addition, a project cost management has four processes that are resource planning, cost estimating, cost budgeting and cost control. Obviously, there are four tasks of the project cost management that are collecting data, estimating cost, budgeting cost and controlling cost.



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