Offers coverage of each important step in engineering cost control process, from project justification to life-cycle costs. The book describes cost control systems and shows how to apply the principles of value engineering. It explains estimating methodology and the estimation of engineering, engineering equipment, and construction and labour costs; delineates productivity and cash-flow analysis; and more.
Estimating project costs: the estimating process; estimating methodology; estimating engineering costs; estimating engineered equipment costs; estimating bulk material costs; estimating construction labour and indirect costs; productivity analysis; cashflow analysis; estimating the cost of escalation; location factor analysis; estimating the cost environmental restoration. Evaluating risk and return: risk and contingency analysis; profitability analysis; investment decision making. Controlling project costs: cost control systems; controlling engineering costs; controlling the cost of engineered equipment; controlling the cost of materials; applying the principles of value engineering; controlling the cost of construction labour; controlling the cost of quality; controlling the cost of safety; controlling the cost of shipping; avoiding claims.