Describe the factors that determine quantities and cost data

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Reference no: EM132353806

Controlling Project Quantities and Costs in the Workplace

1. Implement appropriate quantities and cost control systems which are able to provide early warning of problems.

1.2 List and describe the factors that determine quantities and cost data.

1.3 Explain how appropriate project quantities and cost control systems, which will provide early warnings of problems, can be implemented.

2. Ensure that quantity and cost data is regularly collected, record it and pass it on to the appropriate people responsible in time for them to be able to use it.

2.3 Explain methods that allows for quantities and cost data to be collected and recorded for the project and the resources used.

2.4 Explain how to ensure that data is passed on to the people responsible in time for them to use it.

3. Ensure that work values, quantities and cost data are prepared.

3.3 Explain how to ensure that correct work values, quantities and cost data are prepared.

4. Ensure that accurate quantities and cost data are prepared and presented in a format which will help the people responsible to make decisions.

4.3 Explain methods that can ensure that accurate quantities and cost data is presented in a format which will help people responsible to make decisions.

5. Ensure that variations and trends in quantities and cost data are identified, quantified and costed.

5.3 Explain how to ensure that variations and trends in quantities and cost data are identified, quantified and costed.

5.4 Give reasons why trends in cost and quantities and cost data need to be quantified.

6. Ensure that any variations are investigated and agree and implement appropriate corrective action with people responsible.

6.3 Explain how to ensure that variations in cost data are investigated and explain why variations in cost data need to be investigated.

6.4 Explain methods and techniques of agreeing and implementing appropriate corrective actions with people responsible which will restore costs and expenditure to budget.

6.5 Give reasons why appropriate corrective action with the people responsible, in order to restore costs and expenditure to budget, needs to be agreed and implemented.

7. Identify opportunities for cost savings and recommend them to people responsible.

7.3 Explain how opportunities for cost savings can be identified.

7.4 Explain how systems and processes which will assist in the identification of opportunities for cost savings, can be developed and recommended to the people responsible.

7.5 Give reasons why systems and processes, which identify opportunities for cost savings, need to be developed and recommended to people responsible.

7.6 Describe methods that can recommend opportunities for cost savings to people responsible.

Reference no: EM132353806

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