APPLICATION OF THE COST MODEL TECHNIQUE TO PROJECT MANAGEMENT

A computer technique for financial control is described which is based on assembly and observation of a representation of the cost significant factors. The Project Cost Model (PCM) is assembled from data defining the quantities of work in the project, the unit costs of the plant, labor and materials, the outputs of the resources to be applied and any limitations upon the sequence and timing of work. The PCM may be used to compile an estimate or tender for a project, to monitor costs and progress, to support, or to analyse a project for contractual purposes or for estimating/design feedback. Details are given of the mechanics of using PCM and the computation process involved.

• Supplemental Notes:
  • Presented at Seminar W (Road Design 2: Specialist Topics) of the PTRC Summer Annual Meeting, Warwick University, England, 8-12 July 1974.
• Corporate Authors:

  Planning and Transport Res and Computation Co Ltd

  167 Oxford Street
  London W1R 1AH,   England 
• Authors:
  • Barnes, NML
• Publication Date: 1974-7

Media Info

• Features: References;
• Pagination: p. 205-218
• Serial:
  • Publication of: Comision Permanente del Asfalto
  • Publisher: Comision Permanente del Asfalto

Subject/Index Terms

• TRT Terms: Analysis; Calculation; Construction; Costs; Decision making; Economics; Estimates; Feedback control; Information processing; Management; Materials; Mathematical models; Monitoring; Personnel; Programming (Planning); Project management; Road construction; Unit costs
• Uncontrolled Terms: Computation; Construction costs; Feedback; Projects
• Subject Areas: Administration and Management; Construction; Economics; Finance; Highways; Materials; Society;

Filing Info

• Accession Number: 00096301
• Record Type: Publication
• Report/Paper Numbers: PTRC/P/109
• Files: TRIS
• Created Date: Sep 10 1975 12:00AM