Financial control of project payments to avoid claims and control scheduling

 

Introduction:

This course provides the professional with a detailed understanding of scheduling project cost and payments activities, along with identifying the critical activities and critical path. It also covers resource management, resource leveling and allocation as essential elements in controlling project costs and establishing the resources needed. In addition, it provides a basis for the many areas of estimating that construction professionals may face.  Other methods of cost control, such as value engineering and earned value, will also be discussed

Objectives:

The aim of this workshop is to explain the techniques for scheduling cost of a project, establishing time-cost relationships, resource management methods, different types of cost estimates, and expanding one’s cost-estimating skills.  Practical examples will be given to increase familiarity with the various methods and their components, with the goal of preparing cost estimates and project schedules as accurately as possible.

This practical workshop will teach you how to identify management responsibilities, develop your communication skills, learn effective administrative responsibilities, understand legal requirements, structure effective record-keeping methods, and promote good organizational and contract close-out procedures.

Training Method:

o  Live group instruction

o  Use of real-world examples, case studies and exercises

o  Interactive participation and discussion

o  PowerPoint presentation, LCD and flip chart

o  Self-test and group activities

Each participant receives a binder containing a copy of the presentation slides

Who should attend?

The workshop will benefit field administrators-in-training, field representatives of engineers, contractors,  owners and government agencies; construction inspectors, construction managers, project managers, and others responsible for administration in controlling the project cost and payments  .

 Outlines:

DAY 1: 

The Art of Planning, Fundamentals of Project cost , time management, Establishing the Project and Work Breakdown Structure, Developing the Schedule, Project Network Logic, Arrow Diagrams and Precedence Diagrams, Payment Time Analysis, Critical Path and Floats, Bar Charts, Case Study.

Follow up on payments , Leveling and Allocation, Time-Cost Relationships, Project Compression and Acceleration, Project Controlling and Monitoring; Case Study.

 

DAY 2:

The Payment Management Process, Introduction to Project Budgeting Cos t controlling and Concept Estimating, Budget Estimating Approaches, , Life Cycle Costing (LCC), Value Engineering (VE); Case Study.

Introduction to Final Estimates, Direct Costs, Indirect Costs, Cash Flow Analysis; Case Study.

 

DAY 3:

Effective Cost and Time Control – Payments and Payment Certificates, Monitoring Job Progress and Scheduling Requirements, Procedures for Progress and Cost Control, Earned Value and Project Control, Monthly Status Reports, Case Study, Conclusion.

Project Documentation and Control Systems – Contract Administration in the Field, Roles of the Parties, Legal and Contractual Roles, Pre-Construction Activities, Keeping Good Records, Definition of a Record, Hierarchy of Records, Types of Records, The Record as a Constructive Tool in Disputes, Construction Documents as Pivotal Communication Records and Tools, Keeping Conference and Meeting Records, The Documentation Process, Case Study.

 

DAY 4:

Communications Among the Participants during the Construction Phase – Basis for all Communication, The ‘Chain of Command’, the Formal vs. the Informal, the Implied vs. the Explicit, When Not to Communicate, Extent of Distribution, Other Means of Communicating, Establishing a Responsibility Matrix, Case Study. Organization of Field Administrator’s Record System and Project Control – Designing the Record Forms: Essential Elements – Lean and Effective, Processing the Form, Standard Pre-printed Forms: What is Available, Sources, Application of Forms for Specific Uses, On-Site Coordination Meetings and Communication, Monitoring Progress and Schedules, Payment Certificates and Cost Control, Case Study.

 

DAY 5:

Dispute and Claim Causes and Their Impact – Suspension of Work, Re-sequencing of Work, Variation Orders, Variations in Estimated Quantities, Differing Site Conditions, Defective Specifications and Drawings, Acceleration of the Work, Force Majeure, Termination for Convenience, Termination for Default and Re-procurement, Case Study. Claim and Dispute Management and Prevention; Substantial Completion and Project Hand-Over – Commissioning and Handing Over, Substantial Completion, Preparation of Punch List, Starting of Systems, Conclusion.

Schedule:

  • 08:30 – 10:15 First Session
  • 10:15 – 10:30 Coffee Break
  • 10:30 – 12:15 Second Session
  • 12:15 – 12:30 Coffee Break
  • 12:30 – 14:00 Third Session
  • 14:00 – 15:00 Lunch

Fees:

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: