Project Control / Procurement
Baseline budgets are projections of hard and soft cost including contingency factors which define reference point to be used for performance analysis during the execution of the project. One of the benefits of the baseline budget from an executive point of view is that it can help to prevent the projects to going over budget. Cost Umbrella team has been assigned to produce a baseline budget after project award for many mega projects.
We handed over well organized baseline budget to execution team after getting approval from management committee. The budget helped the project team throughout the execution timeframe to control and monitor the project performance from cost and time perspective. We are expert in conducting EVM analysis for each active contract and producing a consolidated version by combining different components. Cost Umbrella team apply all critical EV calculations such as CV, SV, CPI, SPI, EAC and ETC to demonstrate the current project status for budget and schedule. We help client to establish EVM guidelines and reporting template to enables the project team for conducting EVM studies on their own.
Our experienced planners and schedulers are facilitating more informed and efficient decision-making, by providing clients with essential basis for managing trade-offs between cost, schedule and project scope. Cost Umbrella team develops progress reports on different frequencies (depending on need) during execution phase and issue to client. We get involve with project dedicated team and participate in the weekly meeting regularly. Based on the finding of EVM analysis, CU team produces cost value reconciliation report (CVR). The purpose of CVR is to monitor and measure expenditures against budget on ongoing construction projects. Typically, CVR reports are used by contractors to measure profitability and report to the management team.
Baseline Budget Estimation:
Baseline budgets are projections of hard and soft cost including contingency factors which define reference point to be used for performance analysis during the execution of the project. One of the benefits of the baseline budget from an executive point of view is that it can help to prevent the projects to going over budget. Cost Umbrella team has been assigned to produce a baseline budget after project award for many mega project. We handed over well organized baseline budget to execution team after getting approval from management committee. The budget helped the project team throughout the execution timeframe to control and monitor the project performance from cost and time perspective.
Earned Value Management (EVM):
EVM is a basic set of computation used as a control system in tracking two variable “Cost & Time” to monitor two statuses critical to every project “Budget and Scheduling”. We are expert in conducting EVM analysis for each active contract and producing a consolidated version by combining different components. Cost Umbrella team apply all critical EV calculations such as CV, SV, CPI, SPI, EAC and ETC to demonstrate the current project status for budget and schedule. We help client to establish EVM guidelines and reporting template to enables the project team for conducting EVM studies on their own.
Progress Report
Cost Umbrella team develops progress reports on different frequencies (depending on need) during execution phase and issue to client. We get involve with project dedicated team and participate in the weekly meeting regularly. Based on actual site condition, we capture the actual work-done through approved inspection reports and reflect it in monthly progress report.
Cost Value Reconciliation (CVR):
Based on the finding of EVM analysis, CU team produces cost value reconciliation report (CVR). The purpose of CVR is to monitor and measure expenditures against budget on ongoing construction projects. Typically, CVR reports are used by contractors to measure profitability and report to the management team. CU team highlights any known issues within a project which may need early actions by stakeholders. We ensures that facts are presented in-front of management without any cover-ups in-order to make the project seem to be in a better position than it can have devastating implications.
Risk Assessment:
Cost Umbrella’s program management experts will help clients to navigate construction risk and enable our clients to deliver projects on time while meeting the budget, time and performance requirement. Our risk management team applies qualitative and quantitative risk mitigation techniques to manage risks, enables decision making and successful project delivery. Our experience on mega projects helps us to forecast the possible factors of risk and opportunities.