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ips@ips-projects.com.au

Project Cost Control is critical for keeping major resource projects on budget and allows project managers to take corrective action before it is too late.   In order to manage costs on complex projects IPS has developed a two-cycle approach to Project Cost Management which includes both a planning and operating cycle. 

IPS works closely with the client in the planning cycle of a project to develop the policies and procedures that will facilitate successful completion.  A key part of this process is clearly defining the project scope and organizing the cost information into a Work Breakdown Structure (WBS).  Working from an existing client budget or from detailed estimates, IPS creates an approved baseline control budget which actual project costs can be measured against. 

In the operating cycle IPS cost control systems are used to streamline work authorisation, cost data collation, cost accounting and client cost reporting.  IPS uses their proprietary JobCost database system to record, track, monitor and report all committed and incurred costs as the project progresses.  Change Control Management and Earned Value techniques are also utilized to manage scope creep and track fluctuations.  By showing the forecast budget at completion and the current variance against the baseline budget, IPS Project Cost Management Systems help project managers make informed decisions and avoid major cost blowouts.   

 

  

 

 

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