Cost Control - EPC Project

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Jithin Kambhikanam
User offline. Last seen 1 week 4 days ago. Offline

Hello Everyone,

I work in a Oil & Gas EPC Company and part of my job is Cost control. I did Cost Control without any coding in a spreadsheet which I used to compare with the budgeted Cost.

 

I would like to get in detail of Cost Control. Could anyone over here link me or send me to a article/website which would show in detail of how cost control is done.

 

Regards

Jithin

Replies

Jithin Kambhikanam
User offline. Last seen 1 week 4 days ago. Offline

Hi Zoltan,

 

So you mean that I would have to make "Resource ID " for all those 600 or 700 Equipments". Equipments I meant to say Pumps or Substations or AHU...etc.

 

So for each Manpower (by Trade), Material (By Item) and Equipment (By Trade) each should have a separate Resource ID which all in together would be 100's or 1000's.

 

Regards

Jithin

Zoltan Palffy
User offline. Last seen 14 hours 30 min ago. Offline
Joined: 13 Jul 2009
Posts: 1553

yes I think you have it now

Jithin Kambhikanam
User offline. Last seen 1 week 4 days ago. Offline

Hi Zoltan,

 

Thank you very much.

 

But you would have to define the resource first right. And resource could be,

 

Labor

Nonlabor

Material 

 

So shoudlnt you put Price / Unit. Say if its a Equipment - IT would be under MAterial I guess. So you would have a unit price for that Pump. So what if there is 600 700 equipments.

 

Should all of those be defined in the "Resource Tab" with the Unit Price.

Regards

Jithin 

Zoltan Palffy
User offline. Last seen 14 hours 30 min ago. Offline
Joined: 13 Jul 2009
Posts: 1553

it does not matter what industry that you are in. Bascially you set up your resources then you assign the resources to the activities then you put in the budgeted cost and manhours in the resource for each activity. If you would like to you can also assign cost codes to the resources. Then you start to update your schedule by apply actual cost against these activities to track how you are performing making any necessary adjustments as you progress through your project. Rememeber to add aadditional change order work to your schedule thereby adding additionla resources.