Cost monitoring and optimisation system for large complex project
by Yunna Wu; Kaifeng Chen; Lingwenying Li; Yong Huang; Meng Yang; Haobo Zhang
International Journal of Technology, Policy and Management (IJTPM), Vol. 17, No. 3, 2017

Abstract: Characteristics of large complex projects include great investment, big construction difficulty, long construction period, probably risk factors and the like. Although the previous researchers introduced the life cycle management to control investment, the move fails to achieve satisfactory results. The lack of systemic consideration can explain this. Therefore, the three-dimensional lifecycle investment management system is constructed to control investment in this paper. The dimension of subcontract hierarchy refers to the levels of the contractor. The dimension of cost milestone points means the cost supervision node. The dimension of program support review optimising is used to analyse systematically and fix the cost deviation. Then, the index system of cost monitoring milestone point is built. Finally, the operation mechanism of the management system is illustrated on the basis of mapping model between the contract and project work breakdown structure. A case study proves that the cost management system is effective.

Online publication date: Mon, 04-Sep-2017

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