Cost and Value Management by Ray R. Venkataraman

By Ray R. Venkataraman

Price and price administration in initiatives offers practising managers with a radical knowing of a few of the dimensions of rate and price in tasks, besides the standards that effect them, and the managerial ways that will be most efficient for reaching fee potency and cost optimization. This e-book addresses expense from a strategic point of view, supplying thorough insurance of some of the components of worth administration comparable to price making plans, worth engineering and price research from the viewpoint of tasks.

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It is also important to obtain necessary approvals before the project scope is changed, with all project stakeholders informed of the changes. The scope document should also define the limits of the project’s scope by clearly identifying any aspects that will not be the responsibility of the project organization or contractor. For example, in a house construction project, the installation of a concrete driveway may be included in the project scope, while landscaping may be excluded and left to the owner.

Of these, London’s Millennium Dome serves as a classic case study. Case Study: London’s Millennium Dome One of the central features of London’s millennium celebration was the creation of the Millennium Dome, a project that invoked strong ‘‘love it/hate it’’ feelings from day one. Aesthetic controversies aside, when it comes to poor cost estimation and misguided optimism, the Millennium Dome stands supreme. Built on the site of a former gasworks in Greenwich, southeast London, the 20-acre, circular, tent-like building is twice the size of the Georgia Dome in Atlanta and has the largest roof of any structure in the world.

New York: Wiley. 4. Laufer, A. 1991. Project planning: timing issues and path of progress. Project Management Journal, 22 (2); Stuckenbruck, L. C. (1981). The Implementation of Project Management: The Professional Handbook. Boston, MA: Addison-Wesley. 5. Pinto, J. K. (2007) Ibid. 6. Martin, M. G. (1998) Statement of work: the foundation for delivering successful service projects. PM Network, 12 (10). 7. htm 8. Pinto, J. K. (2007) Ibid. 9. Mocha, T. html 10. Gray, C. , and Larson, E. W. (2006) Project Management: The Managerial Process, 3rd ed.

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