(IND-3777) [InEight] Why You Need a Multi-dimensional Approach to Construction Cost Management
This video is currently being processed. It will be ready for viewing shortly.
In order to receive proof of
CEU credits, you must watch this presentation in its entirety.
Section(s): 9.2. Progress and Performance Measurement 11.3. Information Management
2021 AACE International Conference & Expo
Abstract: Successfully managing costs for a complex construction
project requires tremendous knowledge:
Knowledge of the performanceassumptions behind every budget line item (not just the expected
Knowledge of actual
performance based on progress achieved to date (again, not just the
actual cost, but the factors driving the cost)
Knowledge of changes
currently making their way through the review and approval process
Knowledge of risks to
scope, cost, and schedule
Most cost management professionals are severely challenged
when it comes to getting access to this type of information in anything
resembling real time. But with the latest technological advancements, it’s now
easier than ever. In this presentation, InEight Chief Product Officer Brad
Barth will discuss how the right project cost management software now offers a
multi-dimensional approach to cost management, allowing users to:
Track and forecast costs
more accurately and efficiently.
earned value and true percent complete.
Use benchmarks from
previous projects to identify cost and schedule risk.
Reduce manual data entry
and the use of disparate systems.