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(TCM-3106) Accurate Quantity Update: A Key for Project Management Success

Level: Intermediate
Venue: 2019 AACE International Conference & Expo, June 16-19, 2019, New Orleans, LA, USA

Abstract: Accurate cost reports reflecting the true project status are critical to project success. Why do contractors and owners continue to struggle with report accuracy despite so many tracking systems, software, applications readily available at their fingertips? One of the key factors strongly hinges on the ability to provide a timely, effective and accurate quantity update.

This paper addresses quantity types, relationships to labor productivity, earned value, commitment and forecast. The paper recommends proven solutions to combat common mistakes when updating quantities. Practical guidelines to quantity update strategy, frequency and review process will also be presented.