Time & Cost Management

During each phase of a project, the process of planning is crucial. To plan efficiently is to establish realistic targets, define resource allocations and set out benchmarks, standards and priorities against which performance can be compared and controlled. Planning also facilitates activity verification, provides a record of events, regulates progress and can demonstrate impacts on costs and cash flow. This enables management to make better informed decisions.

An accurate and extensive pre-tender plan of the work must be developed based on sound historical records of resources, timing, sequencing and all known factors that might affect the duration of the project, as this will have a significant impact on its commercial viability. Time related charges such as the preliminaries items, constructional plant and labour are key commercial elements of organizing resources and logistics to afford a fast track programme and the most economic critical path.

The correlation between the four key elements of time, cost, quality & management is often highly complex. Contemporaneous records are frequently inadequate which jeopardizes the ability to undertake cost / benefit analyses, the measurement of planned versus actual targets, and the recovery of lost time and money. Lancaster House International Consulting's expertise enables clients to plan with increased confidence and precision and take pre-emptive action when deviations arise. We provide the following expertise to improve the forecasting, monitoring and control of clients' projects: