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Cost Management and Control

Data Point approach to cost management is the optimization of value for our clients through the procurement, design and implementation phases.

The effective management of costs is contigent on efficiently harvesting and applying reliable contemporary cost data for accurate cost forcasting at commencement and the implementation of regular cost-checks and hold-points at strategic milestones during the design process.

 

Data Point provides accurate and reliable Cost Reports through all stages of the design cognizant that the cost of change increases with time and that 80% of a project’s costs are determined at concept and schematic design. Data Point team has an in-depth knowledge of project cost allocation and sensitivities and is therefore able to identify and de-risk project cost-over-runs.

Data Point expertise extends to the project implementation phase during which updated cost reports are issued regularly identifying approved budget, anticipated final cost, cost variances and risks. Data Point will implement an effective Change Management procedure to augment cost control procedures to allow clients to make informed decisions prior to implementing changes.

Data Point Approach and Methodology

  • Cost data-collection interrogation and validation Development of Cost Models, Elemental Cost Plans and Pre-tender Estimates
  • Design Management to promote a “design-to-cost” approach
  • Establishment of rigorous Change Management Approval process
  • Contingency management and draw-down strategy and procedure
  • Cross-check and interrogations of key costs based on prevailing market rates
  • Development of Risk Registers identifying key budget risks
  • Earned Value Analysis
  • Planned versus actual Cash-flows
  • Quantity take-off using CostX, Building Information Modeling or CAD measurement software

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