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eBook details

• Title: Project Time and Budget Monitor and Control (Report)
• Author : Guo-li Yin
• Release Date : January 20, 2010
• Genre: Education,Books,Professional & Technical,
• Pages : * pages
• Size : 63 KB

Description

1. INTRODUCTION The survey shows that most projects encounter cost and time over-runs (Williams Ackermann, Eden, 2002,p192). According to Wright (1997)'s research, a good rule of thumb is to add a minimum of 50% to every time estimate, and 50% to the first estimate of the budget (Gardiner and Stewart,1998, p251). It indicates that project is very complex and full of challenge. Many unexpected issues will lead the project cost and time over-runs. Therefore, many technologies and methods are developed for successful monitoring and control to lead the project to success. In this article, we will discuss in the construction phase, how can a project manager to be successful in time and budget control. Another part we will discuss what pitfalls will wait for the manager in his endeavors to monitor and control the project.

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