WSP PROJECT CONTROLS & TECHNOLOGY IN REAL-TIME

COST MANAGEMENT “Cost and budget are critical to manage.” Cost and budget management is key for successful project and program delivery. The budget determines critical decision points to assess progress, which can be impacted by concurrent projects, changes in initial assumptions, and additional unexpected costs. Our cost managers will work with you to create the platform to manage and navigate cost data allowing you to make informed decisions. Our approach aligns with PMBOK Budget and Cost Management standards.

We approach this work with an innovative perspective, from incorporating new technologies to leveraging our national and worldwide experiences to provide the best solutions for managing costs and delivering projects within budget.

CREATE

INNOVATE

NAVIGATE

Organizations that consistently relied upon information produced by their project controls team to inform decision-making found that they were 4x more likely to deliver predictable project outcomes and 8x more like to meet all project time, cost and quality objectives. LogiKal 2018 PC Survey Report

Organizations that place low importance on project controls are 1.4x more likely to use Excel to control costs and in turn see lower success rates than many of those that use dedicated cost tools. Logikal 2020 PC Survey Report

One study conducted by IPA Global indicates that while project control’s function costs range from 0.5% to 3% of the project, cost improvement from their best practices can range from 6% to 20%. Why 47% of Agile Transformations Fail

CREATE A COST MANAGEMENT FRAMEWORK Creating the right size cost management service depends on various factors, including the work’s complexity and the budget. WSP develops a cost management plan that defines how you manage, control and communicate a project’s costs. We will set up a project budget and cost management software to implement these plans and to manage and report on budget and cost data. We can customize cost management plans to fit your unique needs depending on funding and funding sources, agency requirements and the various communication levels. This includes using all levels of a cost management plan, to focus on critical items such as a project budget and change control and contingency management process.

Cost variance plan

Project budget

Cost management approach

Change-control process

Cost control and reporting process

Cost estimation

Cost control

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