Absal Paul recognises the importance of robust cost management on every project and we place this to the forefront of a successful project outcome with all our clients. To this end, we employ defined cost management methodologies to ensure our clients are protected from any unnecessary escalations in agreed project costs.
Our early involvement in the pre-construction phase, where we seek to work closely with the full design team, enables us to review the cost plan, carry out value engineering and develop a set of procedures for managing and controlling costs throughout the life of the project. During the construction phase itself, cost control measures include:
- review of subcontract tender packages prior to them being issued to subcontractors to ensure substantial compliance with the cost plan
- carrying out value engineering exercises with sub-contractors prior to appointment
- operating a change order system for any variation
- early identification and registration of risk items
- holding of regular design review/value engineering workshops as the project proceeds
- holding a weekly / monthly cost review meeting
Causeway Project Accounting System
Causeway’s Corporate Project Accounting (CPA) provides accurate cost, value and performance management of projects along with enhanced financial management at enterprise level. CPA integrates the estimating and financial disciplines withinour business providing detailed analysis of project performance. It combines accounting and commercial management functionality, providing the tools to optimise cash flow, manage project performance, achieve transparency of costs and identify process efficiencies.
Causeway is designed exclusively for the Construction industry. It provides tools to assist in planning, monitoring and executing construction projects while maintaining strict financial controls including the production of reports that help track costs and value throughout the life of a project, providing accurate project performance information required by the project management team and our clients.