7 Significant Factors Causing Project Cost Overruns in the Construction Industry

One of the biggest challenges faced by project organizations is cost overrun, as statistics show that the larger the project, the higher the probability for overrun. There are often a number of reasons factoring in to this, although the majority of project budgets that experience overrun are due to poor planning, combined with a lack of visibility in cost …

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Construction Pay Application – Template & Easy Billing Guide for Project Managers

  Construction payment applications are simple, everyday project management tools. In essence, construction payment applications are documents that state the contracted schedule of values, frequency of submitting monthly work progress, and previous approved payments, and are ultimately  requests to the contacting party to accept the work and provide payment. There are a number of formats …

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Construction Project Management, Techniques and Tools

Would you like to know more about construction project management and tools? If so, then this article is for you. Let’s go through the definition of project management and the tools you need to achieve a solid success rate in the construction industry. How do we define project management? First of all, let’s start with …

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Practical Project Accounting Guide for Managing Large Scale Projects

Project accounting is a specialized form of accounting that corresponds to the ever-evolving needs of project delivery. It helps adequately track, report and analyze financial results and implications. In other words, project accounting is simply accounting on a project-by-project basis, whose responsibility falls on the project manager to track all financial components of any project …

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