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Agenda: Identify cost centres to be used Expense and income categorization Cost allocation and calculation types Total cost, total income and net cash flow diagrams Assign cost information as payment schedule Calculate earned-value analysis Cost management in construction projects has an important role in performance tracking, budgeted vs. actual comparisons, cost variances and ratio calculations such as cost performance index as well as earned-value analysis. Although cost control is more into accounting and finance, cost management that is integrated with project schedules and resources also provides a comprehensive understanding to the project controls professionals. From the initial stages of any project, the project budget evolves from agreed cost estimates. The cost information is often developed across the project schedule to represent when the costs will be incurred. Those cost estimation is then turn into cost baseline where the performance can be tracked. Accordingly, project managers can have a chance to balance the funds approved in a specific budget period with the planned work. Also, cost management that is integrated with the schedule reflects any possible funding problems that may affect the planned works to be started. In those situations, project plan should be re-scheduled to meet those funding limitations. Asta Powerproject is a powerful, easy-to-use planning and scheduling tool that is specifically design for construction and engineering projects. It is fully scalable to all kind of project and portfolio sizes with a rich variaty of project management applications such as resource and cost management, earne-value analysis, schedule risk analysis and 4D planning and project controls. kozarda.com