Project Finance Flashcards
1
Q
What is a cost report?
What does it include?
A
A report against budgeted values and cost check on a project.
Contract Sum
Payments to date
Cashflow
Claims
Variations
Anticipated FA
PS reconciliation
2
Q
How can you control costs to keep within budget?
A
Competition in tendering.
Change Control
VE
Regular reporting
3
Q
What post contract control procedures do you do?
A
Risk and Contingency management
Change control procedures
Regular cost reporting
Anticipated FA
Regular communication
4
Q
A project you created a cost report?
How did you approach?
A
Haringey Hubs
Format of report
Frequency
Distribution List
Method of presentation
(what’s included)
PS change
5
Q
Benefits of cost reporting?
A
Make client aware of actual cost
Control cost
Cashflow - behind
