A literature review on project cost management essay
This article examines the global issues and challenges facing the project cost management profession. This covers quantity, net cost, reimbursement, and point estimation professionals. PE project managers create a work breakdown structure (WBS) and identify applicable cost drivers associated with project work packages to estimate costs on construction projects. to prevent cost overruns in the project. This article aims to provide a basis for improving the performance of cost estimation. A literature review is an overview of the scientific knowledge on a subject. Our guide to examples, videos and templates can help you write yours. According to Yismalet and Patel 2018, cost management is the process of controlling expenditure on a construction project from its inception to its completion stages. The study presents the limitations, disadvantages and shortcomings of each project's cost management functions as they relate to current practices of domestic contractors, literature review is a cursory literature review, which is usually an important part of the introduction of a research paper. The literature review can be defined as “the process of analyzing, summarizing, organizing and presenting new conclusions from the result of a technical investigation based on published scientific articles”. The study examines the literature on Customer Relationship Management CRM, with a particular emphasis on the effect of CRM on customer satisfaction and customer loyalty. According to Albtoush, AMF et al. and Jongo, JS et al. 2, 10 they explained that the most influential factors affecting cost management in the construction industry are competence. 603. The Project Cost Plan contains the planning of the costs to be incurred during the project and the associated estimates. These are the costs expected to be incurred as a result of the completion of project activities. The activity schedule and the resource plan are included in the cost plan and are therefore drawn up afterwards,