Cost Management Method with Value Engineering

2012 ◽  
Vol 433-440 ◽  
pp. 2114-2119
Author(s):  
Xiao Yong Li ◽  
Kang Xu ◽  
Li Jun Cao ◽  
Si Yuan Wang
Keyword(s):  
Cost Control ◽  
Cost Management ◽  
Control Process ◽  
Core Competency ◽  
Current Theory ◽  
Economic Benefits ◽  
Theory And Practice ◽  
Value Engineering ◽  
Target Costing ◽  
The Cost

The use of value engineering in China has grown significantly in the last twenty years. With keen competition in construction market, the cost control is the key measure to increase the economic benefits in the company and enhance the core competency of enterprises. This paper makes a holistic appraisal of value engineering as used in Chinese construction industry by investigating current theory and practice. It evaluates value engineering projects. This research suggests a methodology for the cost control process in construction enterprise, aiming at the correct systematic approach of Value Engineering and target-costing in cost management. The value engineering and target-costing are complementary processes. This proposed approach was validated in a case study, aiming at improved product cost, functionality and quality accomplishment, in accordance with customer needs and the company strategy.

scholarly journals Discussion on Design Control and Management of Construction Cost

2020 ◽  
Vol 2 (1) ◽  
pp. 13
Author(s):  
Mengli Li
Keyword(s):  
Construction Industry ◽  
Cost Control ◽  
Cost Management ◽  
Construction Project ◽  
Construction Cost ◽  
Economic Benefits ◽  
Management Measures ◽  
Pillar Industry ◽  
Control And Management ◽  
The Cost

<p>As a pillar industry in China, the construction industry is developing rapidly at this stage. In order to better promote the development of the construction industry, it is necessary to reasonably ensure the economic benefits of the project and do a good job in the cost management of the project. Based on this, this paper analyzes the construction cost control and management measures, aiming to take effective measures to control the construction cost and promote the better development of the construction project.</p>

ACCOUNTING INNOVATIONS: THE IMPLICATIONS OF A FIRM'S RESPONSE TO POST CIVIL WAR MARKET DISRUPTIONS

1994 ◽  
Vol 21 (2) ◽  
pp. 41-84 ◽  
Author(s):  
Rodney R. Michael ◽  
Larry D. Lankton
Keyword(s):  
Civil War ◽  
Social Structure ◽  
Cost Control ◽  
Cost Management ◽  
Control Process ◽  
Internal Accounting ◽  
The Cost

This study addresses the nature of accounting innovations within the context of the Quincy Mining Company's response to the disruption of the domestic copper market following the Civil War. Primary documentation is used to first define the firm's cost management activities, then to define the characteristics of the firm's internal accounting practices that contributed to these activities. It is argued that, although accounting was a participant in the cost control process, it was a paternalistic social structure that provided the impetus for the firm's struggle to remain profitable.

Study on the Relationships of the Construction Technology and the Cost Management Based on Enterprise Quota

2014 ◽  
Vol 543-547 ◽  
pp. 4040-4043
Author(s):  
Wen Zhang ◽  
Li Juan Zhang
Keyword(s):  
Cost Management ◽  
Value Engineering ◽  
Construction Technology ◽  
Project Cost ◽  
The Cost ◽  
The Impact

Enterprise quota is the foundation of project cost management. With the appearance of advanced construction technology, enterprise quota should be constantly updated and improved, so as to improve the level of enterprise cost management. This paper studies the impact of construction technology on cost management based on enterprise quota,and then demonstrated by the Value Engineering. From that, we know the advanced construction technology can help enterprise save the cost and improve the economical benefits.

Talking about the Project Cost Management

2011 ◽  
Vol 71-78 ◽  
pp. 4596-4599
Author(s):  
Bao Xia Cui ◽  
Aai Lin Zhang
Keyword(s):  
Basic Concept ◽  
Cost Control ◽  
Control Method ◽  
Cost Management ◽  
Focal Point ◽  
Project Cost ◽  
The Cost

This paper mainly analyze the cost management from basic concept, cost control method in construction and principal in cost management. The control focal point of the cost management is emphasized in every stage.

scholarly journals Modeling the Design Team as a Temporary Management Structure: Reality versus Theory

2012 ◽  
Vol 7 (1) ◽  
pp. 19-28
Author(s):  
Kathy Michell ◽  
Paul Bowen ◽  
Keith Cattell
Keyword(s):  
Management System ◽  
Cost Management ◽  
Soft Systems Methodology ◽  
Theory And Practice ◽  
Design Team ◽  
Systems Methodology ◽  
Soft Systems ◽  
Management Structure ◽  
Cost Management System ◽  
The Cost

The focus of the cost management literature is almost exclusively on technical issues, with scant attention to its social, political and organisational dimensions. In this paper the authors document research examining the design team as a temporary management structure, with emphasis on the efficacy of the cost management system as a vehicle for attaining client objectives with respect to time, cost and quality. Soft systems methodology is used to explore the perceptions of stakeholders to the cost management system, thus developing conceptual models of the theory and practice of cost management. Significant differences were found to exist between the perceptions of individual stakeholders concerning design team participants, participants’ roles, and the very purpose of the cost management system. Recommendations are made for structural, attitudinal and procedural changes to the cost management system in order to facilitate its effective functioning in the achievement of the client’s needs and objectives.

COMPARISON OF OWNER AND CONTRACTOR PERSPECTIVES IN ESTABLISHING COST CONTROL STRUCTURE

2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Ruveyda Komurlu ◽  
Akin Er
Keyword(s):  
Control System ◽  
Control Systems ◽  
Oil And Gas ◽  
Cost Control ◽  
Control Structure ◽  
Control Function ◽  
Cost Management ◽  
Project Control ◽  
The Cost

Cost control is a part of cost management which is carried out by the project owner and the contractor throughout a project. However, the structures of the control function developed by each party generally differ since the purpose of the function and the level of the structure are not exactly the same. Contractors have several advantages while building a cost control system such as more detailed information about the project, more background, more dedicated personnel, specifically developed software etc. Therefore, contractors have a broader vision on the issue. Owners need to utilize cost control systems not only for common reasons but also due to some specific necessities. Unlike contractors, owners have to capitalize projects just before they put their investments into operation. This paper intends to focus the necessities prioritized by the owners and contractors on the issue. A comparison will be made to distinguish the differences between the cost perspectives of project owners and contractors. An assessment will be done of the matters that owners pay attention while establishing a cost control structure in light of the experiences practiced in oil and gas projects. Thus, the important points which should be better to consider by the owners' project control teams will be advised.

Management Research on the Construction Enterprise Project Cost

2013 ◽  
Vol 357-360 ◽  
pp. 2193-2196
Author(s):  
Hai Yan Zhang ◽  
Jin Wei Zhao
Keyword(s):  
Control Process ◽  
Economic Benefits ◽  
Construction Process ◽  
Management Research ◽  
Building Projects ◽  
Construction Enterprise ◽  
Construction Enterprises ◽  
Building Process ◽  
Planning And Construction ◽  
The Cost

Currently, in our many construction building process, due to the volatility of the market, the complexity of the construction, and many other factors, make the cost is difficult to precisely control a certain influence on the economic efficiency of enterprises, is not conducive to the construction enterprises cansustainable development. In this paper, in order to better improve the economic benefits of construction enterprises, and to promote the better development of the field of building projects in China, analysis of the construction process of the project, the factors that affect the cost of the project and further explore how to effectively do the costs of planning and construction cost control process.

scholarly journals Research on the Fine Cost Management of Port Engineering Project Based on BIM

2020 ◽  
Vol 4 (2) ◽  
pp. 42
Author(s):  
Jian Yin ◽  
Huiyun Zhou ◽  
Jing Yang
Keyword(s):  
Cost Management ◽  
Construction Cost ◽  
Economic Benefits ◽  
Construction Process ◽  
Engineering Project ◽  
Whole Process ◽  
Project Construction ◽  
The Cost ◽  
Port Engineering ◽  
Very High

<p>With the development of economic globalization, the scale of international trade continues to expand. Ports are very important for cross regional transactions. However, the construction cost is also very high in the actual construction process because port engineering is a relatively large project. Cost management can effectively control the cost and improve the economic benefits of port engineering project construction. The traditional cost management model has been unable to meet the needs because the construction cost control is a dynamic process and runs through the whole process of the project. BIM information technology is a technology with engineering digital model as the core. Based on BIM, this article studies the refined cost management of port engineering project, and aims to provide some help for relevant practitioners.</p>

scholarly journals Anggaran Biaya Sebagai Alat Pengendalian Manajemen Pada PT Asuransi Jiwasraya (Persero) Bogor

2013 ◽  
Vol 1 (3) ◽  
pp. 193-202
Author(s):  
Dicky Alfian ◽  
Iriyadi Iriyadi ◽  
Udi Pramiudi
Keyword(s):  
Cost Control ◽  
Planning Process ◽  
Control Process ◽  
Management Control ◽  
Budget Planning ◽  
Control Processes ◽  
Good Management ◽  
Cost Planning ◽  
The Cost

One way to define the company's goals is to create a plan, one that cost planning is essential inthe operation of the company activity. Preparation, control, until the realization of the budget is animportant factor in the control of management. Good management control will be reflected from asound budget planning from start budgeting to realization in which the control of the use of thebudget includes the cost of the company. The purpose of this study was to determine the function ofa planning application to the realization anggarabn budget costs play an important role in themanagement control process in order to achieve the goals set previously by the company. Theresearch was conducted by the author. PT. Asuransi Jiwasraya (Persero) Bogor is located atPajajaran Street 45 Bogor. The results of this study show that the variance resulting from budgetplanning to the realization greatly affects the level of management control of the company. In otherwords, the efficiency of which is determined by the value of variance budget planning process aswell as cost control processes that will better demonstrate the value of the level of managementcontrol of the company.

Internal cost control of health resort institutions: Methodological aspects

2021 ◽  
Vol 22 (7) ◽  
pp. 804-825
Author(s):  
Margarita F. SAFONOVA ◽  
Evgeniya S. VYALAYA
Keyword(s):  
Cost Control ◽  
Point Of View ◽  
Theory And Practice ◽  
Production Costs ◽  
Continuous Control ◽  
Health Resort ◽  
Food Treatment ◽  
Tax Management ◽  
Analysis And Synthesis ◽  
The Cost

Subject. This article analyzes the activities of therapeutic resort and spa facilities from the point of view of the social importance of the population's health. It discusses the problems of improving the system of cost control and calculating the cost of a unit of services provided by these facilities to obtain reliable information and optimize the costs. Objectives. Based on the analysis of statistical information and scientific sources, the article aims to form an opinion on the state of the health resort complex, the structure of costs, and their share by items and elements in the total amount of production costs, and develop a methodology for their continuous control, taking into account the industry specifics to minimize risks. Methods. For the study, we used analysis and synthesis, induction and deduction, literature review, and the calculation, graphical, accounting and analytical methods. Results. The article finds that the service provided by the health resort industry organizations is complex (accommodation, food, treatment) and therefore, it has a multi-element cost structure, which entails certain financial, tax, management risks that need continuous monitoring. Conclusions and Relevance. The proposed methodology helps to continuously control the costs of a multi-component service provided by economic entities of the health resort sector, optimizing them taking into account the industry specifics. This makes it possible to make this service more accessible to all segments of the population. The results of the study can be used in the theory and practice of internal cost control and the formation of the cost of a unit of services provided by the health resort institutions, as well as for further scientific developments and practical application.

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