Literature survey on project cost management

The authors tried to study the processes used by various organisations to manage the distributed projects efficiently and effectively, and maximise the benefits of onshore-offshore delivery. The appraisals have to be done in timely manner, risks and issues highlighted and thus controlling the projects efficiently.

PMs would be able to define models to define communications channels, means, processes, and manage the objectives, requirements, and expectations effectively and efficiently. Various objects could be reused in different projects for better control. Some PMs have also tailored the standard methodologies to suit their needs.

The study had been done at various levels of project, organisation and environments to get an insight into the approach-avoidance decision of escalation or de-escalation and the stakeholders response to the same. This paper studied the effects of leadership quality on the success of different type of projects.

This research paper explained that the Distributed Work is basically a number of different work provisions. The studies also showed that decision tree analysis, fishbone or cause-effect diagrams could be used effectively to manage quality, risks and deliver successful projects.

Use of alternative statistical techniques and models such as Fuzzy Logic, NPV, approach-avoidance theory, had been explored in the project management area [].

Quantitatively Managed to Level 5: The authors studied two types of structures for offshore teams and highlighted the problems faced by managers for changing the team structure and organisation model. The research highlighted that organisation adhere to one methodology due to cost involved, risks associated with other, and training required for its staff.

Various maturity models have been developed in the area of project management []. Authors had used a process model to identify conditions, critical incidents, sequence of actions, and consequences over the life cycle of the project.

Knowledge intensive firms differ from other types of organisations through the organisation s massive reliance on the intellectual skills of its employees to carry out its core functions. PM 2 model provides a well-structured model for evaluating project management maturity level of organisations.

The integrated framework had been created for distributed projects based on various Project parameters and requirements of global environment.

Projects are influenced by both internal and external factors and require various communication channels and techniques to reduce the gap and deliver project effectively and efficiently. Study highlighted that client methodology could be different to the service provider and hence would create new challenges for project managers.

The paper is based on a literature review of global project cost management issues and research undertaken through professional cost management associations that include the International Cost Engineering Council, the Pacific Association of Quantity Surveyors, the African Association of Quantity Surveyors, the International Project Management Association, the Association for the Advancement of Cost Engineering, the China Engineering Cost Association and the Royal Institution of Chartered Surveyors.

The findings of the survey showed that project management assets give a competitive advantage to the organisations.

Literature Survey of previous research work in Models and Methodologies in Project Management

The framework assigns each agent to manage a small and manageable task, hence reducing complexity. The Planning process is used by four of the other processes. The study suggested that the fuzzy logic would be quite useful in determining the activity, its significance along the critical path, and managing the risk more efficiently.

The studies have been conducted to understand the existing standard models [] and adapt them so as to manage projects in a better way. Researchers had been able to study various project management methodologies, tools, and techniques etc. The organisations that are using maturity models like CMMI are found to be in greater control of the projects since there processes are mature, well documented and provide good planning.

This would in turn lead to better quality products. These KPAs may have to be improved continuously in order to respond to the changes.

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The authors had tried to study the growth of teams in terms of expertise, communication skills, economic impact and working conditions. This research paper discussed the issues of teaching project management as part of system analysis.

Data has been collected and analysed using various techniques in order to understand the effectiveness of diverse project management methodologies. PMI, USA provided a very useful maturity model for organisations OPM3 to reflect their maturity with the best practices achieved within the project, portfolio, and programme domains.

This research paper proposed a maturity model which has thee maturity levels with continuous improvement group of Key Process Areas KPAs. The authors found that instant messaging is a good substitute tool for face to face communication and is good tool for wider and enterprise wide information sharing.

Effects of Leadership and Management Qualities of Project manager Various actions can be categorised into critical to low priority. SUMMARY Project management is a very complex field and encompasses technical skills along with man management skills to manage stakeholder expectations.

They surveyed organisations based on 42 components of maturity. The research identifies the need for global recognition of the profession and the development of global professional standards and certification programs.

This study focused on the use of Fuzzy logic for critical path analysis and other PM activities. The new framework proposed extending the benefits of polarity management to triple constraints of PMBOK.COST-COMPETITIVE CONSTRUCTION MANAGEMENT: A REVIEW OF CORPS OF ENGINEERS annual private-sector CM cost survey conducted by the Construction Management Association of America (CMAA) for the cost comparisons.

Cost management Contract/project administration Design-and-bid phase Project management. II. LITERATURE SURVEY The term "cost" is ambiguous since it has several different meanings to different persons.

To a financial or cost project management, Administration etc. Thus, from the above definitions and reviews of cost and management, "the concept of cost management" in this Project Cost Control in the Nigerian Construction. We first search the literature to identify current practices and challenges that we use in the development of our survey questions.

Our surveys, in general, are designed IT Project Portfolio Cost Management Source: IT Project Portfolio Cost. Project Cost Management – Global Issues and Challenges The paper is based on a literature review of global project cost management issues and research undertaken through professional cost management associations that include the International Cost Engineering Council, the Pacific Association of Quantity Surveyors, the African Association.

Developing a Critical Literature Review for Project Management Research; Share. Rating. 0. No votes yet. Rate. Developing a Critical Literature Review for Project Management Research. Controlling Project Costs.

From Project Management in Construction. The objective of literature survey in the project management subject is to analyze and identify the previous work on project cost management in order to produce a summary of the knowledge on this topic.

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Literature survey on project cost management
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