工程造价专业外文文献翻译中英文对照.docx

工程造价专业外文文献翻译中英文对照.docx

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工程造价专业外文文献翻译中英文对照

外文文献:

ProjectCostControl:

TheWayitWorks

ByR。

MaxWideman

Inarecentconsultingassignmentwerealizedthattherewassomelackofunderstandingofthewholesystemofprojectcostcontrol，howitissetupandapplied.Sowedecidedtowriteupadescriptionofhowitworks。

Projectcostcontrolisnotthatdifficulttofollowintheory。

Firstyouestablishasetofreferencebaselines.Then，asworkprogresses,youmonitorthework，analyzethefindings，forecasttheendresultsandcomparethosewiththereferencebaselines。

Iftheendresultsarenotsatisfactorythenyoumakeadjustmentsasnecessarytotheworkinprogress，andrepeatthecycleatsuitableintervals。

Iftheendresultsgetreallyoutoflinewiththebaselineplan，youmayhavetochangetheplan。

Morelikely，therewillbe（orhavebeen）scopechangesthatchangethereferencebaselineswhichmeansthateverytimethathappensyouhavetochangethebaselineplananyway.

Butprojectcostcontrolisalotmoredifficulttodoinpractice，asisevidencedbythenumberofprojectsthatfailtocontaincosts.Italsoinvolvesasignificantamountofwork，asweshallsee，andwemightaswellstartatthebeginning.Soletusfollowthethreadofprojectcostcontrolthroughtheentireprojectlifespan.

And,whileweareatit,wewilltaketheopportunitytopointouttheproperplacesforseveralsignificantdocuments。

TheseincludetheBusinessCase，theRequestfor（acapital）Appropriation（forexecution）,WorkPackagesandtheWorkBreakdownStructure，theProjectCharter（orBrief）,theProjectBudgetorCostPlan，EarnedValueandtheCostBaseline.Allofthesecontributetotheorganization’sabilitytoeffectivelycontrolprojectcosts。

Footnote

IamindebtedtomyfriendQuentinFleming,theguruofEarnedValue，forcheckingandcorrectingmyworkonthistopic.

TheBusinessCaseandApplicationfor（execution）Funding

Itisimportanttonotethatprojectcostcontrolismosteffectivewhentheexecutivemanagementresponsiblehasagoodunderstandingofhowprojectsshouldunfoldthroughtheprojectlifespan。

Thismeansthattheyexercisetheirresponsibilitiesatthekeydecisionpointsbetweenthemajorphases.Theymustalsorecognizetheimportanceofprojectriskmanagementforidentifyingandplanningtoheadoffatleastthemostobviouspotentialriskevents。

Intheproject'sConceptPhase

•Everyprojectstartswithsomeoneidentifyinganopportunityorneed。

Thatisusuallysomeoneofimportanceorinfluence,iftheprojectistoproceed，andthatpersonoftenbecomestheproject’ssponsor。

•Todeterminethesuitabilityofthepotentialproject,mostorganizationscallforthepreparationofa”BusinessCase"andits"OrderofMagnitude"costtojustifythevalueoftheprojectsothatit

canbecomparedwithalltheothercompetingprojects.ThiseffortisconductedintheConceptPhaseoftheprojectandisdoneasapartoftheorganization’smanagementoftheentireprojectportfolio。

•ThecostoftheworkofpreparingtheBusinessCaseisusuallycoveredbycorporatemanagementoverhead，butitmaybecarriedforwardasanaccountingcosttotheeventualproject。

Nodoubtbecausethiswillprovideataxbenefittotheorganization.Theproblemis,howdoyouthenaccountforalltheprojectsthatarenotsocarriedforward?

•IftheBusinesscasehassufficientmerit，approvalwillbegiventoproceedtoaDevelopmentandDefinitionphase.

Intheproject'sDevelopmentorDefinitionPhase

•TheobjectiveoftheDevelopmentPhaseistoestablishagoodunderstandingoftheworkinvolvedtoproducetherequiredproduct，estimatethecostandseekcapitalfundingfortheactualexecutionoftheproject。

•Inaformalizedsetting,especiallywherebigprojectsareinvolved,thisapplicationforfundingisoftenreferredtoasaRequestfor（acapital）Appropriation（RFA）orCapitalAppropriationRequest（CAR）。

•Thisrequiresthecollectionofmoredetailedrequirementsanddatatoestablishwhatworkneeds

tobedonetoproducetherequiredproductor”deliverable”.Fromthisinformation,aplanispreparedinsufficientdetailtogiveadequateconfidenceinadollarfiguretobeincludedintherequest。

•Inalessformalizedsetting，everyonejusttriestomuddlethrough.

WorkPackagesandtheWBS

TheProjectManagementPlan，ProjectBrieforProjectCharter

•Ifthedeliverableconsistsofanumberofdifferentelements,theseareidentifiedandassembledintoWorkPackages（WPs）andpresentedintheformofaWorkBreakdownStructure（WBS）.

•EachWPinvolvesasetofactivities,the”work”thatisplannedandscheduledasapartoftheProjectManagementPlan。

Note,however，thattheplanningwillstillbeatarelativelyhighlevel,

andmoredetailedplanningwillbenecessaryduringexecutioniftheprojectisgiventhegoahead。

•ThisProjectManagementPlan,bytheway，shouldbecomethe"bible”fortheexecutionphaseoftheprojectandissometimesreferredtoasthe”ProjectBrief"orthe”ProjectCharter"。

•ThecostofdoingthevariousactivitiesisthenestimatedandtheseestimatedcostsareaggregatedtodeterminetheestimatedcostoftheWP。

Thisapproachisknownas"detailedestimating"or"bottomupestimating”。

Thereareotherapproachestoestimatingthatwe'llcometoinaminute.Eitherway,theresultisanestimatedcostofthetotalworkoftheproject.

Note：

thatprojectriskmanagementplanningisanimportantpartofthisexercise.Thisshouldexaminetheproject’sassumptionsandenvironmentalconditionstoidentifyanyweaknessesintheplanthusfar,andidentifythosepotentialriskeventsthatwarrantattentionformitigation.Thismighttaketheformofspecificcontingencyplanning,and/orthesettingasideofprudentfundingreserves。

Requestforcapital

Convertingtheestimate

•However，anestimateoftheworkaloneisnotsufficientforacapitalrequest。

Toarriveatacapitalrequestsomeconversionisnecessary,forexample,byaddingprudentallowancessuchas

overheads，acontingencyallowancetocovernormalprojectrisksandmanagementreservestocoverunknownsandpossiblescopechanges.

•Inaddition,itmaybenecessarytoconverttheestimatingdataintoafinancialaccountingformat

thatsatisfiesthecorporateorsponsor'sformatforpurposesofcomparisonwithotherprojectsandconsequentfundingapproval.

•Inpracticeallthedataforthetypeof”bottomup”approachjustdescribedmaynotbeavailable.

Inthiscasealternativeestimatingapproachesareadoptedthatprovidevariousdegreesofreliabilityina"topdown"fashion。

Forexample:

OrderofMagnitudeestimate–a”ballpark”estimate,usuallyreservedfortheconceptphaseonly

Analogousestimate–anestimatebasedonprevioussimilarprojects

Parametricestimate–anestimatebasedonstatisticalrelationshipsinhistoricaldata

•Whicheverapproachisadopted，hopefullythesumthusarrivedatwillbeapprovedinfullandprovestobesatisfactory!

ThisisthetriggertostarttheExecutionPhaseoftheproject

Note:

Somemanagementswillapprovesomelessersuminthemistakenbeliefthatthiswillhelpeveryoneto”sharpentheirpencils”and"worksmarter"forthebenefitoftheorganization.Thisisamistakenbeliefbecausemanagementhasfailedtounderstandthenatureofuncertaintyandriskinprojectwork。

Consequently,theeffectismorelikelytoresultin"cornercutting"withanadverseeffectonproductquality,orreducedproductscopeorfunctionality.Thisoftenleadstoa”game”inwhichestimatesareinflatedsothatmanagementcanadjustthemdownwards.Buttobefair，managementisalsowellawarethatifmoneyisoverallocated,itwillgetspentanyway.Thesmartthingformanagementstodoistosetasidecontingentreservefunds，varyingwiththeriskinessoftheproject，andkeepthatmoneyundercarefulcontrol。

Ownershipofapprovedcapital

•IfseniormanagementapprovestheRFAaspresented，thesuminquestionbecomestheresponsibilityofthedesignatedprojectsponsor。

However,iftheapprovedcapitalrequestincludesallowancessuchasa"ManagementReserve",thismayormaynotbepassedontotheproject’ssponsor，dependingonthepoliciesoftheorganization。

•FortheapprovedRFA，theprojectsponsorwill,inturn,furtherdelegateexpenditureauthoritytotheproject’sprojectmanagerandwilllikelynotincludeanyoftheallowances。

Anexceptionmightbethecontingencyallowancestocoverthenormalvariationsinworkperformance.

•Thenetsumthusarrivedatconstitutestheprojectmanager'sApprovedProjectBudget。

Note：

IfmanagementdoesnotapprovetheRFA，youshouldnotconsiderthisaprojectfailure。

Eitherthegoals，objectives,justificationandplanningneedrethinkingtoincreasethevalueoftheproject’sdeliverables，orseniormanagementsimplyhashigherprioritieselsewherefortheavailableresourcesandfunding.

TheProject’sExecutionPhase

Theprojectmanager’sProjectBudgetresponsibility

•OncethisApprovedProjectBudgetisreleasedtotheprojectmanager,areverseprocessmusttakeplacetoconvertitintoaworkingcontroldocument。

Thatis，themoneyavailablemustbedividedamongstthevariousWBSWPsthat，bytheway,haveprobablybynowbeenupgraded！

ThisresultsinaprojectexecutionControlBudgetorProjectBaselineBudget，orsimply,theProjectBudget.InsomeareasofprojectmanagementapplicationitisreferredtoasaProjectCostPlan。

•Onalargeprojectwheredifferentcorporateproductiondivisionsareinvolved,theremaybeafurtherintermediatestepofcreating"ControlAccounts"fortheseparatedivisions，sothateachdivisionsubdividestheirallocatedmoneyintotheirownWBSWPs.

•Observethat，sincethet