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Job costing is further based on the integrated sections which includes varied costs including the per unit or per batch cost of raw materials, labor rates and other taxes and factors which bring the additional cost to it.
Now typing the factors of cost and summing the resultant values is a bit complex and slow by procedure job which intimates least efficient policy these days.
These technologies grow more efficient degrees of calculations to enhance the sole procedure of costing and evading out any factor which incurs unnecessary burden on the job line. Each section is fed with the diligent amount and deploying the final formula, the result cost with its pros and cones are mention below which may aware the concerned body to avoid any unusual circumstances. Though the Cost Management Plan is a required part of Project Management Plan, unlike time and scope management, it is not listed as a part of formally defined cost management process. Maximum cap for cost expenditure allows project manager and members to allow variation for cost. Life cycle costing is taking into consideration of the whole life of the product, and not just the cost of the project. For example, a product costs $50,000 which has a very low maintenance cost ($5000) over its life period. Value analysis focuses on decreasing cost of the project without any degradation in scope and performance levels.
Any risk related to cost such as procurement risk, cost management risk is termed as cost risk. Variable cost: As understood by the name, these costs vary with the amount of work being done.
Direct Costs: The costs that can be directly attributed to the work done in the project is considered as Direct Costs. Indirect Costs: The overhead items or costs incurred that cannot be apportioned to a specific project or activity and can be used for multiple projects are termed as Indirect costs. Scope Baseline: Scope baseline includes the project scope statement, WBS and WBS dictionary.
Human Resources Plan: The system to reward project members, rates of labor required and number of resources (individuals) required for the project and their cost are arrived at by the human resource plan.
Risk Register: Risk is an effective contributor to reduce time and money associated with the project. Costs can be estimated using the methods that we have already learned in the Time Management Chapter i.e.
Project management software can help in speeding up the calculations required to estimate costs. Resources can be internal human resources, vendors, consultants, suppliers, external technicians, among others.
Reserve analysis involves identification of activities which have significant risks and determination of the total efforts (time and money) required to manage these risks if they occur. ROUGH ORDER OF MAGNITUDE (ROM) ESTIMATE: This estimate is generally made during project initiation phase.
In the process, the project manager determines the amount of funds the organization needs to have available for the project by calculating the total cost of the project. A project manager MUST perform risk management activities and include reserves (contingency and management) when estimating the total cost of the project.
Comparison of cost baseline and cost budget is done by the project manager to parametric estimates, expert judgment or historical records for a sanity check.
Control costs process is focused on controlling cost of the project as described in any other knowledge area in the control section. Use of cost management plan; a cost management plan helps the project manager plan for controlling cost of the project.
Use of Organizational process assets; Organization policies, procedures, tools or reporting formats related to controlling costs can be used.
Measure costs; another important factor that the project manager must be completely involved in throughout the lifecycle of the project is measuring the project cost for variation from the baseline. The performance measurement baseline is a combination of scope, schedule and cost baselines. Costs incurred to receive the project management education needed in order to meet the eligibility criteria for PMP.
While most of these costs will vary, the PMP exam fees are fixed by the PMI, and must be paid by everybody who registers for the exam. The fees differ according to whether you are a member of PMI or not, and whether you will be undergoing Computer-Based Testing or Paper-Based Testing.
Creating and delivering a world-class transport system that supports Abu Dhabi's broader social and economic ambitions, and meets the Emirate's needs for the future.
Sector W38 is adjacent to the previous sector and is located between 5th Street to the north and Zayed The First street to the south, and 6th Street to the east, and Khalidiya Police Station to the west, managing 334 spaces.
Parking management services will apply in these areas from 8AM to 10PM, Saturday to Thursday. The DoT also announces that Resident Parking Permits will be provided by Mawaqif Customer Service Centers to residents in the newly-assigned areas, allowing them to park in available standard parking spaces in the vicinity of their residence. To apply for a parking permit, residents must submit copies of their national ID, passport with valid residency visa; leasing contract or residency ownership proof, last water & electricity bill, municipal registered ternary contracts, proof of vehicle ownership and relationship of the vehicle owner, if different from the tenancy contract. All Customer Service Centers are closed on public holidays, except for the Customer Service Center located in the Central Market. The DoT also announced that Resident Parking Permits will be provided by Mawaqif Customer Service Centers to residents in the newly-assigned areas, allowing them to park in available standard parking spaces in the vicinity of their residence.
To apply for a parking permit, residents must submit copies of their passport with valid residency visa; leasing contract or residency ownership proof, last water and electricity bill, tenancy contracts, proof of vehicle ownership and relationship of the vehicle owner, if different from the tenancy contract. All Customer Service Centres are closed on public holidays, except for the Customer Service Centre located in the Central Market. Abu Dhabi on Wednesday, May 23, 2012 - The Department of Transport (DoT) announced today the inauguration of a state-of-the-art service and maintenance center operated by Eastern Motors (EM), the Mercedes-Benz dealership in Al Ain, and a business unit of Alfahim Group. The inaugurated DoT public bus maintenance and service center comes exclusively to service Al Ain’s 100 public transport Mercedes-Benz buses. The DoT public buses in Al Ain operates 18-hours-a-day, and transports more than 25,000 passengers daily through Al Ain City areas and suburbs.
All Customer Service Centers are closed on public holidays, except for the Customer Service Centre located in the Central Market. The Department of Transport (DoT) in Abu Dhabi announced today the unification of working hours in its Mawaqif Customer Care Centers in Abu Dhabi starting from today.
The Department of Transport (DoT) in Abu Dhabi announced today the implementation of Mawaqif parking management in two new sectors in the Tourist Club Area on Al Mina Road. Sector E14 is located in the Tourist Club Area between Al Mina Road from the north, Zayed the Second Street to the south, and Al Ferdous Street from the west providing 1362 parking spaces. Parking management servicing will apply in these areas from 8 AM to 10 PM, Saturday to Thursday. To apply for a parking permit, residents must submit copies of their Identity cards, passports with valid residency visa; leasing contract or residency ownership proof, last water & electricity bill, Municipal registered ternary contracts, proof of vehicle ownership and relationship of the vehicle owner, if different from the tenancy contract.



The Department of Transport (DoT) in Abu Dhabi announced today the upcoming implementation of Mawaqif parking management in three new sectors in Al Jazira and Abu Dhabi Police Area.
Sector E22 is locatedin the Saada Area between the Civil Defense to the north and Al Jazira Street from the south, East Road (Muroor Road) from the east and Sheikh Rashid Bin Saeed Al Maktoom (Airport Road) to the west, providing 482 parking spaces. The Department of Transport in Abu Dhabi announced today that it will reduce Mawaqif paid timings during the Holy month of Ramadan. Currently the Surface Transport Master Plan (STMP) in its final phase, indicates the need for establishing a high-quality, high-capacity metro rail system on approximately 131 KM, supported by tram and bus feeder services, to serve a substantial proportion of passenger trips and relieve traffic congestion on the highway network.
Finally, the Study will focus on the development of a detailed implementation schedule for the project based on the technical, economic and updated financial feasibility studies. The Department of Transport (DoT) announced today the provision of a free shuttle service dedicated to the public using public buses between a number of routes within Abu Dhabi and Sheikh Zayed Grand Mosque.
The Department of Transport (DoT) announced today the addition of new features to the parking management program, Mawaqif. He added “extending the paid parking hours until midnight will result in more efficient utilization of parking space, so it can be benefit a bigger number of Mawaqif users.
The Department of Transport (DoT) in Abu Dhabi announced today its invitation to local and international contractors to bid for the construction of the new Abu Dhabi- Dubai main road (E311).
The Department of Transport through this project aims to alleviate traffic congestion on the current main road connecting Abu Dhabi to Dubai (E11), and provide a new strategic link between the two most populated emirates in the country, as well as create new entrances to the city of Abu Dhabi, Abu Dhabi International Airport, and Yas and Saadiyat Islands. The new Abu Dhabi – Dubai main road will serve the Khalifa Port Area and the South Shamkha, Wathba and Baniyas residential areas and labour camps, and will accommodate light vehicles as well as trucks. The new main road (E311) will consist of 62 Kilometres of dual carriageway starting at the end of Emirates Road in Seih Shuoaib through Al Maha Forest and Khalifa Port Industrial Zone (B) and will join up at the Sweihan Road (E20) interchange. In addition, the construction of the main road will include a number of protective structures for service lines, especially for gas pipelines which intersect with the route of the new main road. It is expected that execution of each contract will take 30 months to be completed, from the date of the beginning of construction to the completion of the entire project by the end of 2014. Executing the project through two parallel contracts will ensure competitive pricing, reduce project risks and will expedite the completion and delivery of the project through the simultaneous construction work by two contractors. Eight hundred 30-meters-high light columns at 300 meters intervals will light the new main road. The laybys are designed for emergency use by light vehicles and heavy trucks and also serve as a patrol point for police, ambulance, and emergency vehicles. Adding to road safety features, the new main road will come with a rainwater drainage system and a fence on both sides of the main road to protect from crossing herds. The median will be equipped with a guard rail in each direction to prevent median crossings and contain vehicles to the carriageway. The new center is located at the intersection of Al Muroor Road and Al Falah Street, and opens for business from 7AM to 9PM. Residents in the areas where Mawaqif is implemented can apply for resident permits from the Customer Care Centers. To apply for a parking permit, residents must submit copies of their national ID, passport with valid residency visa; leasing contract or residency ownership proof, last water & electricity bill, Municipal registered ternary contracts, proof of vehicle ownership and relationship of the vehicle owner, ifdifferent from the tenancy contract. Our range of project management solutions, have been developed to allow our clients and owners to deliver their construction projects on-time and on-budget – allowing them to focus on what they do best, while removing the stress and uncertainty that arises with building projects. For more information on our project management service, please fill in the contact form, and we will contact you immediately.
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Therefore in the modern age of computerization and digitalization, everything is preferred formatting through computer excel software applications which are precised, accurate and faster than human mind. Following this case, there are customized job costing templates which carry the basic costing formulas and different sections based on the costing factors. The Develop Project management Plan in Integration Management involves creation of the cost management plan. Like other project management plans, even cost management plans requires proactive thinking. An alternate product is available for $38,000 however, has higher maintenance cost amounting to $50,000 over the producta€™s life.
A systematic identification of various functions, assignment of values to those functions and identifications of less costly resources and activities to be performed maintaining the performance levels is done in value analysis. This risk is not just covered in risk management and requires to be covered in all phases of the project.
It helps in allowing the project manager to know what is in-scope and what is out-of-scope. The project schedule contains the list of activities, the allocated resources and the time when work will occur.
This plan enables the project manager to keep the resources motivated to work achieving savings and still ensuring the cost of the project is controlled.
The templates provided by these records help in executing these efforts faster and quicker. The expense of the project manager, status reports, change analysis, execution, etc are included in these costs. One-point estimating, analogous estimating, parametric estimating, and three-point (PERT) estimating.
The technique of bottom-up estimating involves estimation of costs involved at each activity or work package, rolling it up into control units and then finally to the overall project estimate. These calculations could include direct, indirect, overhead, fixed cost calculations for several hundred activities.
Costs estimated during early stages of the project have lesser accuracy and the ones estimated at later stages have higher accuracy.
In this concept, the activity costs are rolled up into work package costs, work package costs are then rolled up into control account costs and control account costs are finally rolled up into project costs. If there are significant variances between the reference data and project estimates, the project manager needs to investigate and ensure that the estimates are correct.
There could be situations where the funding is not available when it is required by the project. Project manager needs to reconcile the cost baseline and cost budget with these constraints. The efforts involved in determining budget process may lead to changes in other project management documents. Prevention process involves identification the root-causes where high costs are involved and mitigating them. Earned value measures project performance against scope, schedule and cost baselines (performance measurement baseline). The standard format for the exam is Computer-Based Testing, and Paper-Based testing will only be available in certain circumstances.


The charges will be AED 3 per hour for premium parking (curbstones painted in turquoise and white) with a maximum permitted parking duration of 4 hours, and AED 2 per hour or AED 15 per day for standard parking (curbstones painted in turquoise and black). This permit is available to owners or tenants and first of kin residing with them, such as mother, father, wife, husband, children, brothers and sisters. Annual fees for the resident permits are AED 800 for the first vehicle and AED 1,200 for the second vehicle.
The new area is located between Zayed the Second Street from the north, Al Falah Street from the south, Al Salam Street from the east and Najda Street from the west. This permit is available to owners or tenants and first-of-kin residing with them, such as mother, father, wife, husband, children, brothers and sisters. Annual fees for the resident permits are AED 800 for the first vehicle and AED 1200 for the second vehicle.
The center features a state-of-the-artfacility with 40 team members and is open every day of the week and operates around-the-clock, 365 days-a-year to provide required servicing and maintenance of the DoT public bus fleet in Al Ain. With such high working demand and long operational hours, public buses need to be maintained on daily basis by the authorized Mercedes-Benz dealership.
We aim to develop an efficient and well-integrated transport system in the Emirate, and in order for us to deliver our mission, we need to work with partners who possess extensive experience in the mobility sector such as Eastern Motors and Al Fahim Group. The new area is located between Delma Street from the north, Mohamed Bin Khalifa Street from the south, Al Nahyan Military Camp from the east and Fourth Street (Al Muroor) from the west. The new area is located between Zayed the Second Street from the north, Al Falah Street from the south, Tenth Street from the east and Al Salam Street from the west.
Sector E12 is located between Corniche Road to the north and Al Mina Road from the south, and Al Ferdous Street from the east and Salam Street to the west, providing 178 parking spaces. The charges will be AED 2 per hour or AED 15 per day for standard parking (curbstones painted in turquoise and black).
Sector E23 & 24 is located between the Civil Defense from the north, Al Saada Street to the south, East Road (Muroor Road) from the east, and Airport Road to the west, providing 391 parking spaces. As well as to provide optimal connectivity between Abu Dhabi Island and its suburbs and upcoming communities such as Saadiyat, Yas Islands and Al Raha Beach. Mohamed Nasser Al Otaiba, General Manager of Mawaqif at the Department of Transport, and in the presence of media representatives. Also, we received positive feedback in areas where Mawaqif has been implemented,” Al Otaiba explained. The new main road will also cater for the new Khalifa Industrial Zone (KIZAD) (A) and (B) in Abu Dhabi at Taweelah as the road is being designed to accommodate up to 7,000 vehiclesper hour. The first tender is to construct 34 Kilometres with three interchanges; the second tender will focus on the construction of 28 Kilometres and will also include three new interchanges and the modification of one existing interchange.
It will serve numerous local commuters along the way and provide an alternative main road to the current Abu Dhabi and Dubai main road (E11).
It will provide ample lighting at night and will follow best sustainable standards which aims to reduce energy consumption, be environmentally friendly and reduce operational cost. In addition, the main road will come with five U-turn facilities especially designed for emergency by official vehicles only.
Residential permits allow motorists to park in any available Standard Parking bay in the area where they reside. It is important to note that the step of creating the cost management plan exists irrespective of where it is created. These ceiling numbers (maximum cap) are proactively thought through by the project manager in the cost management planning stage. As a project manager, would you prefer reducing the cost of the project by saving $12,000 (by buying the alternate product)?
Cost expenditure can be controlled if the project team is aware of the timing on when to buy the product.
The cost budget indicates the total money the organization should have allocated for the project. Hence, all the activities need to be planned in a time-phased manner and may be shown as an S-curve. Earned value measurement is better, because it integrates cost, time and the work done (or scope) and can be used to forecast future performance and project completion dates and costs. Parking is free on official holidays, however, cars parked illegally will be fined at any point in time. A maximum of two permits is allowed per household and each permit must be sector- and vehicle-specific. A maximum of two permits is allowed per household and each permit is vehicle-specific and valid for specific sector(s) indicated on the permit. For the safety of the driver and passengers on the bus, the DoT ensure the buses are in excellent condition and should there be a request for recovery service, the maintenance and service team is accessible 24 hours a day with a reaction time of less than 15 minutes. Sector W24 is located between the Airport Road from the east and Al Karama Street to the west, Al Saada Street from the south and the local street (19-01) to the north, providing 818 parking spaces. In addition, the new main road will also facilitate connectivity to Al Ain as its link up with E22 (Abu Dhabi – Al Ain main road) and the rest of the main roads network in the Emirate of Abu Dhabi. The 20 meter wide median is designed for a staged upgrade and future expansion through the addition of two lanes in each direction, if needed. By clearly displaying the permit on the vehicle dashboard, they will be exempt from paying hourly or daily tariffs at the parking meters.
The other way that it can be controlled is when project expenditures are made in a time-phased manner. Thus, the ranges will be higher at the start of the project and will narrow down as project progresses.
If the project estimate exceeds the constraints, the project manager must meet the stakeholders and explain the reasons of exceeding the constraints and also share options to reduce project costs. Mawaqif users are encouraged to observe timings, rules and regulations posted on the signs at each Mawaqif sector. This permit is available to owners or tenants and their first of kin residing with them, such as mothers, fathers, spouses and children with a maximum of two permits per household. Or would you take into consideration the entire life cycle costing of the product and forgo $12,000 for a future saving of $45,000 for the company?
Else, an unrealistic budget is made available and it is considered to be a project managera€™s fault.
If an activity is to be executed on a project when the cost of purchasing the raw material is very high, the activity may need to be pre-poned or post-poned for the reasons to accommodate the surge in price.



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