CHARACTERISTICS OF COST MANAGEMENT IN CONSTRUCTION PROJECTS

In the current work of organizations expect construction projects to be completed in a certain time and resources that were originally allocated. Construction project cost expressed manpower effort and actually materialized is submitted for the project. Project cost management is a process that involves estimating, planning, and controlling costs so that the project does not exceed the budget. Project cost management must take into account the need for information to stakeholders. They can measure project costs in time and with different methods, their vision of the project cost could be different. Although primarily aimed at project cost management costs associated with the necessary resources for successful completion of the activities that make up the project, from the design phase - feasibility should be considered life-cycle cost of a construction project. It provides, especially in terms of customers or users, real total cost of the project construction.