REM 600 Lecture Notes - Lecture 10: Cost Overrun, Subcontractor, Project Manager

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 600
• Professor: Murtaza Haider

Document Summary

Goal of the construction mgmt. team is to complete the project for the contracted dollar amount and within the agreed time frame. Project manager and superintendent work together to come up with best plan and to solve any ongoing problems during constructions. Project control required continuous monitoring and evaluation of actual performance relative to estimated/planned. Seven fundamental steps to this process: develop the project plan, establish the project benchmarks, monitor the project performance, identify performance deviations, evaluate corrective options, make adjustments as needed, document, report, and evaluate results. The heart of every project has a control system of information and reporting processes. The following are some sources of information used to track job performance/feedback into the project control system: daily feedback reports, time cards, subcontractor billing statements, delivery tickets, material invoices, equipment time tickets, job logs. Detect variance between actual cost/time/productivity vs planned estimate/schedule. Develop historical estimating databases and productivity factors for future projects.