Cost Management

7 pillars of estimate: step by step guide for a strong and reliable cost management.

The practice of projecting the financial and other resources required to execute a project within a stated scope and timetable is known as the cost estimate. Cost estimates that are accurate and trustworthy are critical for policy formation, decision-making, and effective delivery. The ability to produce reliable, accurate and transparent cost estimates is critical to…

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Rehabilitation of abandoned railways challenges from the civil engineering point of view, cost pressure as estimation of the costs, risks associated, and their opportunities in UK

Abandoned Railway Tracks These are the railway tracks that has not been under usage since long time due to certain reasons, we can say these railway tracks are disused railway tracks or closed railway tracks due to their not usage since long time. Challenges Behind Rehabilitation of abandoned railways w.r.t civil engineering in UK market…

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Capital and operating costs, how to estimate construction expenditure.

Cost management is an integral part of construction development projects. Until and unless you don’t distinguish correctly between the construction costs and perform the construction expenditure estimation, you won’t be able to foresee and comprehend the net benefit of the project.  Before we discuss the estimation methods of the construction expenditure, let’s take a look…

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Total Expenditure Estimation: how to capture all the elements and calculate reliable TotEx estimates.

Gigantic strain exists to keep on decreasing capital undertaking costs, diminish working expenses, lessen energy utilization, meet natural supportability targets, and all with fewer assets and individuals. However, consider the possibility that we utilize this opportunity to think diversely. This is the ideal time to rethink how we approach capital and functional ventures. TOTEX Approach…

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A pragmatic approach: how enabling works can improve project success.

Enabling works is a general explanation for site preparation works that may happen preceding work under the principle construction contract. Essentially, site preparation refers to the execution of certain exercises that should be taken to guarantee the greatest wellbeing and security and that construction activities won’t be impeded. Site preparation is done prior to the…

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How badly are impacted the cost of infrastructure by whole life cycle?

Whole life cycle costing considers the entire cost of a product or service over its total life span, from inception to removal including buying, recruiting or rent, maintenance, utilities, functionality, and removal. Usually, the initial costs are just a little part of the expense of operating it. Life-cycle cost analysis (LCCA) is a technique for…

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What is whole life cycle costing for infrastructures, and is it worth?

Whole life cycle costs entail all costs related to the existence of a structure, from commencement to development, occupation, and activity, and removal. Whole life cycle costing is a technique for the structured economic assessment used to build up the absolute expense of proprietorship, or the whole life costing of choice evaluations. It is an…

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Use, abuse, and misuse of optimism bias in civil engineering, how to avoid it.

Estimate, Estimation, Civil Engineering, Cost Management, Whole Life Cycle Costing, Optimism Bias Optimism bias is the inclination of people to anticipate better compared to average results from their activities. Basically, Optimism bias in construction projects is the inclination, unknowingly or intentionally, to exaggerate anticipated advantages and minimize the degree of intricacy of the project bringing…

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How five whys, or Critical Thinking, pragmatic approach improve civil engineering projects.

Before we talk about how the five whys of pragmatic approach can improve civil engineering projects, let’s first have a look at what Pragmatic Approach is.  The pragmatic approach refers to taking decisions on practical reflections rather than theoretical ones. A person who opts pragmatic approach manages things practically. The emphasis of the Pragmatic approach…

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Infrastructure spending for small rural clusters. Waste of public money or Social Value?

If you have read our recent blogs, you may know that previously we talked about how it is justified to spend ample money on infrastructure in rural clusters. Today we intend to talk more about it but from different perspectives. By seeing the role of rural clusters in driving rural development we presented the view…

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