Budgeting is a specialized process that produces a quantitative estimate of likely project costs. Throughout the study phases, we use past experience and evolving project information to develop budgets and estimates for resources and activities. After project approval, estimates are refined based on final project plans, scope of work, tender data, and construction progress.

Added Value in Cost Estimation:

• Incorporation of WBS into each activity for clear scope definition, reporting, and review

• Accurate quantities through engineering effort and market-based rates

• Allocation of procurement packages to a Cost Breakdown Structure (CBS)

• Flexible reporting and analysis via centralized databases

• Data extraction using pivot tables for effective decision-making

Cash Flow:

• Linking estimate data to the execution schedule using WBS-based processes for accurate cash flow and financial models

Contingencies and Allowances:

• Identification of foreign exchange exposure for sensitivity analysis

• Allowances calculated through statistical modelling of cost variations

• Contingencies based on project risk profiles and likelihood of occurrence

• Change control from base budget to track and manage cost impacts

Cost Control and Reporting:

• Regular data capture at defined intervals for accurate cost tracking

• Monthly reporting on commitments, cash flow, and forecasts to detect trends and enable timely corrective action