Financial Management, Construction Economics, and Budget Control:
Lesson Plan #7
LESSON GOALS AND OBJECTIVES:
This lesson continues the theme of project control. Time, cost, and quality control are addressed. Focus is placed on steps that can be taken to improve performance at the activity level with an emphasis on cost performance. Students will learn methods to forecast activity costs.
Once a project has started, the role of management becomes one of project control. Once variances from the original plan are identified, their impact on the overall project can be predicted, and efforts can be made to reduce or eliminate any negative impacts.