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This supplement will assist construction and related firms in preparing a Standard Operating Procedures (SOP) Manual for their small to medium size businesses. It can be customized to fit your office staff and work crew operations. The content also supplements Bizmanualz core procedures manuals for Accounting and Human Resources. Learn how to manage all aspects of construction jobs including estimating, contracts, planning and billing.
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Title Cost Control Prepared By Preparers Name/Title Reviewed By Reviewers Name/Title Approved By Final Approver's Name / Title Applicable Standard: N/A Policy:
Print Date mm/dd/yyyy Date Prepared mm/dd/yyyy Date Reviewed mm/dd/yyyy Date Approved mm/dd/yyyy
The Company policy is to maintain the Total Costing System and the Labor Costing System on all projects over $1,000,000 in value. Also, all projects with a labor content over $100,000 will be placed on both costing systems regardless of contract value. The primary purpose of the costing system is to provide management information in order to know and control project costs. In addition, the costing information is necessary to assist in preparing future estimates and conceptual budgets. Applies to all project managers, supervisors, and project administrators.
Purpose:
Scope: Procedure:
1.0
1.1
1.2
A copy of the completed form should be kept in the Contract Record Book for the project. The completed form should be forwarded to the Division Administration Manager without delay, because this document must be processed before budgets can be set up and before any payrolls can be run or invoices paid. Copies are circulated to other departments to inform them that we are starting a new project and to provide preliminary data describing the project. Standard cost codes shall be developed and utilized in order to communicate our costing information in a clear manner to all who use it.
1.3
Sample Procedure
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A certain amount of flexibility should be built into the standard cost coding system to accommodate various clients and projects.
2.0
2.1
INITIAL BUDGETS
The Project Manager and Project Superintendent are jointly responsible for the preparation of the budget for a project. The Total Costing System budget and the Labor Costing System budgets should be prepared concurrently, if possible. They should balance to but not be as detailed as the estimates. Quantity Reporting. The accuracy and consistency of our quantity reporting is the heart of an effective Cost Control System. It is equally important that the quantity reports be submitted on time. Budget Revisions. Changes in the project must immediately be reflected in revisions to the budget. Edits and Error Correction. Any errors or inconsistencies in the Total Costing System or in the Labor Costing System should be detected and brought to the attention of the Project Manager.
2.2
2.3 2.4
3.0
3.1 3.2
REPORTS
Labor Cost Reports shall be prepared on a weekly or bi-weekly basis and be issued to all individuals who need the information contained therein. Total Cost Reports shall be prepared monthly and distributed likewise.
Sample Procedure
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