ASSIGNMENT

Assignment

Assignment

Control and Evaluation

Monitoring and control of project costs is the necessary complement to the programming and the estimated costs, which allows successful completion of the realization of a project. It aims to assess the actual performance of the project, compared with the objectives set, and thus correct differences between results and objectives. Among the variables typical control has: time, cost, quality and progress, but each project may have different control variables. In a project control, what is most important is to know how well the work has been performed in comparison to plan, either in cost or time.

Tools of Cost Control

The following are important cost tools that are required for effective cost control.

Budgeted Cost of Work Scheduled (BCWS): This is the budget, distributed in time, resources required to complete the entire project.

Budgeted Cost of Work Performed: Corresponds to the total value of work executed at a certain date, according to the budget.

Cost Actual (real): Are costs that have been used in reality for the job executed.

The project evaluation project evaluation is to compare the costs with the benefits they generate, in order to decide on whether to carry them out. This aims to address the problem of resource allocation explicitly recommending using different techniques that a given initiative is carried out over alternative projects. To identify the costs and benefits of the project that are relevant UMass Boston should define a baseline situation or situation without project comparison of what happens with the project versus what would have happened without the project, define the relevant costs and benefits of it.

The financial evaluation, economic and social developments are made in conjunction with what we might call technical evaluation of the project, which is to ensure the technical feasibility of the same: that is not brought down the bridge; the engine does not burn or possible river diversion completed in the fall. Likewise, the economic evaluation presupposes a proper formulation and administrative review, as well as formulating and evaluating an appropriate institutional and legal: it is possible to expropriate the land, it is possible to patent the invention, or does not conflict with environmental regulations. The private evaluation of projects includes a financial assessment and economic evaluation. This assessment is relevant to determining the financial capacity of the project call and return on capital invested in the project. The economic evaluation, however, assumes that all purchases and cash sales are ...