Cost and Value Management in Projects

1 Introduction to the Challenge of Cost and Value Management in Projects. 1.1 Importance of Cost and Value Management in Projects. 1.2 Keys to Effective Project Cost Management. 1.3 Essential Features of Project Value Management. 1.4 Organization of the Book. 2 Project Needs Assessment, Concept Development, and Planning. 2.1 Needs Identification. 2.2 Conceptual Development. 2.3 The Statement of Work. 2.4 Project Planning. 2.5 Project Scope Definition. 2.6 Work Breakdown Structure. 3 Cost Estimation. 3.1 Importance of Cost Estimation. 3.2 Problems of Cost Estimation. 3.3 Sources and Categories of Project Costs. 3.4 Cost Estimating Methods. 3.5 Cost Estimation Process. 3.6 Allowances for Contingencies in Cost Estimation. 3.7 The Use of Learning Curves in Cost Estimation. 4 Project Budgeting. 4.1 Issues in Project Budgeting. 4.2 Developing a Project Budget. 4.3 Approaches to Developing a Project Budget. 4.4 Activity-based Costing. 4.5 Program Budgeting. 4.6 Developing a Project Contingency Budget. 4.7 Issues in Budget Development. 4.8 Crashing the Project: Budget Effects. Crashing Project Activities-Decision Making. 5 Project Cost Control. 5.1 Overview of the Project Evaluation and Control System. 5.2 Integrating Cost and Time in Monitoring Project Performance: The S-Curve. 5.3 Earned Value Management. 5.4 Earned Value Management Model. 5.5 Fundamentals of Earned Value. 5.6 EVM Terminology. 5.7 Relevancy of Earned Value Management. 5.8 Conducting an Earned Value Analysis. 5.9 Performing an Earned Value Assessment. 5.10 Managing a Portfolio of Projects with Earned Value Management. 5.11 Important Issues in the Effective Use of Earned Value Management. 6 Cash Flow Management. 6.1 The Concept of Cash Flow. 6.2 Cash Flow and the Worth of Projects. 6.3 Payment Arrangements. 7 Financial Management in Projects. 7.1 Financing of Projects Versus Project Finance. 7.2 Principles of Financing Projects. 7.3 Types and Sources of Finance. 7.4 Sources of Finance. 7.5 Cost of Financing. 7.6 Project Finance. 7.7 The Process of Project Financial Management. 8 Value Management. 8.1 Concept of Value. 8.2 Dimensions and Measures of Value. 8.3 Overview of Value Management. 8.4 Value Management Terms. 8.5 Need for Value Management in Projects. 8.6 The Value Management Approach. 8.7 The VM Process. 8.8 Benefits of Value Management. 8.9 Other VM Requirements. 8.10 Value Management Reviews. 8.11 Relationship between Project Value and Risk. 8.12 Value Management as an Aid to Risk Assessment. 8.13 An Example of How VM and Risk Management Interrelate. 9 Change Control and Configuration Management. 9.1 Causes of Changes. 9.2 Influence of Changes. 9.3 Configuration Management. 9.4 Configuration Management Standards. 9.5 The CM Process. 9.6 Control of Changes. 9.7 Change Control Procedure and Configuration Control. 9.8 Responsibility for the Control of Changes. 9.9 Crisis Management. 9.10 An Example of Configuration Management. 10 Supply Chain Management. 10.1 What Is Supply Chain Management? 10.2 The Need to Manage Supply Chains. 10.3 SCM Benefits. 10.4 Critical Areas of SCM. 10.5 SCM Issues in Project Management. 10.6 Value Drivers in Project Supply Chain Management. 10.7 Optimizing Value in Project Supply Chains. 10.8 Project Supply Chain Process Framework. 10.9 Integrating the Supply Chain. 10.10 Performance Metrics in Project Supply Chain Management. 10.11 Project Supply Chain Metrics and the Supply Chain Operations Reference (SCOR) Model. 10.12 Future Issues in Project Supply Chain Management. 11 Quality Management in Projects. 11.1 Definition of Quality in Projects. 11.2 Elements of Project Quality. 11.3 Total Quality Management (TQM) in Projects. 11.4 Quality Management Methods for a Project Organization. 11.5 Quality Standards for Projects. 12 Integrating Cost and Value in Projects. 12.1 The Project Value Chain. 12.2 Project Value Chain Analysis. 12.3 Sources and Strategies for Integrating Cost and Value in Projects. 12.4 Integrated Value and Risk Management. 12.5 The Project Cost and Value Integration Process. Index.

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