Description:

This course provides a comprehensive guide on simplifying cost control reporting processes for effective financial management in the projects Explore key strategies, tools, and techniques to streamline cost monitoring and reporting in a simplified manner.

Key Highlights:

• Detailed analysis cost control reports
• Monthly financial Status Summary Report (MFS)
• Cost Report Worksheet 
• Revenue Report 

What you will learn:

• Detailed cost control reports: Learn how to compare a project's budget with actual costs incurred and estimated costs to complete at a specific point in time.
• Monthly Financial Status Summary (MFS): Provides an overview of the budget, forecasted costs and margins, billings by type, committed costs, key completion dates, progress metrics (value, cost, time, physical works), cash flow, project bonds, contingency reserves, purchase orders, subcontracts, and manhour expenses.
• Cost Report Worksheet: Outlines the cost budget structure, original budget, committed costs, performance to date, forecasted quantities and costs, revised budget, and budget variance.
• Revenue Report: Provides original contract values, approved and unapproved variations, forecasted costs, claimed values, contingencies, and the final contract value and margin projections.