Cost Management is one of the key pillars of the project control. Cash flow and budget reports are considered essential project control tools and are used by project executives to ensure that the project is on the right track. These tools are highly effective for the purposes of project control and organizing, controlling and monitoring financial resources. However, management of costs within the context of claims management demands a considerably different approach.

Cost Management service provided by PMCG, in this context, includes the following tasks:

* Establishing the Earned Value Management System and tracking the project performance,

* Classification of costs into task related, time related and one off categories,

* Documentation of time related costs for the purposes of prolongation cost calculations,

* Establishing a manageable cost code system based on activity types, and

* Measurement of task-based productivity.

PMCG’s Cost Management service with a particular focus on claims management is specifically tailored for the needs of our clients and contractual requirements. Therefore, a unique Cost Management procedure is prepared for each and every project. This service is offered by PMCG in two alternatives:

* Secondment of a Cost Engineer by PMCG to our clients team and provision of supervision services by a senior team member, or

* Supervision of Cost Management processes of our client’s team and provision of continuous support on any issue throughout the project lifecycle.

PMCG’s experts are extremely proficient in cost management and have provided this service in many projects with a special emphasis on claims management.