Budgeting and Cost Management

Introduction

Engenicom has substantial budgeting and cost management experience, having managed the commercial aspects of large projects across rail, civil construction, mining, and energy. Acting as the client’s representative, our team of dedicated Commercial Managers focus on implementing cost management and budgeting mechanisms to ensure projects are delivered within budget. Continuous monitoring and review in terms of time, scope and cost provides our clients with the visibility they need to make informed decisions. Engenicom provides the following commercial services in managing our clients’ projects:

  • Budget establishment
  • Invoice review, allocation & facilitation of payment process
  • Reconciliation of project costs to capital WIP accounts
  • Cost reporting, forecasting and review
  • Management and dashboard reporting
  • Cashflow forecasting
  • Risk and opportunity collation and reporting
  • Scope change management, approvals and documentation

Methodology

The Engenicom Commercial Team develop project budgets through benchmarking of previous work and by seeking input from its network of skilled internal and external engineering professionals. The Commercial Team assists clients in establishing project budgeting and cost management mechanisms to ensure appropriate governance is in place. Engenicom focuses on creating visibility of performance through reporting mechanisms and managing scope change through its project management processes.