Cost & Cash Flow Budgeting & Monitoring
SOCOTEC has the experience necessary to set up proper project controls, to monitor progress and cost, and to timely report status and trends.
Project metrics and cost controls are critical to the monitoring of earnings, cash flow and revenue recognition, as well as, to the forecasting and the identification of cost overruns in a timely manner so that mitigating actions can be taken.
Performance Metrics and Cost Controls
SOCOTEC’s cost control professionals are familiar and skilled with common systems and practices. We have assisted with the implementation of cost control systems, trained individuals and companies in cost controls practices, advised on cost control policies and procedures, and analyzed costs on troubled projects. It is important for contractors and owners alike to keep current on a project’s cost by maintaining a reliable cost control system.
Project metrics and cost controls are critical to the monitoring of earnings, cash flow and revenue recognition, as well as, to the forecasting and the identification of cost overruns in a timely manner so that mitigating actions can be taken. SOCOTEC has the experience necessary to set up proper project controls, to monitor progress and cost, and to timely report status and trends.
Our expertise and related services include:
- Cash Flow Analysis
- Earned Value
- Margin Analysis
- Liquidated Damages
- Revenue Recognition
- Shipment and Equipment Tracking
- Contract Reconciliation
- Commercial Position
- Estimate at Completion (“EAC”) and Estimate to Complete (“ETC”) Costs Review
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