The first major task in Time and Cost control is to plan and break down the project into small and manageable segments and develop from them the master schedule and milestone network on the one side, and the master budget on the other. These two are the major tools to control the time and cost factors of the project performance.
Various schedules used for Time and Cost control shall include the following :
- Master time schedule
- Engineering time schedule
- Procurement time schedule
- Construction time schedule
- Commissioning time schedule
- Schedule of engineering man-hours
- Schedule of procurement than days
- Schedule of project team man days
- Schedule of construction supervision man days
- Schedule of direct field labour days
- Integrated schedule of critical equipment with time phased budgeted cost
- Integrated schedule of bulk materials with time phased budgeted cost
- Integrated schedules of other equipment and materials with time phased budgeted cost
- Integrated schedule of engineering by disciplines, with man-hours and time phased budgeted cost
- Labour, equipment and other resources schedules with individual budgeted costs
- Time phased budgets for corporate office expenditure, technology acquisition and other sundry costs
- Crashing economy analysis
Besides the above mentioned schedules of time and cost several other tools of assumptions, basic data, and output information are used in time aid cost control at various control prints.
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