Cost Management Plan Clause Samples
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Cost Management Plan. B.5.
1.1 Design Builder shall develop a comprehensive Cost Management Plan, as part of the overall Project Management Plan, that establishes the criteria and the activities for developing, monitoring and controlling costs, and includes: methodology for evaluating costs of Work solutions against aspects of performance to mitigate any conflicts with the purpose and need of the Project, including:
(i) safety;
(ii) user needs;
(iii) durability;
(iv) long term performance;
(v) lifecycle costs in accordance with Section B.5.2 of this Schedule 18; and
(vi) and other parameter as requested by the City, acting reasonably. process for monitoring, remedying, mitigating or otherwise addressing the cost consequences of events that are, or may be, or are likely to become, a Relief Events; and approach to minimize any increase in costs and maximize any reduction in costs related to Change Orders.
Cost Management Plan. The initial plan should document processes being developed to manage the Project to identify areas for improvement.
Cost Management Plan. The Contractor is responsible for developing a plan that indicates how project costs/budget will be incurred, controlled, and reported. The plan must include the finalized cost and budget for the project. Cost-related progress report formatting will be developed and included by the Contractor, consistent with AHS requirements and format, with inputs from State team members, and must include a tracking of costs to the project budget baseline.
Cost Management Plan. See Section 8 Change Control Management for information about this plan.
Cost Management Plan. The Cost Management Plan must describe our approach, processes and procedures to develop and establish transparent and robust cost management, including:
(a) an overview of the cost management system;
(b) details of the cost management structure and cost control structure including:
(i) cost codes, including linkage to the TCE elements;
(ii) accountabilities for cost control;
(iii) delegations for cost commitments, payments and contingency drawdown;
(iv) management of budget, budget establishment, budget allocation and budget reallocation;
(v) management of rates based budgets (materials and plant hire);
(vi) management of budget variations;
(vii) management of Subcontractors and suppliers variations, claims and disputes; and
(viii) management of contingency;
(c) variance monthly reporting, outlining method for determining actual cost to date, accruals, earned value to date, forecast cost at completion, and forecast budget at completion;
(d) mitigation of any cost overrun; and
(e) active pursuit of cost opportunities.
Cost Management Plan. This plan describes how costs are mapped and controlled to maintain the budget.