Finalizing Contracts - Perform comprehensive market research to stay updated on material and labor costs related to civil work. Conduct in-depth rate analysis of various items based on current market rates to prepare detailed cost estimates. Review cost estimates prepared by cost consultants and approve the same. Assess civil construction costs during the Technical Due Diligence stage and prepare preliminary budget and seek necessary approvals. Extract accurate quantities of materials and resources required and refine cost estimates at each design stage (Concept, Schematic, Detailed Design). Prepare final budgets based on Good for Construction (GFC) drawings and seek approval from all relevant stakeholders. Prepare an escalation contingency matrix at each stage to account for possible cost overruns. Prepare a Bill of Quantities at the Detailed Design stage and submit it to the contract department for contractor bidding. Regularly update quantities and budgets to reflect project scope changes, design revisions, or market fluctuations. Develop and maintain an escalation trend matrix for various costs, providing management with valuable insights into future budget requirements.
Cost Monitoring and Optimisation - Track the usage of materials and resources against finalized quantities and the project budget and prepare and submit detailed monthly cost reports. Provide inputs for efficient utilization of materials to minimize wastage and prevent cost overruns. Conduct thorough variance analysis, comparing actual costs with budgeted amounts, and provide detailed justifications for any discrepancies. Maintain MIS reports to track and report on budget consumption status and ensure timely and accurate submission of reports to relevant stakeholders. Engage with stakeholders to explore possible value engineering solutions to optimize project costs associated with civil work during construction, ensuring cost control. Recommend amendments to contracts for substitution of materials in line with value engineering solutions proposed and ensure communication of the same to relevant stakeholders.
