- Identifying the risks to the project and assorted costs.
- The preparation of a robust budget at the outset.
- The agreement of cost control procedures.
- The agreement of limits of authority.
- The preparation of a pre-tender estimate.
- The preparation of monthly cost reports throughout the contract period (with emphasis on the Forward Look).
- The agreement to change proposals before the works are implemented.
- Monitoring the trends of change.
- Monitoring the expenditure of the contingency sum.
An essential element of successful cost control is the strict administration of change control procedures throughout all stages of the project from initial budgets, during the design stage and throughout construction.