Title: Cost monitoring and optimisation system for large complex project

Authors: Yunna Wu; Kaifeng Chen; Lingwenying Li; Yong Huang; Meng Yang; Haobo Zhang

Addresses: School of Economics and Management, North China Electric Power University, Beijing 102206, China ' School of Economics and Management, North China Electric Power University, Beijing 102206, China ' School of Economics and Management, North China Electric Power University, Beijing 102206, China ' China Nuclear E&C Group, Beijing, China ' School of Economics and Management, North China Electric Power University, Beijing 102206, China ' School of Economics and Management, North China Electric Power University, Beijing 102206, China

Abstract: Characteristics of large complex projects include great investment, big construction difficulty, long construction period, probably risk factors and the like. Although the previous researchers introduced the life cycle management to control investment, the move fails to achieve satisfactory results. The lack of systemic consideration can explain this. Therefore, the three-dimensional lifecycle investment management system is constructed to control investment in this paper. The dimension of subcontract hierarchy refers to the levels of the contractor. The dimension of cost milestone points means the cost supervision node. The dimension of program support review optimising is used to analyse systematically and fix the cost deviation. Then, the index system of cost monitoring milestone point is built. Finally, the operation mechanism of the management system is illustrated on the basis of mapping model between the contract and project work breakdown structure. A case study proves that the cost management system is effective.

Keywords: cost monitoring and optimisation; large complex projects; project management; whole life cycle management; work breakdown structure.

DOI: 10.1504/IJTPM.2017.086375

International Journal of Technology, Policy and Management, 2017 Vol.17 No.3, pp.202 - 219

Received: 09 Sep 2016
Accepted: 04 Dec 2016
Published online: 04 Sep 2017 *

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