Cost Engineering has traveled through the US & Canada to meet and engage with the companies in the region. We also participated in the Seminar ‘The future of project controls: An integrated solution’ with a presentation led by our Vice President Business.
Accounting is a business language. We can use this language to communicate financial transactions and their results. Cost accounting and management accounting are two important terms in accounting that are used to control and formulate the organization policies. Both are used for different purposes with different styles. Let’s look at the main differences.
Cleopatra Enterprise allows you to use your own estimation models and techniques, and implement them in a state-of-the-art estimating solution, enabling you to make use of its powerful features. It is also a great tool to start designing new and improved cost models. Below are 4 cost estimation models to show the tip of the iceberg.
Cost is the value of an activity or asset. Generally, this value is determined by the cost of the resources that are expended to complete the activity or produce the asset. Although money and time are sometimes thought of as resources, they only implement or constrain the use of physical resources. The final activity or asset produced depends on what can be “afforded” given the money and time allocated to the project. Resources can be separated into four elements: equipment, materials, labor, and overhead:
For some time, the LinkedIn discussion group ‘Cost Engineering’ has been among the most prominent within the industry, with over 15.000 members. It is being used for many different posts, ranging from new insights, technological advancements, knowledge sharing and so on.