Code of Practice for Programme Management by Chartered Institute of Building;

Author:Chartered Institute of Building; [CIOB]
Language: eng
Format: epub
Publisher: John Wiley & Sons, Incorporated
Published: 2016-08-08T00:00:00+00:00

One method is to set up the main accounting systems to track cost and billings by WBS line item. Most ERP (Enterprise Resource Planning) packages will track inventory movements by item type or by project code.

Project- and programme-oriented businesses need to be able to relate the use of material and labour to one key ‘manufacture’ or ‘procurement’ item number at a WBS level, allowing:

Meaningful comparison between the estimated or budgeted cost of work performed (BCWP) and the actual cost of work performed (ACWP)

Real-time update of the estimates or standards for costs to complete against actual cost based on incurred costs

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