CONSTRUCTION PROJECT COST MANAGEMENT

Abstract

The cost of the construction project is determined by the amount of the investments which are required for its realization. In order to ensure a project efficiency it is necessary to calculate a maximum level of investments increase and avoid its overrun. It is necessary to make in-time actions on factors which cause an increase in investments. The paper proposes a mechanism for controlling the cost of the construction project which allows to an investor to foresee the project requirements in additional investments, to organize economical expenditure of monetary resources, to control their target use and make timely decisions which reduce the cost of the project.