Bernie, J and Howes, R (1983) Project management control using real-time budgeting and forecasting models. Construction Papers, 2(1), pp. 19-40. ISSN 0144-8587
Abstract
This paper presents a successfully tested method for establishing project expenditure budgets and forecasts for a broad spectrum of construction contracts. The model is based on the analysis of cost centre budgets which are dependent upon the user's concept of relevant expenditure patterns. The accumulations of cost centre budget forecasts represent the overall budgeted cost which can be analysed and simulated mathematically. The first section describes the theory of the cubic equation and application of a combination of cubic and exponential equations. The second section sets down a system which establishes the basis for its use by management.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | project management; budget; forecast; model |
| Index terms: | project management, budget forecast, forecasting, construction contract, budgeting |
| Subjects: | prediction and forecasting, financial and cost management, project management theory and practice, financial management, contract type |
| Topics: | Business Strategy, Procurement, Research Practice, Cost Management, Project Management |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here