Project cost management and the process of cost control in construction projects

In this video, you will learn the process of cost management in construction project, how to create cost baseline, S curve and cash flow. You will also learn what they look like in project management. The cash flow is "time phased cost" which is basically the result of loading the project BOQ on the project baseline program, however cost engineers need to understand the difference between project BOQ and project budget in order to be able to apply the earned value metrics on the cost baseline. This video covers all of that.
Join this channel to get access to perks:
/ @cepqs
Link to Cost Estimation course:
cost-engineering-professional...

[@friendsgroup3330]

Hi Mr. Adel, your videos on Cost Estimating and Cost Control (Cost, price, PV, EV, actual cost etc.) are superb. Today, I had an interview and it became very good after I went through your 4-5 videos in the last 2 days. Thank you and God bless you. I am in Romania.

[@life-2023]

You are amazing Adel ! Thanks a ton !! Keep sharing your knowledge for the benefit of humanity !!

[@adam_xidig2196]

I was very disappointed for a poor Boq I prepared before two weeks and this explanation is what i needed to improve into next level thanks sir really helpfull and in the right time to understand very well from you

[@bourezahkarim3172]

The least we can do for you Ahmed is to say THANK YOU!!
Thank you very much sir.

[@jimmyaustria4019]

Great Job, simple and Clear. Thank you ..

[@bobbyshett8318]

I stayed spell-bound for the entire 47mins of the video without getting bored. You did not actually shouted and I did not get any headache.
Your concept and delivery is excellent!!! I could see a perfect marriage between theory and field experience.
I am looking forward to seeing the FCPI and how it will further consolidate on the overall cost control report. I have inboxed you for the template.
Thank you and keep the good work.

[@CEPQS]

Thanks Bobby for this elaborated feedback. Such support is enough reason to carry on and keep producing content. Much appreciate your valuable watch time and support 🙏👍. Regarding sharing the files, I’m still in search of effective and easy mechanism. Once done I’ll share all the templates of the channel videos. Thank you.

[@waleedmoustafa2215]

شرحك ممتاز، يعطيك العافية باشمهندس ❤

[@azeemziyan9129]

Perfect in explaining the content... Well done

[@javvaadagha4897]

Credible explanation with practical diligence, good job.

[@CEPQS]

Thanks Javvaad, much appreciated brother.

[@JaisonJohnjasienjohn]

Thank you very much for the best simple and practical explanation. Thanks for your effort.

[@CEPQS]

Thank you Jaison and appreciate your valued time watching. All the best.

[@Absadumar]

This is very educative, thank you very much.

[@zeeshan-wz3vv]

Very nice professor ❤
Impressive explanation
Great job

[@romeledangal6640]

Very clear and informative ..thanks 👍 👍 👍 👍

[@siby1002004]

Hi Mr Adel, Thank you somuch for such a great teaching...

[@vanadjei9698]

This is super. In fact u r a genius Ahmed cos I'm not not QS but the depth of knowledge acquired from this to my Acc is fully packed. Thanks for taking me to the higher level

[@CEPQS]

Thanks Van for your time watching and your kind support 🙏🙂. Much appreciated 👍

[@avbless5846]

awesome, thanks 4 sharing your knowledge. great demonstration

[@kato_emmanuel]

Weldone sir, so insightful and informative. I keep learning a new concept each day i visit the channel

[@wajirabandara4876]

You have an excellent teaching ability that attracts anyone who wishes to find the knowledge. I wish you all the success.

[@CEPQS]

Thank you for watching and for the kind support, and wish you all the best.

[@benchalk3579]

Thank you for your amazing videos and explanations

[@abdallahelhajj9527]

I have watched this video twice.. Really thank you brother for these informations and if I had money I would love to purchase your courses.

[@fihamahamed1276]

Best TH-cam channel ever 🎉❤❤❤

[@tariqaziz6643]

what an amazing video , thanks Ahmad Adil

[@zainunissamohamed9252]

Assalamu alaikum, I am from South Africa. Thank you so much for the detailed video. I have subscribed. I teach Construction Management first year students and your videos are very helpful to me and my students.

[@CEPQS]

Much appreciated 🙏👍, and thank you for your valuable trust. I wish you and your students all the best. 🙂

[@khotsodoski8794]

At what university. Can u please help me with a few questions I have about admission

[@rabi.mywork]

Alhamdulillah for this video... Thank you very much.... You're a blessing to my new learning Mr. Adel

[@MohamadRoushenHasair]

wow , best explantions , simpel and clear ❤

[@panda-xz3wx]

Wow, you're video is very helpful to beginners like me who want to start my construction project management journey! Thank you very much and I hope you continue to share your knowledge!

[@CEPQS]

Thanks a lot for the kinds words 🙏. I hope you enjoyed the video 🙂

[@mohamedaneesabdullatheef3603]

Really very understandable explanation and you are teaching with very professionally. thank you brother

[@CEPQS]

Thank you brother. Appreciate the time you spent watching the video and wish you all the best.

[@muhammedfaizal5180]

Barakallahu feek....This is awesome 👍 very detailed and explicit....

[@CEPQS]

Thanks brother. Glad you liked it 👍

[@Howtoexcel14]

Great work you are doing revealing all the details

[@CEPQS]

Thanks a lot for the support

[@moggyman6413]

Wow, wow this has helped me so much. I can't believe that you have explained this extensive information In 47 minutes and more importantly I have fully understood it.
Can I please ask how do I create and format the spreadsheets showing the blue, red and yellow lines.
Thank you so much

[@poojav6289]

Clear understanding, thank you so much sir 😊

[@CEPQS]

Thank you pooja, Hope you enjoyed the video

[@mediabox1141]

Love from my bottom of heart. My seniors nevel told me like this. Iam learning all this through this channel. Insha allah iam planning to change my profession qs to planning& cost control

[@CEPQS]

Thanks a lot for your kind support and I wish you all the best 🙏👍

[@user-qf1fw1un4e]

شكرا على الشرح الكافي والوافي

[@CEPQS]

اشكرك على المشاهدة و الدعم

[@eshaojha8554]

Excellent Explanation..!Thank you, Sir.

[@CEPQS]

Thank you 😊

[@CuongNguyen-jj2he]

Thank you for sharing, this is very interesting and helpful

[@CEPQS]

Thank you for watching and support

[@gum7719]

very easy to learn from you habibibibii

[@SakthiVel-gp2vl]

Very useful and easy understanding... thank you sir

[@CEPQS]

Thank you for watching and support 🙏🙂

[@njikumedwin1755]

Thank you sir, for this well prepared training materials, very useful in the industry. please for the link to enroll for the two courses.

[@AhmedSalama-uq2il]

Great work👍👍👍👍👍

[@christianconcepcion6813]

Amazing explanation!!!

[@CEPQS]

Thanks for watching 🙏🙂

[@sachithgunathunga5866]

Highly recommend, because I am following his courses ❤️

[@CEPQS]

A testimonial that I’m proud of. Thank you so much and wish you all the best ❤️

[@ronaldcirenis5296]

@@CEPQS i bought the second course, but for some reason i can't access the first one ("Quantity Surveying, Cost Estimation and BOQ Preparation) to purchase it on your web site

[@MrSkmeshram]

Great Work, Keep it up. I love you dear. Thanks

[@CEPQS]

Thanks a lot 🙂

[@uke_kristy_hendarto]

very clear, thank you, be blessed.

[@CEPQS]

Thank you 🙏 and wish you all the best 😊

[@mohamedzoubirelkan1300]

Thanks you ,very useful information

[@CEPQS]

Thank you 🙏🙂

[@ndyamusiimaarchangel4713]

Great.Thumbs up to you.

[@CEPQS]

Thank you 🙏😊

[@newmanishiguzor3106]

Thanks for the info..

[@benchalk3579]

You are a legend Sir

[@user-qd1uh6jf5n]

great. Thanks

[@gasanageorge2005]

Thanks!

[@mostafaelgablawy164]

thank you so much sir that's what I need that's too clear

[@CEPQS]

Thanks a lot for watching and support. Wish you all the best 🙏

[@usmansaeed4850]

Very well explained

[@CEPQS]

Thank you brother ❤️

[@caiphasmutata9837]

Your video is so educational, thanks for sharing. I just have one question that I need clarity on: Why on the computation of the EV are you using the internal values? I thought only the cost part of it should be the internal value but the PV and the EV should be based on the BOQ submitted to the employer. May you kindly add more light on this? Thank you in advance.

[@vineethv1550]

Sir , your videos was great to understand,can you pls upload labour productivity chart for various work in construction

[@pragashtharantharumalingam3315]

Very useful lesson . Best of luck

[@CEPQS]

Many many thanks. Good luck to you as well 👍

[@asalemeor]

Nice 👌

[@Queen34678]

good knowledge
thank a lot

[@CEPQS]

Thank you 🙂

[@atusaasirajoshua321]

its a nice one

[@relaxingstressreliefmedita8046]

u saved me! thanks

[@CEPQS]

Thanks for the support 👍, did you like the video ?

[@Cryptoguy89]

Keep it up your good work mate

[@CEPQS]

Thank you brother and much appreciate your valued support. All the best and Ramadan Kareem.

[@Cryptoguy89]

Deserves more views for such a quality content. You will get soon for your efforts Insha Allah. Ramadhan Kareem.

[@moggyman6413]

I am trying to set up the spreadsheet above, do you have a template I could download which includes the formulas to generate the charts. I would really appreciate it, Thank you

[@writetopardeep]

so helpful

[@CEPQS]

Glad it was helpful!

[@muhammedshaatheer6574]

Thank You

[@CEPQS]

Thank you brother, I hope it was useful

[@akarqadir]

thanks so much ...

[@CEPQS]

Thank you bro ❤️

[@sifathsifath443]

excellent 😎

[@CEPQS]

Thank you 🙂

[@IP_8579]

hi,really appreciate your work,my question is if it's normal to disclose a breakdown of cost as per BOQ and the margins if a client request it(or there are things we don't reveal),regards

[@CEPQS]

Depends, sometime contractors need to play with such stuff 😅

[@murishodzic1353]

"It's commendable that your team has worked hard on this project, even if it resulted in going over the estimated timeline. However, it's important to keep in mind that the cost to the client may also exceed the original estimate

[@markpalm672]

Thanks a lot for your presentation. I have one question about EV. The Client has got an initial planning for costs (PV)so he can prepare accordingly his payments .What if he refuse to pay 60000 saying that he had planned to have only about 30000 available for first month? If so, then i assume the Contractor will not have the same enthusiasm to continue with high EV at the early stages of project.

[@CEPQS]

Thanks a lot for watching and support. The client will usually have some reserve in case the value of executed works exceeded the planned value. But generally there is a limit to what can be done in 1 month considering the constrains that can be in the schedule due to the activity relationships and available work fronts. So the earned value will most of the time match the planned value or less. Increasing resources in some cases will not always enable you to seriously push the work and reduce the duration.

[@jublieeyes]

Please share link of next video about project controls and estimated EV

[@user-hc4gv3cn6b]

Thank you for this detailed video. One question I have, however, is how feasible is it to calculate the ‘earned’ value in the real word. I don’t think you spoke to how you arrived at the numbers in EV row. Could you shed some light here please ? Thank you in advance!

[@CEPQS]

The earned value is calculated monthly when you prepare your payment applications 😊. So every month you know the percentage completed and the earned value. There are 2 videos on the channel on how to prepare payment application, I believe they would clarify your concern 😃

[@willyzgambokawirima8509]

powerful

[@CEPQS]

Thank you 😊

[@TheHamzaysm]

Hi Sir, well explanation without getting bored,
i have a question for you that how did you find Actual cost and Earned value, are those ur assumption amount or u found somewhere ?, kindly explain. Thank you

[@CEPQS]

Actual cost will be calculated monthly for the activities executed in each month. In this example everything is an assumption just to clarify the concept.

[@shehinhn4773]

Sir, Kindly do for infrastructure works also (like bridges, highways and tunnel)

[@CEPQS]

Thank you for the request 👍🙏. Apologies I don’t have that experience but I’ll do my best to compile some information and make a video on that 🙂

[@humbertodiaz3137]

Hi, very explained video, congratulations
I would like to ask you, which are they courses for activities and for BOQ
there is just one link,
Could you share the course links?

[@CEPQS]

Thank you for watching and support. Currently courses are being updated. Better wait until the revised courses are published and announced ☺️

[@alexnsia5008]

Hello sir, I recently came across your videos and immediately I subscribed to your channel. You videos are amazing and interesting to watch. Please I have a personal question regarding your cost estimate course. Where is appropriate to dm you? I tried searching on you course platform but I couldn’t find and contact info. Thank you.

[@CEPQS]

You will find links to the course in the description of the videos. However better wait until the course is updated 👍

[@mukundviswanathan3465]

Hi Mr. Adel, I watched this detailed video 2 to 3 times, however, i feel Earned value for every month shall be based on our price (equal to our monthly invoice submitted). so that the final cumulative earned value shall be same as our contract price. please correct me if i understood wrongly.

[@gotlboys]

Great educational video.
One question:
Why the cash flow for earned value (EV) or yellow line at the end of the project completion is not equal to the total project price (i.e. $2.4M)? Thanks

[@husseinhurayz5998]

B3cause the earned value wad calculated depends on planned cost, not BOQ prices ( earned value = BOQ price - margin)

[@shadishadi5694]

​@husseinhurayz5998 hello sir, thank you for the explanation, i have one question please, so the EV is the total work done from progress payment or we need to deduct the margins from each item,
and do we need a software or we can do it by excel, thank you in advance

[@balogunayodeji5759]

Thanks for this insightful video sir! Can I get this template?

[@CEPQS]

Thanks a lot for watching. Sure, contact me at [e-mail]

[@dipeshsawant4628]

Wher I got link for study

[@gorgiassokrates]

Can i assume earned value is payment certificate amounth that we calculated each month.
Thank you for your valuable lessons god bless you,

[@CEPQS]

Well, not the net payment amount, because it will include the deductions. But you can say the total work done is the earned value. For example 1,000,000 out of 2,000,000. But the 1,000,000 will be subject to retention and recovery of advance payment and deducting the previously paid as well. So maybe your net payment in the end is just 150,000 this month. But still the earned value is 1,000,000 👍. Thank you for the question and wish you all the best 🙏

[@shafishan9064]

How can I join your course for cost control

[@sakooo12]

thanks for the wonderful sessions, can i please have the template that you worked on the video??

[@CEPQS]

I'll arrange it for you shortly. The problem is that I don't have the template on the PC that I'm using these days.

[@sakooo12]

@@CEPQS well yes please I would really appreciate if you could do that for me .
And let me know please if there’s any cost is associated with it

[@ayushmansdiary2694]

Hi sir, can I purchase this course now?

[@wasswaoumar7755]

Nice video sir could please elaborate using Ms project

[@CEPQS]

Alright 🙂

[@CEPQS]

Thank you 🙏

[@thukaramyadav7324]

how to get standard productivities for CEMM3 Codes BOQ items

[@CEPQS]

Already shared under the other comment 😊

[@ahmadfareedthoufeek1133]

I have some questions
1) When we make budget, can we add the same cost for PS?
2) How about retentions , advance payment ,repayment of advance payment, recovery of retentions while making cash flow?
3)EV is the monthly payment from Client in our payment certificate?

[@CEPQS]

1) for PS - yes without the margins
2) terms of payment have nothing to do with cash flow of the project (that is submitted to the client). You may consider these things in your internal cash flow.
3) EV is the total approved work done without any deductions

[@CEPQS]

The above is my sole opinion. No references

[@asrafa8438]

Explain about fidic

[@CEPQS]

Ok 👍

[@thukaramyadav7324]

how to calculate RATE ANALYSIS OF CESMM3 CODE WISE ITEMS COEEFICIENTS or Productivities FOR LABOUR HOURS ,MACHINARY hours etcc. (rate analysis)

[@CEPQS]

There are several videos on the channel talking about labor and material cost estimation, I’m listing 2 of them down here, but there are more talking about the form and all of that 👍

[@CEPQS]

Labor productivity
th-cam.com/video/OXzIh18zfdM/w-d-xo.html

[@CEPQS]

Labor cost estimation:
th-cam.com/video/M4EWSRz4Pc0/w-d-xo.html

[@abdullahabdulpahtarek1291]

work as aquantity surveyer civil engineer in misr qs company iwiil be so grateful if any one has work to do for we are afreelancing company
Thanks

[@dipeshsawant4628]

I need this excel file

[@splay8844]

it was labor contract

[@CEPQS]

Ok 😀

[@user-xj3iw2br2i]

Go to be a professor in the university, i think u more better than them.

[@arbazhodekar8007]

very nice information .Love you too Sir...!!!!!!
please send your linkedIn profile

[@CEPQS]

Thank you 😊.

[@AceCPAsBookkeeping]

TLDR: Cost control in construction projects involves monitoring planned value, actual costs, percentage completed of budget, schedule performance index, and cost performance index to ensure the project stays within budget and on schedule.
00:00 🏗 Understand how to create a cash flow for construction projects by preparing a quantity take off and bill of quantities, estimating costs, and managing the difference between cost and price.
02:57 🏗 Cost control in construction projects involves obtaining drawings, pricing, and cost estimation activities, with contractors submitting detailed programs and cost breakdowns for approval to effectively track and control project costs.
09:32 🏗 Understanding cost control in construction projects involves scheduling activities, submitting bills based on completion, and tracking planned values and cash flow over time.
16:26 🏗 The process of cost control in construction projects involves monitoring the scheduled and cumulative value of work done over time.
19:50 🏗 Prepare project budget by removing margins from cost estimate, execute project at budgeted amount, calculate costs of works, understand budgeting, focus on planned values and cost baseline.
26:02 🏗 Planned budget for construction project was exceeded, leading to termination of project manager, as the speaker explains the concept of planned value, actual cost, and earned value management in construction projects to track and analyze project spending.
32:24 🏗 Exceeding planned costs can still be favorable if earned value is higher, reaching 100% of budgeted amount, even if actual cost is higher, and budget plan changes can result in cost underrun and finishing ahead of schedule.
36:37 🏗 Cost control in construction projects involves monitoring planned value, actual costs, percentage completed of budget, schedule performance index, and cost performance index to ensure the project stays within budget and on schedule.

[@bamidelefestusoladimeji3358]

How do I get you on LinkedIn.

[@CEPQS]

It is Ahmed Adel in LinkedIn