Precise Guide Construction ProjectManagement ProjectAccounting

Vision
To be the Preference in Value Optimization for Business
Mission
To develop Business Leaders through imparting quality education and training
in financial and non-financial areas to bring value-addition in the economy
Core Values
Contents
Foreword
Preface

About the Author
Chapter 1
Overview of Construction Industry.......................................1
Chapter 2
Understanding the Basics of Construction Project.............5
Chapter 3
Preparing Project Proposal and Awarding Contract .......11
Chapter 4
Planning and Scheduling..................................................17
Chapter 5
Risk Assessment and Assurance.........................................21
Chapter 6
Procurement, Sub-Contracting and Outsourcing............25
Chapter 7
Management of Inventory, Plant and Machinery...........29
Chapter 8
Human Resource Management .......................................33
Chapter 9
Project Execution and Billing .............................................37
Chapter 10
Project Accounting and Reporting ...................................41
Chapter 11
Project Cost Management.................................................51
Chapter 12
Quality, Health, Safety and Environment .........................55
Chapter 13
Management Information System.....................................59
Chapter 14
Monitoring and Control, Demobilization and Close out.63
Annexure - Case Study

Appendix - List of Documents
Overview of Construction Industry
A Precise Guide to Construction Project

Management and Project Accounting
This page is intentionally left blank
Institute of Cost and Management Accountants of Pakistan



Understanding the Basics of Construction Project




10

Preparing Project Proposal and Awarding Contract
12

13

14

15

16
Planning and Scheduling

18

19

20
Risk Assessment and Assurance

22

23

24

Procurement, Sub-Contracting and Outsourcing
26

27

28

Management of Inventory, Plant and Machinery
30

31

32
Human Resource Management

34

35

36
Project Execution and Billing

38

39

40
Project Accounting and Reporting

42

43

44

45

46

47

48

49

50
Project Cost Management

52

53

54

Quality, Health, Safety and Environment
56

57

58
Management Information System

60

Report
Frequency
Finance
Balance Sheet
Cash Flow
Project Plan vs. Progress
Procurement
Quality
Headcount
Monthly Basis Revised on project plan revision

Monthly
Monthly
Monthly
Monthly
Daily, Weekly, Monthly
W eekly, Monthly
Daily, Weekly, Monthly
Monthly
61

62

Monitoring and Control, Demobilization and Close out
64

65

66

68

69

70

71

72

74

75

Project Proposal Approval Form

ABC Company Limited
Proposal No:
Date:
Project Proposal Approval Form
Proposal Name
Client:
Validity:
Rs
Material X
Man Power
Sub Contracting
Supervision
Equipment
Site Facilities
Risk X
Financial Cost
Other
Total
XXXXXX
XXXXXXX
XXXXXXX
XXXXXXX
XXXXXXX
XXXXXXX
XXXXXX
XXXXXXX
XXXXXXX
Project Margin X
XXXXXX
Proposed Price: X
Less Sales Tax X
Net Price
Prepared By
76
XXXXXXX
XXXXXX
XXXXXX
XXXXXXX
Checked By
Approved By

Estimated Bid Material Cost

ABC Company Limited
Estimated Material Cost
Proposal No:
S. No
Description
Unit
Rate
Qty
Amount
Remarks
77

Estimated Bid Labour Cost

ABC Company Limited
Estimated Labour Cost
Proposal No:
S. No
78
Description
Unit
Rate
Qty
Amount
Remarks

Estimated Sub Contracting Cost

ABC Company Limited
Estimated Sub Contracting Cost
Proposal No:
S. No
Description
Unit
Rate
Qty
Amount
Remarks
79

Estimated Bid Equipment Cost

ABC Company Limited
Estimated Bid Equipment Cost
Proposal No:
This cost may be divided into three parts i-e Equipments purchased
and charged to project, received from head office and rented.

S. No
80
Description
Unit
Rate
Qty
Amount
Remarks

Estimated Site Facilities Cost

ABC Company Limited
Estimated Site Facilities Cost

Proposal No:
S. No
Description
Unit
Rate
Qty
Amount
Remarks
81

Budget Revision 0
ABC Company Limited
Budget Revision 0
Project:
Client:
Validity:
Rs
XXXXXX
XXXXXX
XXXXXX
Proposed Price: X
Less Sales Tax X
Net Price X
Material X
Man Power
Sub Contracting
Supervision
Equipment X
Site Facilities
Financial Cost X
Other
Total
Project Margin
Prepared By
82
XXXXXX
XXXXXXX
XXXXXXX
XXXXXXX
XXXXXX
XXXXXXX
XXXXXX
XXXXXXX
Checked By
XXXXXXX
XXXXXXX
Approved By

Project Plan
ABC Company Limited

Activity Code
xxxxxx
Time
1
Description
Time
2
Time
3
Time
4
Time
5
Time
6
Time
7
Time
8
Time
9
Time
10
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
xxxxxx
Planned
Actual
Prepared By
Checked By
83

Invoice
ABC Company Limited

Invoice No: ..
Date: ..
To
No
Description
Unit
Rate
Qty
Amount
Total
Sales Tax
Grand Total
84

Debit Note
ABC Company Limited

Invoice No: ..
Date: ..
To
No
Description
Unit
Rate
Qty
Amount
Total
Sales Tax
Grand Total
85

Credit Note
ABC Company Limited

Invoice No: ..

Date: ..
To
No
Description
Unit
Rate
Qty
Amount
Total
Sales Tax
Grand Total
86

Request for Purchase

ABC Company Limited
Request For Purchase
RFP

No:
Date:
Code
Description
Unit
Budgeted
Unit Cost
Qty
Required
Budgeted
Cost
Date
Required
Suggested
Supplier
87

Request for Quote

ABC Company Limited
Request For Quote
RFP
No:
Date:
Code
88
Description
Unit
Budgeted
Unit Cost
Qty
Required
Budgeted
Cost
Date
Required
Suggested
Supplier

Comparative Statement
ABC Company Limited
Comparative Statement
89

Purchase Order
ABC Company Limited
Purchase Order
P.O. No: .
.
Date:
To
S. No
Description
Unit
Rate
Qty
Amount
Total
Sales Tax
Grand Total
90

Goods Received Note

ABC Company Limited
Goods Received Note
Good Received Note

From:
No:
Date:
S. No
Code
Description
Unit
Qty
Received
Qty
Accepted
Qty
Rejected
Remarks
91

Store Issue Requisition

ABC Company Limited
Store Issue Requisition
From:
No:
Date:
S. No
Code
Unit
Qty Required
Qty Issued
Remarks
Required By:
Issued By:
92

Profit and Loss Account

ABC Company Limited
Monthly Profit and Loss Account

Activity
Code
Description
Time
1
Time
2
Time
3
Time
4
Time
5
Time
6
Time
7
Time
8
Time
9
Time
10
Total
Billing Revenue
Project Cost:
Material
Manpower
Sub Contracting
Supervision
Machinery
Other
Total Cost
Project Margin
93

Balance Sheet
ABC Company Limited
Project ABC
As at xx/xx/xxxx
Description
Fixed Assets
Land
Building
Plant and Machinery
Office Equipments
Furniture and Fixture
Motor Vehicles
Total Fixed Assets
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
Current Assets
Cash and Bank
Accounts Receivables
Stock
Total Current Assets
xxxxxx
xxxxxx
xxxxxx
xxxxxx
Total Assets
xxxxxx
Long Term Liabilities

Long Term Loan
Other Long Term Liabilities
xxxxxx
xxxxxx
Total Long Term Liabilities
xxxxxx
Short Term Liabilities

Accounts and Notes Payable
Short Term Loans
Total Short Term Loans
xxxxxx
xxxxxx
xxxxxx
Head Office Investments
xxxxxx
Total Liabilities and Investment
xxxxxx
94

Cash Flow
ABC Company Limited
Project ABC
Monthly Cash Flow
Description
Time Time Time Time Time Time Time Time Time Time
1
2
3
4
5
6
7
8
9
10
Total
Opening Balance
Receipts
Project Billing
Other
Total Receipts
Payments
Suppliers
Payroll
Others
Total Payments
Net Change
Balance C/F
95

Analytical Study
ABC Company Limited
Project ABC
Analytical Study
Activity
Code
Description
Budget
Project
To date
Actual
Month
To date
Month
Balance
Cost
to Complete
Cost at
Completion
Variance
PTD
Month
At Completion
At
Completion
Billing Revenue
Project Cost
Material
Manpower
Sub Contracting
Supervision
Machinery
Other
Total Cost
Project Margin
96

Non-Conformity Report
ABC Company Limited
Project ABC
S. No
Date Reported
Status
Remarks
97

Risk Analysis
ABC Company Limited
Project ABC
S. No
98
Remarks

Precise Guide Construction ProjectManagement ProjectAccounting

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Vision

To be the Preference in Value Optimization for Business

Overview of Construction Industry.......................................1

Understanding the Basics of Construction Project.............5

Preparing Project Proposal and Awarding Contract .......11

Planning and Scheduling..................................................17

Risk Assessment and Assurance.........................................21

Procurement, Sub-Contracting and Outsourcing............25

Management of Inventory, Plant and Machinery...........29

Human Resource Management .......................................33

Project Execution and Billing .............................................37

Project Accounting and Reporting ...................................41

Project Cost Management.................................................51

Quality, Health, Safety and Environment .........................55

Management Information System.....................................59

Monitoring and Control, Demobilization and Close out.63

Annexure - Case Study

Overview of Construction Industry

A Precise Guide to Construction Project

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Overview of Construction Industry

A Precise Guide to Construction Project

Overview of Construction Industry

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Understanding the Basics of Construction Project

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Understanding the Basics of Construction Project

A Precise Guide to Construction Project

Understanding the Basics of Construction Project

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Understanding the Basics of Construction Project

A Precise Guide to Construction Project

Understanding the Basics of Construction Project

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Preparing Project Proposal and Awarding Contract

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Preparing Project Proposal and Awarding Contract

A Precise Guide to Construction Project

Preparing Project Proposal and Awarding Contract

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Preparing Project Proposal and Awarding Contract

A Precise Guide to Construction Project

Preparing Project Proposal and Awarding Contract

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

Planning and Scheduling

A Precise Guide to Construction Project

This page is intentionally left blank

Institute of Cost and Management Accountants of Pakistan

A Precise Guide to Construction Project

Planning and Scheduling

A Precise Guide to Construction Project