Category: Cost Control

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Cost Control

How to ensure an effective procurement process for projects in your company

Making sure your company’s procurement process runs smoothly is like having a strong backbone for your projects. This is...

June 3, 2024

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Cost Control

Effective Cost Control in construction projects

Budget overruns or cost overruns are unfortunately not unfamiliar concepts, especially for those working within the construction industry. Challenges...

May 7, 2024

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Purchase order

10 Reasons for Using a Purchase Order Approval Software

Using software for purchase order (PO) approval, does not only save you tons of time but comes with additional...

January 8, 2024

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Business

What is Committed Expenditure?

Every time you order something from a supplier, you make a commitment to pay something in the future, also...

September 10, 2023

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Purchase order

What is a Purchase Order (PO)

A purchase order (often referred to as PO) is a legally binding document that is issued by a buyer...

September 8, 2023

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Cost Control

What is 3-Way Matching?

What is a 3-Way Matching Process A 3-way matching process is an internal control procedure that compares three documents:...

September 4, 2023

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Cost Control

What are Liquidated Damages?

Definition of Liquidated Damages Liquidated damages are a pre-agreed amount of money that one party to a contract agrees...

September 4, 2023

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Cash-Flow

What is a Cash Flow Forecast and Why is it Critical in Your Business?

For most businesses, a cash flow forecast is the single most important factor for keeping control of their business....

August 31, 2023

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Cash-Flow

What is commitment accounting?

What is commitment accounting? Every time you order something from a supplier, you make a commitment to pay in...

May 24, 2023

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Business

What is a Cost Breakdown Structure (CBS) and why is it important?

What is a Cost Breakdown Structure (CBS) and why is it important? A vital part of project cost controlling...

April 21, 2023

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Cost Control

Improve cost control with 7 simple steps

In this article we will look at some simple steps to how you can improve cost control in your...

October 27, 2022

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Cash-Flow

Using Purchase Orders to Improve Cash-Flow Forecasting in Project-based businesses

In this article we will be looking at improving cash-flow forecasting in project-based businesses. According to the US Bureau...

April 21, 2022

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