4Cite specialises in the development, implementation, management and assessment of cost control mechanisms on projects. We assist project teams develop and maintain high quality project cost records specifically with respect to managing progress claims, variations and delay claims.
High quality cost tracking mechanisms should allow the project team to understand their cost position at any point in time. The cost tracking mechanism should reflect the style of contract and the reporting required and size and complexity of the project. Oftentimes, we see issues around lack of detail or incorrect allocations of cost codes and sometimes no reporting whatsoever.
It is an absolute imperative that the cost control mechanism that is utilised be robust, sufficiently detailed and updated constantly in order to properly manage the financial element of any project.