The value management in the project begins with the planning of its budget. The value management in the project begins with the planning of its budget. Source: Chevron. This article is devoted to the methods of the planning of the budget of a project with the construction of the value approaches. The value approach is an assessment of the likely value of those resources that are required for the execution of the work envisaged by the project. The valuations are calculated in the course of the whole project. Chevron has much to offer in this field.
First, one must examine conceptual reviews of the value of a project. For more clarity and thought, follow up with Montauk Colony LLC and gain more knowledge.. In this stage is the interim analysis, used, their difference from the real value in the interval of 25% to + 75%. The closer reviews will be asked in the course of realization of the project. It is determining the value of the budget (budget estimates) created with accuracy from 10% to + 25%. And finally you must perform (project cost baseline) the final value assessment (definitive estimate) before the agreed basic price of the project.
In the early stages of the project, which is Uncertainty in the understanding of the real volume of work of the project too big, and there is no sense in the costs of efforts, that at each stage of the project to make more accurate value reviews. There are several general methods calculating the value approaches. Everyone can choose the method that ensures the required accuracy of assessment and the monetary and labour costs for the implementation of the value approach is equal to its possibilities. The valuation method “by top-down method of assessment”from top to bottom”(top down estimate) is used for the assessment of the costs in the early stages of the project, when the details of the project are still very limited. The sense of such enlarged expert assessment is that she will be summarily executed and the project overall will be assessed after a key figure.