Project Cost Management Guidelines
Viksilä, Mila (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024053018398
https://urn.fi/URN:NBN:fi:amk-2024053018398
Tiivistelmä
It has been identified that due to the growth of the case company, projects do not have a consistent cost management process, tasks are largely manual and there has been no time for development. The case company provides project management services for heavy industrial investment projects where costs often exceed budgets, making effective cost management crucial. The objective of this study is to create guidelines for project cost management and aims to make the process more effective.
The research approach of the study is applied action research, known also as design research, using qualitative methods to gather data. The study was conducted in four stages, including three rounds of data collection. The data was collected in interviews and workshops with stakeholders. The first stage, current state analysis, focused identifying the strengths and weaknesses of the current project cost management process. The findings were categorized under four project phases: planning, procurement, construction, and completion. The weaknesses found in current state analysis were used in the second stage to collect ideas, concepts, and best practices from the literature. The ideas from literature were linked to the project phases and summarized as a conceptual framework. In the third stage, the outcomes of previous stages were used as a basis to co-create the initial proposal for project cost management guidelines. Finally, the initial proposal was validated by the decision makers and, based on the feedback received, a final proposal of the guidelines was produced.
The final proposal contains 19 guidelines divided into four phases, directing project cost managers to perform specific tasks in each phase. By following the guidelines, projects will have a consistent process, increased efficiency, and data flow from one project to the next.
The research approach of the study is applied action research, known also as design research, using qualitative methods to gather data. The study was conducted in four stages, including three rounds of data collection. The data was collected in interviews and workshops with stakeholders. The first stage, current state analysis, focused identifying the strengths and weaknesses of the current project cost management process. The findings were categorized under four project phases: planning, procurement, construction, and completion. The weaknesses found in current state analysis were used in the second stage to collect ideas, concepts, and best practices from the literature. The ideas from literature were linked to the project phases and summarized as a conceptual framework. In the third stage, the outcomes of previous stages were used as a basis to co-create the initial proposal for project cost management guidelines. Finally, the initial proposal was validated by the decision makers and, based on the feedback received, a final proposal of the guidelines was produced.
The final proposal contains 19 guidelines divided into four phases, directing project cost managers to perform specific tasks in each phase. By following the guidelines, projects will have a consistent process, increased efficiency, and data flow from one project to the next.