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Problems and Countermeasures of Cost Budget Management of Construction Project

Project Title: Problems and Countermeasures of Cost Budget Management of Construction Project
Author: Miss Wang Kexin
Advisor: Associate Professor Dr. Qiu Chao
Degree: Master of Business Administration
Major: International Business Management
Faculty: Graduate Schools
Academic year: 2020
Url:

Published:

Conference
Conference Proceedings
National and International Academic Conference “Innovation and Management for Sustainability” 9-10 July 2020

Citation

Wang, Kexin. (2020). Problems and countermeasures of cost budget management of construction project. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

Project costs are predictable future cost that not only improves the financial management level of the project, but also effectively controls the cost of values, which is an essential part of project implementation.

There are many problems in the project cost management of the DAQING CHUANGYECHENG. Effective cost control, direct labor, direct materials and manufacturing costs are needed to calculate, adjust to truly improve the level of cost budget management access to higher economic efficiency. This project used mix research method with the following process: 1) Collect financial data of cost budget; 2) Find out the problem of cost budget management of DAQING CHUANGYECHENG residential; 3) It can be seen that according to the specific analysis of the problem. This study budget management organization was not perfect, cost budget management method was not scientific, cost budget supervision was strict and other issues.

This study offered some suggestions to solve the problems with some concrete countermeasures, such as: Don’t give all power to the cost budget management center. The board of directors should participate in cost budget management, improving the organization system; Adopt flexible budgeting method and cost refinement operations; Trinity operating mechanism, establishing and perfecting the examination system. The whole method could solve the project cost budget management problem of residential building project and it can help more enterprises to save the cost of engineering projects.

Keywords: Cost Budget, Engineering Cost, Organizational structure.


Problems and Countermeasures of Cost Budget Management of Construction Project

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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