Research on the cost method of Harbin electric company’s project: Taking the Turkey SOMA thermal power project contracted by the company as an example

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Project Title: Research on the cost method of Harbin electric company’s project: Taking the Turkey SOMA thermal power project contracted by the company as an example
Author: Mr. Huang Xiao
Advisor: Associate Professor Li Chiao-Ming
Degree: Master of Business Administration
Major: Business Administration
Faculty: Graduate Schools
Academic year: 2017

Citation

Huang, Xiao. (2017). Research on the cost method of Harbin electric company’s project: Taking the Turkey SOMA thermal power project contracted by the company as an example. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

In management process of project, the management on the cost control plays an important role in the successfully developing of the project. From the beginning of the Turkey SOMA project that is undertook by Harbin Electric International Engineering Company, the schedule and quality of the project are very smoothly. But some problems occur in the process of cost control and the costs surpass the plan too much. Thus, this paper starts to do the research on the cost control of Turkey SOMA project and the author hopes to provide reference for the cost control.

Firstly, this paper summarizes many literatures on the definition and methods of the cost control, and analyses the schedule situation of SOMA project, awareness of cost control, level of cost control and the situation of project information management. Secondly, the author also summarizes many problems during the cost control of the project. Although the administrative department of this project has tried to perfect the activities of the cost control, there are still many problems in the process of SOMA project cost control such as imperfective basis of cost control, unscientific method, and worse rules of systems and so on. The reasons of the problems are multiple. They are unreasonable cost budget planning, ignoring the relationship between project cost and schedule, no dealing well the relationship between project cost and quality. Furthermore, combining with the working schedule of the project, as to these problems, the paper designs some plan to promote the cost control of SOMA project, such as perfecting the WBS systems, using the ABC cost control method and completing the rules of the systems. At last, the author points some supporting measures to make the plans smoothly. The measures are as follows: pushing forward the informational construction project of cost control, balancing the relationship between cost and schedule, adjusting the relationships between cost and quality.

 

Keywords:  Turkey, thermal power plant project, cost control, project schedule, project quality.


Research on the cost method of Harbin electric company’s project: Taking the Turkey SOMA thermal power project contracted by the company as an example

International Master in Business Administration (IMBA), Siam University, Bangkok, Thailand

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