Cost and performance control
Be in control of your project costs.
We implement efficient monitoring for the estimation of project costs.
Cost control and performance management are essential to the management and control of your projects. Controlling costs allows you to manage your budget and anticipate any financial risks. It therefore requires two distinct tasks driven by the project manager: budget management and risk planning.
Performance management enables the success of a project to be assessed throughout its life cycle, using indicators, benchmarks and targets. These two specialities go hand in hand and play a major role in the success of the project.
Be in control of your project costs.
PROPRISM can provide you with all the keys you need to successfully complete your project, by drawing on its cost and performance management experience. Whether it’s the pharmaceutical, chemical, energy, marine, construction, transport and infrastructure or engineering industries, we operate in a wide range of sectors and possess solid experience in each.
An incomparable cost management strategy
We implement efficient monitoring for the estimation of project costs.
The economic environment is demanding tighter and tighter budgets for projects. Appropriate monitoring of costs and performance is therefore essential. Establishing a budget forecast is good. Keeping to it is better!
PROPRISM help you to define and control your budget, using the Earned Value Management (EVM) method. EVM provides a link between project planning and expenditure, to ensure that the project is on track and on time.
We also put in place other high-performance tools such as dashboards to monitor indicators and improve project management control.
Cost control to meet the project budget
Cost control is essential in the management of your project for reasons of efficiency, but also to be able to accurately estimate the final cost of the project. It allows you to identify the different areas of expenditure and try to optimise them to increase profits, but also to ensure that the budget does not exceed what was pre-defined.
We apply the cost control fundamentals by initiating a baseline project budget. This budget is derived from the cost estimate and permits tracking, variance analysis and calculation of project performance, as well as project progress. In short, we measure the gaps between the defined budget and what is actually spent, and establish strategies to achieve your objectives.
Thanks to controlled cost management, PROPRISM makes it easier to take decisions in the event of a risk, providing upstream responses to the most worrying scenarios.
Earned Value Management and Change
Closely linked to planning, the integration of costs allows the establishment of cash flow, expense or performance curves by comparing the actual with the planned, and facilitates the analysis of differences.
We use the earned value method (EVM) to see if the actual project costs remain true or if they are likely to deviate. The recognised EVM method enables the project’s performance objectives to be effectively managed by comparing earned value with expected value.
Project control becomes more important as changes occur due to unanticipated conditions and modifications. We understand that respecting budgetary limits is essential. This is why all modifications are traced in order to determine the additional costs.
Analysis of performance allows management to be warned of a potential risk of not meeting cost and deadline targets.
Probability and budget forecasting
Probability and budget forecasting in project management play a crucial role in the planning and execution of any project. The ability to accurately estimate the costs and expenses associated with a project is essential for effective financial management and informed decision-making.
The calculation of probability and the integration of risks is carried out via the Monte Carlo simulation methodology (multiple probability simulation). The Monte Carlo method, a genuine risk management method, is used to estimate the probability of an event occurring. Applied to project management, it can be used to determine the probability of the cost at the end of the project. This method adds visible and credible significant value to the cost control process.
Looking for a new challenge?
PROPRISM
PROPRISM is first and foremost a team of project management experts available to serve YOUR projects.
Our in-depth industry knowledge and our mastery of the most advanced project management techniques (PMO, management, project planning & project monitoring software, etc.) make PROPRISM a strategic partner of choice for the execution of your most ambitious projects.
20+
Years
expertise in managing your projects
Our know-how
With many years of experience, our cross-sector skills based know-how is totally unique.
Your guarantees
Our team guarantees the success of all your projects on the basis of reliable forecasts, with no unpleasant surprises.