The Implementation of Modern Buildings in Both Methods Research Paper

The Implementation of Modern Buildings in Both Methods - Research Paper Example According to Pauwels, et al, (2009), the adoption of cost control used in many aspects of construction and some skills are important for controlling the cost in the design processes of project construction. The skills and implements could be useful in the construction industry in optimizing the design process and provide beneficial influence by increasing the number of successful projects hence promoting the development of the construction industry as a whole. In these modern times, the competition within the construction industry is always on the increase and the profit margins are continuously reducing. This is because all the investment in respect to construction projects is done with maximal benefit as the bottom-line. In any case, the best way for construction companies to keep the high profit as well as position in the market in this dynamic environment, the best techniques and methods are employed as a cost control mechanism to the project. The cost control in the financial ma nagement aspect of construction is vital in project management in the whole life cycle of a project. The success in managing costs affirms that the by-products of ay project are financially viable and worth the trouble. Cost control is a way of expressing business plans in financial terms. This expression in terms of money dimension focusing on the project plan and is a true representation of the maximum amount of money a client has budgeted for a project. Laying emphasis on the future, they set the foundation for active control management by recognizing components of the project in need of quick corrective actions to achieve the desired outcome.