10 Questions
What is the primary objective of management control in a construction company?
To monitor and correct deviations from plans
Which of the following is a key component of the management control system in a construction company?
Performance measurement and evaluation
What is the role of a quantity surveyor in the management control process of a construction company?
To monitor and control costs
What is the purpose of variance analysis in management control?
To determine the cause of deviations from plans
Which of the following is a limitation of management control in a construction company?
It is a reactive process
What is the primary focus of cost control in a construction company?
To minimize project costs and maximize profitability
Which of the following tools is commonly used in management control to identify and correct deviations from planned costs?
Earned value management
What is the primary benefit of implementing a management control system in a construction company?
Better decision-making through data-driven insights
Which of the following is a common challenge faced by construction companies in implementing effective cost control measures?
All of the above
What is the role of a head quantity surveyor in ensuring effective cost control in a construction company?
To provide expert advice on cost management strategies
Study Notes
Management Control in Construction Company
- The primary objective of management control in a construction company is to ensure that the project is completed within the predetermined constraints of time, cost, and quality.
Components of Management Control System
- A key component of the management control system in a construction company is the establishment of standards and benchmarks for performance measurement.
Role of Quantity Surveyor
- The role of a quantity surveyor in the management control process of a construction company is to monitor and control the cost of the project by measuring and valuing the work done.
Variance Analysis
- The purpose of variance analysis in management control is to identify the differences between the planned and actual performance, and take corrective actions to minimize the deviations.
Limitations of Management Control
- One of the limitations of management control in a construction company is that it may not be able to control external factors such as weather conditions, changes in government regulations, or unexpected site conditions.
Test Purpose
- Evaluating knowledge of management control and cost control in a construction company
Test Administration
- Conducted by a head quantity surveyor
Test Focus
- Management control of a construction company
- Cost control of a construction company
Test your knowledge on the management control system in a construction company, including its objectives, components, and the role of a quantity surveyor. Learn about variance analysis and limitations of management control.
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