Important Question And Answer: Civil - Construction Planning - Cost Control, Monitoring and Accounting

1.      List out any 5 indirect cost.

1.     Temporary utility ,

2.     Cleaning ,

3.     Unloading ,

4.     Ware housing ,

5.     Work shop

2.      What is meant by Contingencies?

Contingency is a cushion of cost to deal with uncertainities.Few factors resulting in contingencies are minor design changes, under estimate of cost, lack of experience, unanticipated price changes, safety problems etc.

3.  What is meant by Budget?

Budget is an estimate of cost planned to be spent to complete a particular activity.

4. What are the types of cost flow?

1) Cash Inflow

2) Cash outflow

5. What is meant by Cost Forecasting?

Cost Forecasting is the requirement of cost to continue with the project at the desired speed.

6.  What is meant by Cash Flow control?

Cash Flow control is the additional planning required to arrange the cash to meet the demand for the funds.

7.    What are the sources of cash inflow?

1.   Sales of goods,

2. Investment from the owner,

3. Debt financing (loan),

4. Sales of shares

8.    What are the sources of cash outflow?

1.   Purchase of shares,

2. Payment of dues on loan,

3. Payment of bills,

4.Taxes

9.    List out the cost control problems

Equipment rate variance Equipment operating variance Labour rate variance Material wastages

Equipment variance Other common reasons

10.        What are the project cost budget monitoring parameters?

Budget cost of work Scheduled(BCWS) Budget cost of work Performed(BCWP) Actual cost of work Performed (ACWP)

11.        What are the methods of measuring progress of work?

a)     Ratio method

b)     Repetitive type of work progress

c)      Non Repetitive complex work progress

d)     Start/Finish method

12.What are the types of accounting?

Financial Accounting

2) Cost Accounting

13.What are the types of Assets?

1) Current Assets

2) Liquid Assets

3) Fixed Assets

4) Intangible Assets

14.What are the types of Liabilities?

1) Current Liabilities

2) Fixed Liabilities

15.        Give the hourly Productivity forecasting formula.

Cf=w*hf*ut

Where,

Cf=Total units of work W=Total units of work hf=Time Per unit ut=Cost per unit time