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Cost Management Training

Cost Controls play a valuable role in managing a project to achieve the maximum profit. Tracking cost is easy and requires very little time and effort from the project team. Whether you track costs with sophisticated computer programs or with pencil and graph paper, this activity can save money. Our methods use simple trend sheets that can identify bad items and give the management team an opportunity to correct activities before they lose money. Trend sheets are also a good tool for identifying potential change orders or delays.

Track Guy Consultants provide the necessary tools to help with projections of cost and remedial action to fix a potential problem before it affects the bottom line.

Track Guy Consultants Cost Control System

Preparing a bid for Trackwork can be difficult if the right terms are not learned. Whether you are a contractor or a consultant developing an Engineers Estimate, knowing the right people to call for good pricing can make or break your estimate. After a project is won, tracking cost can be just as important as doing the work.

We offer a Cost Control System specific to railroad track construction. This has been developed over many years and applied on numerous projects. Track Guy's experience with projections and crew sizes are invaluable when trying to determine if efficiency is achieved. The input is very simple, weekly production and weekly cost, the rest is calculated through the program and projections are given after the first week. As the project progresses, the more accurate the projection. One sheet is assigned to each activity. Information on each sheet is as follows:

A graph showing weekly unit cost with a solid straight line for the budget and a dashed line for average unit cost. Dotted line below solid line is a good thing (beating budget).

  • An area for notes and comments
  • Total labor budget and unit budget
  • Total labor cost to date and unit cost
  • Cost code and Activity
  • Total quantity and unit of measure
  • Total cost projection and unit cost projection
  • Weekly quantities with total to date
  • Percentage complete by money and quantity (a very good indicator)
Cost Management Weekly Trend Sheet

Using The Trend Sheet for Cost Control


Cost Management Weekly Trend Sheet

Trend sheets are easy to read and fun to use. Trend Sheets are very popular with field superintendents because they can be given weekly projections and identify bad activities before they affect profit. They can also help with crew assignments. Trend sheets are an outstanding means of motivation and accountability. A superintendent or foreman must have cost control tools so they can assign the right people to the right activity for the most cost effectiveness. Project Managers can use this information as an indicator for potential change orders or overruns.  Use the trend sheets as a tool. Analyze them each week. Graph projections on a consistent interval to establish trends and identify problems.

Simple Ways to Control Cost

  •  Know your budget for each activity
  •  Plan your work in great detail, then plan it again
  •  Track cost weekly and in some cases, daily
  •  Never run out of material, tools or equipment
  •  Once an activity is started, never let it stop, until it is done
  •  Do not start until you are ready
  •  Focus on the tough ones with the greatest exposure (greatest risk)
Cost Management Weekly Trend Sheet

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