SYNOPSIS

The cost control function is usually initiated at the inception stage of the project as it is a critical input to ascertaining the feasibility of the project and cashflow planning which affects project financing and drawdown; all these which have impact to the firm’s bottom line be it either from the owner, contractor or the financier (lending institutions).

This function will continue until project completion to ensure that the project is completed within the approved budget by the following:
(i) determining a realistic and appropriate cost estimate and monitoring of its
    physical progress or Value Of Work Done
(ii) cost forecasting
(iii) the provision of cost contingency for uncertainties
(iv) the administration of cost variations (which compliments the contract management function)

Project Cost Control is a Project Management discipline that is deeply integrated with other facets of the project such as Project Financing, Contract Management and Risk Management.

This talk will touch on some of the essential functions of cost control and how it impacts the client, contractor and even the financier.


BIODATA OF SPEAKER

Ir. Faizal A. Sanusi has served the Project Management Technical Division in IEM since 2005, including as its Chairman in 2012.

He has a BSc in Civil Engineering from the George Washington University, USA in 1988 and an MBA from Open University, Malaysia in 2005.

His engineering and project management experience spans across the oil & gas and building industry since he began his career 30 years ago. In his career, he has performed various roles ranging from design engineer, resident engineer,  project engineer, project manager and project advisor for a myriad of engineering projects – civil Infrastructure works, commercial buildings including an intelligent office institutional building, gas processing plants, offshore gas pipeline installations and offshore gas producing platforms. He also challenged himself as an entrepreneur in the business of facilities management for oil and gas on-shore installations and has provided trainings in various project management topics to the Royal Malaysian Navy and private commercial property developers.

Some of his notable career highlights as follows:

- Project Advisor and Project Services Manager for Oil & Gas Exploration & Production MNCs
- Project Services Division Head for a local Offshore Oil & Gas Service Provider
- Project Manager for the Malaysian Securities Commission 4 star intelligent building project
- Director of a local Facilities Management company overseeing Oil & Gas O&M projects

While he is currently the Principal Consultant of Centaur Project Controls Sdn. (a Project Management consulting firm), he mainly indulges his time in creating  project management microapps to aid him in his profession.