Control contracts against agreed budgets

URN: LANFe20
Business Sectors (Suites): Fencing
Developed by: Lantra
Approved on: 01 Feb 2019

Overview

This standard describes how to control contracts against agreed budgets. This standard covers: • developing and implementing quantity and cost control systems • calculating work values and quantity and cost data from estimates of work quantity and payment rates. This standard is suitable for contract managers, surveyors, buyers and quality managers.


Performance criteria

You must be able to:

  1. develop and implement the relevant quantity and cost control

    systems in order to control contracts against their agreed budgets,

    and provide indication of variations

    1. collect, record and pass on quantity and cost data, in accordance

    with company requirements

    1. calculate the work values and quantity and cost data from

    estimates of work quantity and payment rates

    1. prepare accurate quantity and cost data and present it in a format

    that will help decision making

    1. identify variations and trends in quantity and cost data, quantify

    and cost these and record and report them, in accordance with

    company requirements

    1. investigate any variations and agree and implement relevant

    action

    1. develop and implement systems to identify opportunities for cost

    savings


Knowledge and Understanding

You need to know and understand:

  1. how to develop and implement the relevant quantity and cost

    control systems to control contracts against their agreed budgets,

    and provide indication of variations

    1. how to collect and record quantity and cost data and pass it on, in

    accordance with company requirements

    1. how to calculate the work values and quantity and cost data from

    estimates of work quantity and payment rates

    1. how to prepare and present accurate quantity and cost data in a

    format that will inform decision making

    1. how to identify variations and trends in quantity and cost data

    2. how to quantify and cost trends in quantity and cost data

    3. how to investigate any variations and agree and implement

    appropriate action

    1. how to implement systems to identify opportunities for cost

    savings


Scope/range


Scope Performance


Scope Knowledge


Values


Behaviours


Skills


Glossary


Links To Other NOS


External Links


Version Number

2

Indicative Review Date

28 Feb 2024

Validity

Current

Status

Original

Originating Organisation

Lantra

Original URN

lanfe20

Relevant Occupations

Fencing

SOC Code

5319

Keywords

Budgets; Contracts; Costs; Quantity