Project Accounting Practices and Accounting Policies – Definitions and Guidance Notes

The purpose of this guidance note is to provide definitions and guidance for critical accounting practices and to communicate the principal accounting policies. Responsibilities The following personnel have responsibilities mentioned in this procedure: – Corporate Heads of Finance (Chief Financial Officer / Finance Director) – Project Director/Manager – Project Commercial Manager – Finance Manager Principal… Read More »

Petty Cash Reconciliation Procedure & Policy for Cash Handling

The purpose of this procedure is to define the requirement for the management of Petty Cash in offices and any type of projects as applicable. This procedure describes the process for the establishment and changes to the Petty cash float and the processing of claims and reimbursement of cash. This procedure applies to all offices… Read More »

Corporate Commercial Project Review Procedure

Purpose: To provide a system for a review of projects by impartial, independent and experienced personnel to ensure that required performance standards are being met and to assist and advise the related parties as appropriate. Scope: This procedure is applicable for all construction projects of a company. The scope shall include, but not be limited to, the… Read More »

Tendering process in construction tenders

Tendering process in construction tenders helps in the selection of a contractor for performing the construction works in a project. Tendering process is the most important step for success of any project. Because wrong choice may lead to a delay in project completion and unhappy client / contractor relationship. A bad contractor may end up… Read More »

Safe Work Method Statement & Risk Assessment for Excavation and Trenching

This safe work method statement SWMS details how specific risks associated with excavation, trenching and the location of underground services are to be managed and controlled. It outlines the common risks and dangers associated with this work and how to best control them. The control measures listed in this SWMS must be implemented on site.… Read More »

Commercial Management Procedure for Project Cash flow and Flexible Budget Reporting

1.0 Purpose To set out a standard methodology for the forecasting and reporting of project revenue, project costs, net cash position and monthly profit & loss to facilitate divisional and overall company accounts management. 2.0 Scope This procedure is applicable for all projects. 3.0 References Cost Codes & Budget Management Project Reporting Pack Subcontractor Liability… Read More »

Project Management Monthly Reporting Procedure & Formats

1. Purpose The purpose of this procedure is to provide a standard monthly project report formats and guidelines, which facilitate the accurate and regular reporting of a project’s progress and status to senior management. The contents of the Monthly Project Report represent the minimum reporting requirements. 2. Scope This procedure is applicable for all projects… Read More »