Financial and Cost Reporting

Question 1

What is the purpose of cost reporting

Answer 1

to provide an overview of the clients current financial commitment on the project.
To inform the client of the likely outturn cost of the project, including forecasting the outturn cost against the budget/contract sum
Give the client an understanding of potential savings or additional funds that may be required.

Question 2

What information did you include within your post contract cost report for WHBG or BHS?

Answer 2

I included:

1) An executive summary
2) Commentary Page of change in the month of reporting
3) Compensation Events
4) Early Warnings
4) Cashflow forecasting Vs Actual