ABSTRACT
For the purposes of this text, post-contract cost control is defined as the control of costs after the contract has been awarded to carry out the building work. Pareto's Law states that: ' In any series of elements to be controlled, a selected small fraction of items in terms of number of elements will always account for a large fraction in terms of effect.' The significance of this in controlling construction costs is that there are potentially a large number of cost centres that can be created. Any cost-control system used by the contractor must ensure payment for work done by having automatic triggers built in. The client needs a system that does not permit any alteration to the tender cost of the contract without authorisation by either the client or representatives. Cash flow is the transfer of money into and out of a company. An S-curve is a graph plotting the cumulative income against time.
