In the USA, the National Highway System (NHS) Designation Act came into effect in November 1995. It requires every NHS project over $25 million to be subject to a life cycle cost analysis. In the above example, the initial capital... (Continue reading)
Materials management is an important element in project planning and control. Materials represent a major expense in construction, so minimizing procurement or purchase costs presents important opportunities for reducing costs. Poor materials management can also result in large and avoidable... (Continue reading)