Cost management guidelines nta

  • What is the cost management policy?

    A cost management plan is an outline of a project's estimated costs and required resources and how to use and control them.
    This document is an important part of the project planning process and helps keep project costs within budget..

  • 11 key elements of a cost management plan

    Measurement units.
    The first section in a cost management plan is the units of measurement portion. Location. Earned value management. Percent completion. Control thresholds. Precision levels. Levels of accuracy. Reporting formats.
The NTA Cost Management Guidelines have been designed to assist Sponsoring Agencies with the development of appropriate scheme budgets in line with the requirements of the NTA Project Approval Guidelines (PAG's Phase 1-7).

What are the cost management guidelines?

These Cost Management Guidelines have been developed to assist Sponsoring Agencies at each phase in the project life cycle.
The Guidelines have been structured to allow Sponsoring Agencies to easily identify processes, primary and supplementary phase deliverables and minimum reporting requirements.

,

What are the NTA cost management guidelines?

The NTA Cost Management Guidelines have been designed to assist Sponsoring Agencies with the development of appropriate scheme budgets in line with the requirements of the NTA Project Approval Guidelines (PAG’s Phase 1-7).

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What if the cost management requirements are unsuitable for a project?

Unless otherwise approved in writing by the NTA, the cost management requirements identified in this section shall be provided as a minimum.
If these Cost Management Guidelines are considered unsuitable for specific projects, the Sponsoring Agency may submit alternative proposals to the NTA for acceptance.

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What responsibilities does the NTA have?

As an Approving Authority, the NTA has accountability for the expenditure of public funds by Sponsoring Agencies.
Consequently, the NTA has a duty to oversee budgeting and management of the costs of capital projects.
These Guidelines define the minimum project cost management requirements for NTA approved and/or sponsored projects.


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