COST MANAGEMENT
In 2013, Takamul Project Management Company began providing a full range of cost management
services, We have provided cost management services for more than 40 projects, of various types and
magnitude, with a total project budgets of over SAR 2 billion.
Effective cost management services have been one of Takamul’s major strengths. Over the years, we have
provided reliable project budget estimates and delivered projects within approved project budgets to our
valued clients.
In 2023, Takamul decided to establish a dedicated Cost management Division to cater the Saudi market’s growing understanding and demand for professional cost consultancy services, the division is lead and managed effectively to ensure it has the right professionals and specialist equipped with appropriate tools and skills for the job to deliver high quality cost management consultancy service
Utilizing the project cost data accumulated over a decade, Takamul has developed a cost database for
construction costs in Saudi Arabia. This allows us to generate reliable preliminary cost estimates for our
clients, especially for project feasibility and budgeting, in an expeditious manner.
Takamul is among a very few consulting firms in the GCC having an organizational membership of the American Association of Cost Engineering International (AACEI).
A. PROJECT INITIATION:
- Preliminary project cost estimates
- Budget proposals
- Cashflow preparation for project financing
- Develop & Project Budget estimates and cost plans
- Review and validate cost estimates
- Value Engineering participation
- Commercial management support
C. CONSTRUCTION:
- Progress payment validation
- Invoice review and approval
- Cost reports preparation and issuance
- Change / Variation order cost estimates and evaluation
- Final contract values agreement
- Penalty assessment
- Contract account finalization
- Capital cost breakdown for asset depreciation
precision, adherence to budgets, and client satisfaction.