04 principles of determination and management of information technology application investment project costs
On February 24, 2020, the Ministry of Information and Communications issues the Circular No. 04/2020/TT-BTTTT prescribing the determination and management of costs of information technology application investment projects.
Accordingly, the determination and management of information technology application investment project costs must comply with 04 principles as follows: To ensure objectives and efficiency of information technology application investment projects; Total investment, cost estimates, cost norms and unit prices for information technology application shall be calculated by proper methods and must include all cost items under regulations; The State shall manage costs by promulgating, and guiding and inspecting the implementation of, regulations on cost management; Project owners shall take responsibility for cost management from the stage of investment preparation to the investment completion and putting of projects’ products into operation and use.
The formulation of information technology application cost norms must comply with the following order: To make a list of jobs, stating technical and technological requirements, implementation measures, etc.; To determine components of a job from the stage of preparation to completion of the job; To determine shrinkage of materials, labor and construction machinery; To formulate norms based on shrinkage of materials, labor and construction machinery.
This Circular takes effect on April 09, 2020.