【正文】 ruction project management. Valuation basis for current construction cost Basic materials for calculation of construction cost usually include construction cost quota, construction cost expense quota, cost index, basic unit price, quantities calculation rule and relevant economic rules and policies issued by petent departments of the government, etc. It includes index of estimate (budgetary estimate index), budgetary estimate quota, budgetary quota (prehensive budgetary quota), expense quota (standard), labor quota, workingday norm, materials, budgetary price of facilities, direct price index of a project, material price index and cost index. And also included is valuation criterion of consumption quota and list of items in recent two years. Valuation model of current construction cost Valuation model is a basic aspect of construction cost management. Construction cost management is a governmental behavior, while valuation model is a means for a country to manage and control construction cost. There are two construction valuation models at 外文翻譯（譯文） 12 present in China, namely, valuation model according to quota and one according to bill of quantities. Valuation model according to quota Valuation model according to quota is an effective model adopted during the transition period from planned economy to market economy. Determination of construction cost through valuation model according to quota prevents overrated valuation and standards and prices pressed down to some extent, because budgetary quota standardizes rate of consumption and a variety of documents stipulate manpower, materials, unit price of machines and all sorts of service fee norms, which reflects normativity, unitarity and rationality of construction cost. However, it has an inhibited effect upon market petition, and is not favorable for a construction enterprise to improve its technique, strengthen its management and enhance its labor efficiency and market petition. Valuation model according to bill of quantities Valuation model according to bill of quantities is a construction cost determination model proposed recently. In this model, the government merely unifies project code, project name, unit of measurement and measurement rule of quantities. Each construction enterprise has its selfdetermination to quote a price according to its own situation in a tender offer, and price of building products is formed thereby in the process of bidding. Cost control in the process of implementation For a long time, technique and economy has been separated in the field of project construction. Restrained by the planned economy, there lacks the economic concept in the minds of our engineers and technicians, because they regard reduction of construction cost as a duty of financial personnel which has nothing to do with themselves. However, the primary responsibility of financial and preliminary budget personnel is to act in accordance with financial system. Usually, they are not familiar with construction technique, and know little or even nothing about changes of various relations in project design, construction content and implementation of construction. Under such a circumstance, they have no choice but to mechanically work out or audit the expenditure from a financial perspective, which results in mutual separation of technique and economy. They just do what they do, which negatively reflects price of quantities of a project that has been pleted, so it is difficult to control construction cost rationally and effectively. 外文翻譯（譯文） 13 Control of cost in the process of construction Implementation stage of a construction project is a stage which requires the most assets in the whole process of a project construction, and is also a vital stage for pecuniary resources to transform into building entities. Cost control at the implementation stage refers to confine construction cost within a scheduled control scope through a scientific cost control theory and method on the condition of ensuring project quality and time limit. The process of generation of a building entity is inreversible, so if effective automatic control and precontrol cannot be conducted over construction cost, then economic loss might be caused that cannot be made up for. Analysis of major factors that affect construction cost at the stage of implementation Implementation stage of a project refers to the period from pletion of construction documents design and examination and submission to the construction party to the final pletion acceptance of the project and until it is put into use. According to the basic operation procedure of the implementation stage of a construction project, formation of a construction cost has to undergo such major aspects as bidding, contract signing and management, joint auditing of a shop drawing, investigation of a construction management plan, material management and pletion settlement, etc. All these aspects affect construction cost settlement to different degrees. In that process, after evolving from budgetary price, price for successful bidding, refurbishing cost for a contract, the construction cost is finally determined in the form of settlement price for project pletion. Factors affecting construction cost are various, but from the perspective of analysis of cost formation, there are primarily the following reasons. 1) Influences of a project bidding. Bidding can determine price for successful bidding, while contract price is determined on the basis of price for successful bidding. If something goes wrong with bidding, then it might result in distortion of the price for bidding, and it is impossible to provide accurate and reliable foundation for cost control, and even result in losing control over the cost. 2) Influences of contract signing and management.