Project controls provide the capability to reveal trends toward cost overrun and/or schedule slippage. Identifying those trends early is a major factor in ensuring successful project management and reducing risk. This is particularly important as projects become increasingly more complex and demanding. Project planning provides the basis of effective project control, producing network-based CPM schedules, network calculations, resource scheduling, forecasting and ‘what if’ testing. Project control emphasises goals, the flow of information, time and cost control, and change and risk management.
Lack of a formal progress updating procedure can cause failure because, without it, problems and delays will not be recognized until too late.
Even a “perfect” programme becomes outdated unless it is updated on a regular basis. On most projects, programmes are updated monthly, but it is not uncommon to update programmes weekly or even daily.
Regular revisions of a programme are important because the initial baseline programme is merely a plan with regards to what needs to be accomplished in order to achieve completion of the project on-time. How the project actually reaches completion will most likely vary greatly from the original baseline programme, which is why regular programme revisions are crucial.
A revised programme not only records progress at the time of the revision, but should also review and introduce if necessary activity logic revisions to reflect current intent. These logic revisions may result in changes to the original baseline critical path.
Involves the updating of the Critical Path Method (CPM) schedules and cost models throughout the project using accurate progress data. Change events and delays are also analysed. This is required for ongoing risk analysis & mitigation
Earned Value Analysis
Earned Value Analysis (EVA) is a performance measurement which identifies the status of a project at a given point in time regarding both cost and time. It enables an ongoing comparison between target progress and cost against actual progress and cost. This is achieved by relating the current budget for an activity and its percentage complete. Earned value is also sometimes called the Budgeted Cost of Work Performed (BCWP). EVA provides considerable benefits to the monitoring and control process but requires rigorous Programme Management to be implemented effectively.
Provision of tailored training programmes to enable the development of internal client skills required to design and implement effective project control systems. We also provide workshops/seminars to help clients develop and communicate the agreed project control strategy and systems.