Project Controls

Challenge

Projects come in all shapes and sizes. But success is always a matter of the same key factors. Most notably, delivering on budget and schedule—the ultimate domain of project controls.

Brownfield or greenfield. During shutdown or on regular time. Traditional or fast-tracked. Each project is different, varying as to location, execution strategies, contractual arrangements, labor availability, and logistical challenges. Regardless of the particulars, costs need to be estimated and schedules developed to establish realistic baselines for projects to be appraised and approved.

Estimators and planners must take all these factors into account. They bring their skills and knowledge, along with the project team, to develop realistic cost estimates and schedules during the project planning phase. Project risk analysis also needs to be performed, considering all the elements and possibilities, and how any or all of them could affect the ultimate result.

A project controls team needs to interface with all disciplines. It's the hub of the information wheel, receiving data from all levels, assessing, massaging, and transforming it into concise information and analysis for decision-making by managers. It's all about getting the right information to the right people at the right time. Because better information means better decision-making. And better decisions unlock value.

Capabilities

Project controls management and systems

Because no two projects are ever exactly alike, controls must reflect the size and parameters of the task. Our skilled teams are led by experienced project controls managers who see the bigger picture. The starting point is the project controls plan, a component of the larger project execution plan.

Our project-management system integrates all project aspects to ensure correct, real-time information and a streamlined effort. Control charts and key metrics pinpoint potential variations from plan. We take remedial action to deliver your project and not only meet, but exceed, your expectations for cost and schedule.

Estimating

As a project's scope is developed during the front-end planning phases, capital costs are estimated using best-practice techniques and methods. Throughout the project, estimators are called in to help identify cost trends. Their analyses can identify significant savings opportunities when evaluating contractors' requests for extra work.

Planning and scheduling

Time is money—cost and schedule are inextricably linked. Our planners and schedulers develop detailed timelines that incorporate all project activities, from engineering through to start-up. Deliverables are scrutinized for potential delays that can drive up projects costs. Plans are made to protect the project schedule whenever necessary.

Progress measurement

Regular, updated progress is critical to assess schedule performance, the time and cost to complete the work. Earned value methods are used to establish the progress of every phase. Changes are carefully incorporated to mitigate risk.

Cost management

Cost management runs through every aspect of the projects we work on. A comprehensive trending system underscores cost control and keeps budgets in line. We emphasize budget and forecast variance analysis, identifying causes and prescribing actions to be taken.

Change management

From design through to construction and handover, change management is everyone’s responsibility. Modifications to scope, design, site conditions, schedule, and more, are relentlessly flagged for appropriate action. Scope, time, cost and risk—the essentials are incorporated into the planning, cost management, and progress framework for control.

Blogs

Heavy-tailed risk events and how to deal with them

Pouya Zangeneh

Studying the tails of distributions is essential for risk management. Whether in probabilistic risk assessment or even in qualitative hazard studies, risk management aims to understand tail events. Risk measures such as value at risk or expected shortfall are essentially measures of the distributions’ tails. So, if you’re concerned about your project cost overrun risks, for example, you’re worried about the tail of the cost distribution.

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