Project Control: Integrating Cost and Schedule in Construction

Project Control: Integrating Cost and Schedule in Construction

Project Control: Integrating Cost and Schedule in Construction

Project Control: Integrating Cost and Schedule in Construction

Synopsis

The key to successful project control is the fusing of cost to schedule whereby the management of one helps to manage the other. Project Control: Integrating Cost and Schedule in Construction explores the reasons behind and the methodologies for proper planning, monitoring, and controlling both project costs and schedule. Filling a current void the topic of project control applied to the construction industry, it is essential reading for students and professionals alike.

Excerpt

Successful projects do not happen by accident. Far too often, construction projects fail due to a lack of proper management. In today’s competitive market, diligent management is essential not only to deliver an individual project, but also to stay in business. In this book, the author analyzes the concept of project control and how it is critical to achieve project success.

Managing the schedule can help manage costs. Projects frequently fail because contractors focus on cost or schedule, not both simultaneously. We all have heard the phrase “time is money.” This truth cannot be overstated. Project Control explains how schedule and budget are integrated and how both can be effectively managed. In a systematic, easy-to-understand format, the author discusses how to anticipate, prepare for, and resolve the inevitable road bumps that commonly occur on construction projects large and small.

A key component that is stressed throughout the text is planning. Sounds simple, right? It’s not. Planning requires due diligence not only at the beginning of a project; it is an essential activity that continues through project closeout. Developing and updating a CPM schedule, monitoring cash flow, allocating resources, and anticipating risks are just some of the factors of planning that are discussed within this text. Those of us in the industry that have witnessed projects that fall behind schedule or exceed budget can attest that lack of planning is typically the root cause.

For a myriad of reasons, construction projects often do deviate from the initial schedule and/or budget. Project Control examines the details behind how performance is measured and tracked and provides the tools to analyze a project at any phase. By creating a detailed budget and CPM schedule and regularly monitoring performance in relation to these items, a project manager can identify and evaluate causes of significant deviation and take corrective action to keep the project on time and on budget. Of equal importance, Project Control teaches the reader not only how to identify and analyze problems, but also how to anticipate them.

What actions should be taken if a project is underperforming? Obviously that depends on the nature of the project, the cause of the deviation, the budget, the schedule, and risk factors associated with any potential solution. Project Control provides an in-depth look at these items and offers sound, practical advice for determining and evaluating potential solutions.

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