In our previous blog post, 7 Deadly Project Controls Sins, we highlighted project management missteps that contribute to construction project delays and budget overruns.
Last April Oracle’s Aconex organised a Project Controls webinar series which addressed: challenges and solutions, the importance of contract administration, and the benefits of one stop solution.
Even if each project is different, the challenges faced by organizations remain the same:
- Aligning data: Companies are often using different systems that lead to disconnected data across the project.
- Integrating Cost & Schedule: Lack of consistency across these two disciplines is leading to higher risks.
- Managing change: Inaccurate reporting of a scope or variation change during the project decreases the visibility into project status.
- Disconnected environment: Project performance suffers when people, disciplines, and departments are working in isolation.
These challenges stem from various sources, ranging from the design of processes and use of systems to organizational culture. Fortunately, you can overcome these challenges by learning about today’s project controls hurdles.
Effectively manage change across your project
Many questions arise throughout any given project, including:
“How does a change in scope affect my schedule?”, “How does this project delay affect my cost?” or “How will this delay impact my processes overall?”
Below are four ways to improve change management:
- Project members must weigh a project’s change against the entire project to assess the impact.
- Tracking a change’s origin before managing its impact on the project is crucial, because changes will affect the entire project, not just one area.
- Organizations need a strong solution that manages the impact changes have on cost and schedule.
- Successful projects depend on a standard approach to change management that’s supported by a system robust and flexible enough to support multiple project types.
Watch our webinar on Contract Administration to learn more about effective change management.
The goal of project controls is simple: reduce risk and successfully deliver a project. According to a World Economic Forum study cited in Construction Dive, a 1% reduction in costs would save the construction industry approximately $100 billion annually.
However, achieving these goals requires an artful integration of teams, systems, processes, and data.
Early visibility into cost impacts starts with connecting every project member of the supply chain on a single platform — whether they’re in the office or the field.
A single source of truth across the project lifecycle and portfolio is essential. Program and Cost Management capabilities give project members an accurate view and forecast into how their projects are performing across cost and schedule.
Select a secure solution for your projects so you can: improve internal and external communication, have better visibility into your project performance, avoid risk and errors, and successfully deliver your projects.
Watch our webinar to learn more about the benefits of a one stop solution.
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