Cracking the Code of Delays: Unveiling Schedule Forecast Accuracy & Data Visualization
Learn how to calculate and visualize schedule forecast accuracy – a simple but powerful metric and bring your projects closer to achieving their objectives.
The Cost Estimating Process Explained in 5 Simple Steps
A project lives and dies by its budget, but how do you put together a budget that will bring the project to fruition? Well, developing the project budget originates from the Cost Estimating process. What is a “Cost Estimate” in project management and how do you develop a cost estimate? This video explains the Cost […]
Using the Rule of Thumb Method in Cost Estimating
Ramani Sundaram talks about how rules of thumb can assist estimators in bringing value to their cost estimating approach.
4D Scheduling vs. Traditional Scheduling (Which one do you prefer?)
“The 4D Scheduling/4D BIM is a useless technique. It doesn’t add any benefits to Project Controls. Its main purpose is to visualize the construction schedule, resulting in extra fancy requirements which we can survive without”. From my point of view, I always get confused when I hear these phrases and I really don’t understand how/why professionals judge the 4D scheduling in this way. I wonder what their source of information about the 4D scheduling comes […]
Top 5 Features to Consider in Your Project Controls Software Reviews
Have you ever been involved in the Project Controls software reviews and selection process? If you do, you know that you have the privilege of selecting from an array of Project Controls Software. In order to choose the best Project Controls software for your organization, one of the things you need to figure out is […]
The Best Ways to Minimize Cost Overruns in Construction Projects
What are the best ways to minimize cost overruns? Large and mid-sized CAPEX & Infrastructure construction projects are many times, intricate and demanding. The majority of these projects significantly do not meet their pre-established cost & schedule goals. What are the reasons for cost overruns on many construction projects? How can we minimize the cost […]
Cost Control vs. Cost Management
What is the difference between cost control and cost management? Cost management and cost control are two terms that often get mixed up. If you think about the words, what sounds better? Would you rather be in control or managing your costs? It turns out that cost management and cost control really are two different things, and yet they are equally important […]
The Top 20 Reasons Why Construction Projects Experience Cost Overrun
Why do so many construction projects have cost overrun by as much as 10% to more than 100%? How can cost overrun be rectified? This continuing cost overrun situations costs industry million dollars each year and wastes valuable engineering /construction labor resources. Construction cost overruns are an everyday happening on mid-sized & large multi-million dollar EPC projects around the world. Studies on this subject […]
Top 10 Mistakes In Project Cost Management
Starting the New Year energized and motivated you yet not entirely meeting your resolutions? This may seem to be a yearly reoccurrence. With all that goes into managing a project, making sure things are done right, within budget, and on time is a challenge; especially when we fall victim to the same mistakes. Knowing that there are a lot […]
Transforming Project Controls For Organizations, If Not Now, When?
Transforming Project Controls For Organizations, If Not Now, When? Today’s Owner and EPC companies are frequently dealing with significant budget overruns and schedule delays, placing increased pressure to adopt project controls strategies, which better fit their company and the projects they execute. In this post, Fred Wellman discusses strategies for rapidly transforming project controls for organizations in today’s construction industry. “Another word for control is […]
Know the Ins and Outs of a Construction Career from David Senko
Since he was a little child he was curious to know how things were built. His dad being in construction sparked his interest in the construction career from an early age. When he was 5 years old, he was building cabinets with his dad, drilling the holes, and putting on the hinges and door pulls. […]
Career Visioning: Build Your Career By Design Not by Chance
Do you have a clear career vision? Do you know where you want to be in your career 10 years from now? Check this video to learn how you can build your career by design, not by chance and why you should seriously think about redefining, redesigning, and rebuilding a career that cultivates the best […]
Share Your Knowledge in Project Controls
I believe your knowledge and expertise is your most precious gift that deserves to be shared. In this video, I share with you the importance of sharing your knowledge in Project Controls no matter how much experience you have or how young or seasoned professional you are. Check out my journey in sharing my knowledge and how you can do the same. Download […]
The 5 Tips in Developing A Project Schedule that Engineers Will Admire
Developing a project schedule with a group of engineers can be a challenging process. There is a parable about eight blind men, who are trying to describe an elephant by touching the part of the elephant that is nearest them. One man touches the trunk and says, “a snake!”. Another man touches an ear and […]
The Impacts Of Megatrends On Future Project Planning & Scheduling Workforce
Regardless of which industry you work in, you should always be forward-looking. Trends that are appearing in your industry today will likely have a drastic impact on the future of your career. I had the opportunity to host a webcast with Laurie Bowman, talking about “How to Future-Proof Your Career in Project Planning & Scheduling.” […]
Q&As on Project Risk Quantification Methods That Work
The legend John K. Hollmann, a well-recognized industry thought leader and Honorary Life Member of AACE® International, conducted a live webcast in collaboration with Project Control Academy on “How to Conduct Practical and Realistic Cost & Schedule Risk Analysis.” John Hollmann shared his research on cost growth, schedule slip, and accuracy and presented an integrated set of project risk quantification methods “that […]
The 5 Keys To Successful Career Of Your Dreams (An Interview with Tom Moroney)
I had the privilege and honor of interviewing Tom Moroney, the former Vice President of Deepwater & Wells Technology at Shell. Shell is the fifth-largest company in the world measured by 2018 revenues. Tom had a quite successful career in the company for 33 years and handled numerous projects and departments, most notably the BG Group acquisition and being at the helm of Deepwater & […]
New Technologies Impact On Future Projects
Digital Technology and Artificial Intelligence aligned with 3D modeling and BIM (Building Information Modelling) are leading Project Management and Project Controls into a whole new era of systems and management techniques. For the last 50 years, there has been little change in the approach and techniques that have been applied to projects but all that is now changing […]
Adding Value to Your Organization Should be Your #1 Priority in Your Career
Adding value to your organization or the people you serve should be your number 1 priority. Watch this video to figure out why. Download the free audio mp3 podcast of this episode on iTunes. Want more training? Subscribe to Project Control Academy to receive complimentary training videos and resources delivered to your mailbox. Project Control Quotes to Consider: Join Project […]
“DO YOU BELIEVE IT?” The Question to Ask in Every Cost & Schedule Report!
I have been involved in different aspects of Project Control for over forty years, and one thing that has not changed is the pressure that Cost and Planning Engineers are put under to issue the weekly and monthly reports. One thing that I have learned however is that when you have produced the report, and […]
Key Factors To Consider In Project Cost Estimate Reviews
Cost estimate reviews are necessary for any owner for design phase estimates to ensure there is no budget overrun later. Owners would like to confirm that their design goals are realistic, and they have adequate money in their estimate that will reflect the intended project scope. AACEI’s (Association for Advancement of Cost Engineering International)Recommended Practice […]
How to Assess the Accuracy of Your Cost Forecasts with TCPI
How do you evaluate the accuracy of your cost forecasts? Watch this video to learn how you can use the TCPI metric to assess the feasibility of your cost forecasts. Download the free audio mp3 podcast of this episode on iTunes. Want more training? Subscribe to Project Control Academy to receive complimentary training videos and resources delivered to your […]
Performance-Based Cost Forecasting (EAC/ ETC)
What cost forecasting formula/method do you use at every stage of your project? Check this video tutorial to learn what performance-based cost forecasting formula (EAC/ETC) is recommended at various stages of your project. Download the free audio mp3 podcast of this episode on iTunes. Want more training? Subscribe to Project Control Academy to receive complimentary training videos and resources […]
How to Forecast the Cost at Completion of a Project
How do you forecast the cost at completion of your projects? There are various methods to cost forecasting. Check out this video to learn the “performance-based cost forecasting methods” using Earned Value Management. Download the free audio mp3 podcast of this episode on iTunes. Want more training? Subscribe to Project Control Academy to receive complimentary training videos and resources […]
Thanks for Your Participation in Forensic Schedule Delay Analysis Training
April 27th, 2018 marked the completion of the first round of the Forensic Schedule Delay Analysis training. Chris Carson, a world authority in Forensic Schedule Analysis and one of the primary authors of AACE International 29R-03: Forensic Schedule Analysis recommended practice, conducted this comprehensive training in conjunction with Project Control Academy. I would like to […]
Essential Requirements For a Successful Project Controls Plan Implementation
Project Controls Plan (PCP) is a well-defined documented Project Controls execution strategy that describes specific processes, procedures, systems, & tools used by the Project Control team throughout the project lifecycle. According to AACE® International RP No.60R-10, “ The use of a project controls plan is considered a leading indicator for assisting in the success of the delivery of the project. The time invested […]
How Top Down Estimation in Primavera P6 works
In Primavera, there is a function called Top Down Estimation, which helps you calculate an estimated figure for Labor and Non-labor unit based on “estimation weights”. Top Down Estimation can be applied to both the WBS and Activity. I will show you how Top Down Estimation works in Primavera P6. Consider a simple project, where […]
Challenges of a Cost Estimator’s Job
If anyone asks, ‘What do you like the most about being a cost estimating professional?”, An owner’s cost estimator might say ‘the cost estimator plays an important role in an owner’s budgeting efforts for different projects.’ A cost estimator working for a consulting firm might say ‘In addition to supporting an owner’s budgeting efforts, the cost estimator is able to provide cost solutions to their clients’. Cost estimators working for contractors might say ‘they play a key role in […]
Top 10 Tips From A Leading Thought Leader In Project Controls
How to become a world-class authority in project controls and get to the top of your field? This is the question I was eager to know the answer from someone who has already reached to the top in Project Controls and is arguably one of the leading thought leaders in Project Controls, Chris Carson. You […]
Project Controls Plan Components
Have you ever been assigned to a project and were asked to develop a project related procedure, report, or presentation, but didn’t know exactly how? Wouldn’t it be easier if you were given the structure and elements of your project report or procedure? Watch the video below to learn the Project Controls Plan components, so next […]
What Kind of a Plan is a Project Controls Plan?
Have you ever been assigned to a project, where each member of a team had the same perspective of how Project Controls should be conducted in the project? Have you ever experienced working in a project where there was a well-established Project Controls execution strategy in place? Your answer is probably “No,” isn’t it? The […]
Career Development Expert Shares the Best Kept Job Search Secrets
When I say that Rick Gillis is an “expert” in career development and employment, it’s not a term that I use lightly. Rick has won awards for the books he’s written on these subjects, demonstrating his knowledge on everything from the job search to the job promotion. Reputable publications like Fortune, Forbes and The Wall […]
The Insights of a Brilliant Leader In Document Management That Wows You
I had the pleasure of interviewing one of the most supportive Document Management leaders that I have ever worked with and a long-term client of mine, Ken Clevenger. The first time that I saw Ken was when I came across his LinkedIn profile and I was immediately struck by how intelligent and kind he appeared. […]
How to Remove Actuals / Progress from Primavera P6 Schedule?
Assume that you have a Primavera schedule with actual data & progress. Now you want to remove actuals so you can develop an “As-Planned” schedule. In this post, I will show you how to do this. Consider a simple project with actual data as illustrated below: STEP 1: Change Calculation Settings To remove actuals, first, go […]
How to update the Baseline Schedule in Primavera P6?
The baseline Schedule is something we usually do not change. However, in some cases, schedule rebaselining might be required. In this post, I will show you how to update the baseline schedule in Primavera P6. Consider a simple project, which has a baseline assigned as illustrated below: After several update periods, the project is delayed quite […]