In order to receive proof of
CEU credits, you must watch this presentation in its entirety and complete the
survey.
Level: Basic
TCM Section(s):
10.3. Change Management
Venue: 2021 AACE International Conference & Expo
Abstract: The COVID-19 started in January 2020 that caused the short term pause and difficulty of personal, equipment, materials flow in China and the event is labelled as "Force Majeure" where in the contract specified out that in waive of the responsibility of the contractor due to the condition changed. In order to recover the schedule, the Client will negotiate with the contractor to reach a revised schedule at a reasonable price tag that will be agreed by both parties. Since there is no cost increase model available in the market that can give both parties to follow, communicate and settle. The study starts with the direct impacts on the baseline schedule per "fish bone" model to have a COVID impact schedule. Then, pull back the schedule per Client's desired completion dates by adding resource on the critical path. Price those activities to counter the COVID and activities to recover the schedule, add them up to develop the cost assessment model (CAM) for the schedule recovery. The model then is applied and illustrated at a semi-conductor project in China and the result demonstrates the CAM is effectively streamline distributes between two parties and is a good tool to align the recovery schedule at a reasonable price to deliver the project with confidence.
Level: Basic
TCM Section(s):
10.3. Change Management
Venue: 2021 AACE International Conference & Expo
Abstract: The COVID-19 started in January 2020 that caused the short term pause and difficulty of personal, equipment, materials flow in China and the event is labelled as "Force Majeure" where in the contract specified out that in waive of the responsibility of the contractor due to the condition changed. In order to recover the schedule, the Client will negotiate with the contractor to reach a revised schedule at a reasonable price tag that will be agreed by both parties. Since there is no cost increase model available in the market that can give both parties to follow, communicate and settle. The study starts with the direct impacts on the baseline schedule per "fish bone" model to have a COVID impact schedule. Then, pull back the schedule per Client's desired completion dates by adding resource on the critical path. Price those activities to counter the COVID and activities to recover the schedule, add them up to develop the cost assessment model (CAM) for the schedule recovery. The model then is applied and illustrated at a semi-conductor project in China and the result demonstrates the CAM is effectively streamline distributes between two parties and is a good tool to align the recovery schedule at a reasonable price to deliver the project with confidence.