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):
7.2. Schedule Planning and Development
7.4. Resource Planning
Venue: 2021 AACE International Conference & Expo
Abstract: Does every project schedule need to be resource and cost loaded? The concept of resource and cost loading a project schedule could be mystifying for some. Being able to identify the proper level of resource and cost loading a schedule proportional to the scope of a project can also be challenging. Furthermore, managing stakeholders that are not educated in project controls can get confused with the terminology, i.e., what is the difference between resource loading vs. cost loading?
Early in a project there is a natural desire to acquire as much information as possible from each other. The client wants to oversee the project planning while the contractor is adapting to the expectation of the client. During these times, one of the key decisions is to try to identify which part of the contract the client will expect the contractor to adhere word by word and which parts can be negotiated out and amended.
Ideally, the stakeholders can decide on the need to develop the schedule beyond start, finish activities, and link relationships within them. If this is not done early, there is a high risk of failure as the team switches focus from planning to execution, leading to disregard the contract requirements.Resource and cost loading the schedule could be negotiated to be removed from the requirement or can be potentially forced by the client and their representative creating a challenging environment for the team. This paper focuses on this challenge and proposes the best approach from experience.
The authors have experience in large program scheduling with resource and cost control and have developed a workable and efficient method of handling projects, following the AACE TCM Framework and recommended practices.
Level: Basic
TCM Section(s):
7.2. Schedule Planning and Development
7.4. Resource Planning
Venue: 2021 AACE International Conference & Expo
Abstract: Does every project schedule need to be resource and cost loaded? The concept of resource and cost loading a project schedule could be mystifying for some. Being able to identify the proper level of resource and cost loading a schedule proportional to the scope of a project can also be challenging. Furthermore, managing stakeholders that are not educated in project controls can get confused with the terminology, i.e., what is the difference between resource loading vs. cost loading?
Early in a project there is a natural desire to acquire as much information as possible from each other. The client wants to oversee the project planning while the contractor is adapting to the expectation of the client. During these times, one of the key decisions is to try to identify which part of the contract the client will expect the contractor to adhere word by word and which parts can be negotiated out and amended.
Ideally, the stakeholders can decide on the need to develop the schedule beyond start, finish activities, and link relationships within them. If this is not done early, there is a high risk of failure as the team switches focus from planning to execution, leading to disregard the contract requirements.Resource and cost loading the schedule could be negotiated to be removed from the requirement or can be potentially forced by the client and their representative creating a challenging environment for the team. This paper focuses on this challenge and proposes the best approach from experience.
The authors have experience in large program scheduling with resource and cost control and have developed a workable and efficient method of handling projects, following the AACE TCM Framework and recommended practices.