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(CSC-1327) The Cost of Change

Primary Author: Mr Gregory J. Whiteside CCT

Audience Focus: Basic
Application Type: Application
Venue: 2013 AACE International Annual Meeting, Washington, DC, USA

Abstract: There are a variety of common cost control activities on every project. Some of these activities are routine while other intermittent activities are involved with making corrections and responding to changes. This paper will examine the cost of these occasional activities through the use of several examples from the energy and chemicals industry that will help project teams understand the return that they are getting on their investments. It will discuss drivers for these costs, alternatives for controlling the costs, and tradeoffs for each alternative. While these costs may be minor for a single project, they are common on a large number of projects, and they are usually controlled with an enterprise-wide strategy.