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(IT-3289) Integrated Software Based Project Controls on Major Capital Projects

Level: Basic
Venue: 2019 AACE International Conference & Expo, June 16-19, 2019, New Orleans, LA, USA

Abstract: In any company that builds or executes large scale projects, ask any resident project controls (PC) personnel and their most dreaded time is invariably month end reporting and the ensuing late nights in getting data ready for monthly stewardship reports.

This paper attempts to outline the benefits of having an industry developed and tested software tool that incorporates the entire gamut of the PC function within its scope; utilize it to do the leg work on data collection and formatting; and allows skilled PC personnel to analyze and trend the data to focus in on the message they want to give out.

Essentially this paper will show that in this age of advanced digital technology, skilled PC personnel should spend less time on data collection & formatting and more time on data analysis and key message delivery.

The software package ideally should incorporate abilities to perform all levels of estimates, budgeting, cost control and forecasting, seamless scheduling data transfer, management of change (MoC) and benchmarking as well as variance analysis. There are various benefits to this which will be expanded in the paper. These integrated software modules do exist in the marketplace currently. However, the adoption of these technologies by big companies is slow due to the relatively heavy initial capital investment of implementing these solutions.

The benefits of this however, on a long-term basis, far outweigh the initial costs when looked at on an overall portfolio basis as will be shown in the ensuing sections.