Primary Author: Dr. Mohamed E. El-Mehalawi
Audience Focus: Basic
Application Type: Application
Venue: 2014 AACE International Annual Meeting, New Orleans, LA, USA
Abstract: Using project controls successfully enables us to inform project management of “where the project is” and “where the project is going” in the future. Current project controls technologies are capable of supporting strategic decision-making on the level of a mega project or a portfolio of concurrent projects. Cost controls, scheduling, and risk management are the elements of project controls used to support both project management and strategic management. The assessment of the performances of general contractors and subcontractors determine the impact on project objectives. Cost and schedule risk analyses, schedule acceleration, and accurate forecast are a few examples that support strategic planning and decision-making for mega projects. Moving project controls from individual projects into enterprise systems allows the organization to manage the whole portfolio of projects. That leads to supporting strategic decision-making on management of capital, project selection and resource optimization. The paper explains the kinds of project controls information and the level of details that would be needed to support both strategic management and project management.
Audience Focus: Basic
Application Type: Application
Venue: 2014 AACE International Annual Meeting, New Orleans, LA, USA
Abstract: Using project controls successfully enables us to inform project management of “where the project is” and “where the project is going” in the future. Current project controls technologies are capable of supporting strategic decision-making on the level of a mega project or a portfolio of concurrent projects. Cost controls, scheduling, and risk management are the elements of project controls used to support both project management and strategic management. The assessment of the performances of general contractors and subcontractors determine the impact on project objectives. Cost and schedule risk analyses, schedule acceleration, and accurate forecast are a few examples that support strategic planning and decision-making for mega projects. Moving project controls from individual projects into enterprise systems allows the organization to manage the whole portfolio of projects. That leads to supporting strategic decision-making on management of capital, project selection and resource optimization. The paper explains the kinds of project controls information and the level of details that would be needed to support both strategic management and project management.