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(PS-2046) Master Control Schedule - Planning and Risk Analysis Method

Primary Author: Mr Yaroslav Kovalenko
Co-Author(s): Mr Martin J Gough PEng; Dr Mark Krahn

Audience Focus: Intermediate
Application Type: Application
Venue: 2015 AACE International Annual Meeting, Las Vegas, NV, USA

Abstract: The requirement to provide schedule risk assessment at early stages of project development, when no detailed schedules have been developed, has proven to be problematic. Then again, this is also true throughout project execution as detailed schedules are developed, elaborated and revised. The requirement of risk assessment to deliver transparent and consistent outcome forecasts is frequently in conflict with the equal requirement of execution schedules to direct and monitor day-to-day progress of the work.

The authors propose that the solution to this intractable problem lies in recognizing that planning and scheduling are discrete functions, each suited to its own application and each requiring its own skill set. The Master Control Schedule (MCS) Planning and Risk Analysis method described in this paper comprises a process that separates the planning process from that of detailed scheduling. This resolves those difficulties associated with the early development, risk analysis, monitoring, and updating of large project schedules.