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(PS-950) Schedule Target Setting to Improve Project Execution Competitiveness

Primary Author: Mr Andres Blake Thein Fox P Eng Statoil AS

Audience Focus: Intermediate
Application Type: Experience-Based
Venue: 2012 AACE International Annual Meeting, San Antonio, TX, USA

Abstract: Project schedules are under continuous pressure to be performed faster in order to secure competitive advantage, improve operating margins and reduce time to production. When establishing a business case, it is imperative to ensure that targets are set early and in a manner that is consistent with the business case strategy. Early target setting will maximize the potential to influence the project results.

Project control plays a key role in establishing and following up the basis to be used for target setting. The method for setting and following up schedule targets will be described making reference to relevant business portfolio strategies and taking into account information available in the relevant project phases, in accordance with the project development model.

This paper will describe the process and methods being employed to:
  • Evaluate and utilize industry benchmarks in order to challenge historical practices
  • Introduce target setting as a method to increase schedule aggressiveness and improve project performance
  • Implement key performance indicators to monitor project schedule performance