Primary Author: Mr Jake Ortego PE CCE Commercial Cost Control
Co-author(s): Mr Antonio Fratangelo CCC Commercial Cost Control, Inc
Audience Focus: Basic
Application Type: Experience-Based
Venue: 2012 AACE International Annual Meeting, San Antonio, TX, USA
Abstract: Despite the ideology that projects should be well planned to achieve the most efficient execution, many projects are started with underdeveloped scope requirements, design documents or execution. These conditions can create the potential for significant schedule and budget impacts. When the forecasted impact is great enough, there may be a discussion about placing a portion or the entire project on a short hold to resolve the potential issues with inadequate scope or design documents. This idea is often avoided as there is a common perception that the costs outweigh the benefits.
This paper will address some of the early indicators that a project may be in jeopardy of not meeting its goals and when it may be beneficial to consider putting a project on hold to solve scope, design or execution issues. An approach to evaluate the costs of putting the project on hold with examples to illustrate the process will be identified. Finally, the paper will address some of the other factors and impacts that could influence this type of decision.
Co-author(s): Mr Antonio Fratangelo CCC Commercial Cost Control, Inc
Audience Focus: Basic
Application Type: Experience-Based
Venue: 2012 AACE International Annual Meeting, San Antonio, TX, USA
Abstract: Despite the ideology that projects should be well planned to achieve the most efficient execution, many projects are started with underdeveloped scope requirements, design documents or execution. These conditions can create the potential for significant schedule and budget impacts. When the forecasted impact is great enough, there may be a discussion about placing a portion or the entire project on a short hold to resolve the potential issues with inadequate scope or design documents. This idea is often avoided as there is a common perception that the costs outweigh the benefits.
This paper will address some of the early indicators that a project may be in jeopardy of not meeting its goals and when it may be beneficial to consider putting a project on hold to solve scope, design or execution issues. An approach to evaluate the costs of putting the project on hold with examples to illustrate the process will be identified. Finally, the paper will address some of the other factors and impacts that could influence this type of decision.