With the demise of Carillion, Government departments’ scrutiny over the progress of their major projects is increasing. One method being used to manage infrastructure projects is Earned Value Management. As well as being able to monitor costs and schedules, it also has a value add element that allows organisations to
New best practice guide sets new standard for time management in building and civil engineering projects in the latest publication from the Chartered Institute of Building (CIOB). Delayed completion affects all project based industries in all countries and the bigger the project, the more damage delayed completion causes to costs,
BDC 319 : Aug 2024
With the demise of Carillion, Government departments’ scrutiny over the progress of their major projects is increasing. One method being used to manage infrastructure projects is Earned Value Management. As well as being able to monitor costs and schedules, it also has a value add element that allows organisations to track and measure the progress more effectively. Earned Value is not a new idea, it has been in use since the industrial revolution. However, it came to prominence first in the US when the government introduced earned value management as a requirement for their contracts, and has in the UK where Government Departments are keen to establish the value add of their major contracts. The concentration being applied to major suppliers in the wake of Carillion’s demise, means that effective tracking of progress throughout the project is increasing in importance. Earned value management offers opportunities beyond the simple adherence to contract requirements. It allows an organisation to have transparency around projects, programmes and portfolios of stand-alone and integrated works, and provides a clearer indication of progress on large-scale projects than other traditional monitoring techniques. In essence it allows organisations to keep projects on schedule and within budget. However it is far more than simply applying the three set formula of schedules, costs and completion to a project. There are often different variables to be considered with each project, as well as ensuring data is consistent and true. At the forthcoming APPS18 Oracle event, Nathan Morgan from Prōject (EU) Ltd will be showcasing how both Government Departments and major suppliers can benefit from adopting Earned Value Management. The presentation is being made on Wednesday 5th December 2018 at 3.20pm in the main hall.
New best practice guide sets new standard for time management in building and civil engineering projects in the latest publication from the Chartered Institute of Building (CIOB). Delayed completion affects all project based industries in all countries and the bigger the project, the more damage delayed completion causes to costs, reputation and sometimes even to the survival of the contracting parties themselves. First published in 2010, the Guide to Good Practice in the Management of Time in Major Projects was an integral part of the CIOB’s strategy to provide standards, education, training and accreditation in time management. The latest edition, published today (26th February) emphasises dynamic, strategic time modelling as the way to manage time and cost in major projects. “On major projects the failure strategically to manage time so often proves disastrous, not just for the contractor but also for the client, its consultants, and for the rest of the supply chain,” said Keith Pickavance, author and Past President of the CIOB. “This Guide is a step-by-step illustration of how the parties can work collaboratively to meet this challenge using traditional project procurement routes or the most advanced BIM, from the adoption of a workable time-management strategy through to the day to day detail of risk management, using a predictive time model.” The publication includes new materials, such as a chapter distinguishing the principal features of the dynamic time model and its development throughout the life of a project, from inception to completion. It also includes new appendices covering matters such as complexity in construction and engineering projects, productivity guides and a number of case studies. The publication is the ideal handbook for project and program management professionals working in civil engineering and construction projects, including those from contractors, clients and project management consultants. For more information and to purchase this latest publication, visit Wiley. Please note members receive a 20% discount off this purchase.
