Document Detail

Title: RR316-11 - Modeling Strategies for Instantaneous Project Controls
Publication Date: 8/1/2016
Product Type: Research Report
Status: Reference
Pages: 188
Back, Univ. of Alabama; Grau, Arizona State Univ.
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Abstract

Owner and contractor organizations alike rely upon project controls functions to status the progress of work during project execution. The reliable reporting of project status information regarding “performance to date” is critical for industry organizations to make important decisions on individual projects, the portfolio of projects, and the organization. Indeed, performance against objectives is generally a contractual obligation requiring deviations from planned outcomes to be reported accurately and timely. Failure to satisfy project objectives often results in significant negative consequences to all organizations. Consequently, it is imperative that project controls functions are efficiently executed so that comprehensive, timely, and accurate information is provided to project stakeholders. For the purpose of this research effort, project controls is defined as a practice that encompasses the resources, procedures and tools for the planning, monitoring and controlling of all phases of a capital project’s lifecycle, and includes the functions or practices of estimating, risk management, cost and schedule management, change management, earned value progressing and forecasting. Complementary, an instantaneous control function is defined as a function with continuous data collection and on-demand, accurate reporting.

RT316 has concluded that instant and accurate reporting can yield to substantial benefits, and, indeed, it is regarded as a competitive advantage by construction industry organizations that are adopting it and across other industries too. However, delivering information in an instantaneous manner cannot be achieved without the investment of significant efforts and resources. We have documented that the transformational process that leads to timely communicate and properly integrate information becomes a year, sometimes a multi-year, long journey. Thus, in an effort to understand how information needs to be optimally communicated, RT316 investigated how organizations across different industries deliver their information. Benefitting from a robust data collection and analysis methodology, RT316 has identified processes, patterns, behaviors, and technologies, as discussed later in this research report, across multiple industries that significantly improve the timely communication of information. Other comparable industries, such as aerospace, shipping and logistics, or manufacturing have successfully met the challenge of transforming a batch, or non-continuous, reporting function to one enabling the acquisition, generation, and accessibility of accurate, real-time and/or timely information on the status of products or processes.