Skip to content

Using what you know now in prior period updates - acceptable?

John ReevesMember for 13 years 5 months
Created
1
2
0

A procurement item is discovered to be taking 90 days longer than expected, you discovered this in March but you are updating February data.  You could and should revised that duration to add 90 cal. days, otherwise you are publishing knowingly wrong data.  Plus this did not happen in March - you don't when the equipment vendor started sand-bagging - probably from the start, so either way you should use the data you know now (not then) as correct for item?  correct? - it would be different if it were a work item that extended in March - and you found out in March.  Correct?

1 reply

Oldest first
  1. 0
    Rafael Davila ·

    Using what you know now in

    Using what you know now in prior period updates mean your updates are not contemporaneous updates. This might have some implications that can play against the party responsible for submitting the updates.

Log in or join to reply

ProjectControls.com is free to join. Members can post questions, reply, vote and follow discussions.

Existing members: your original username and password still work. Forgot password?