M3.5 Cost Forecasting & Commercial/Contract Interfaces

1. Practical outcome The learner should be able to preserve relevant records, define a forensic question, establish a reliable chronology, test cause and effect across schedule and cost, distinguish facts from assumptions and produce reproducible findings. They should understand how project-controls…

Collaborative work -n-progress contributed by members and experts from across the community cadre.The Project Controls Open Standard brings together practical project controls knowledge in one free,…

1. Practical outcomeThe learner should be able to plan and conduct a proportionate review of project-controls data, processes and outputs; test evidence against stated criteria; identify material weaknesses; communicate their consequences; and verify corrective action. They should distinguish…

1. Practical outcomeThe learner should be able to recognise a potential change, record and define it, assess integrated consequences, identify the correct authority, support an approve/reject/defer decision and track implementation to verified closure. They should distinguish a changed requirement…

1. Practical outcomeThe learner should be able to design and operate a proportionate project-controls strategy: define what decisions the project needs, identify the information and controls that support them, assign ownership and authority, establish an integrated operating cycle, set escalation…

1. Practical outcomeThe learner should be able to produce one coherent view of expected project outcomes by reconciling schedule, cost, physical accomplishment, acceptance, commercial exposure and uncertainty. They should identify inconsistent assumptions, distinguish target from forecast, build…

1. Practical outcomeThe learner should be able to connect authorised scope, time-phased budget, evidence of accomplishment and incurred cost at a common cut-off. They should calculate and interpret basic Earned Value Management measures, reconcile them to source records, distinguish cost efficiency…

1. Practical outcomeThe learner should be able to establish a valid comparison, calculate period and cumulative variance, analyse a time series, distinguish delivery deterioration from timing or data effects, find causes across discipline boundaries and test whether an intervention improves the…

1. Practical outcomeBy the end of this section, the learner should be able to establish, explain, govern and reassess cost and schedule provision for uncertainty without hiding it inside the base plan. They should be able to distinguish base budget or duration from contingency and, where the…

1. Practical outcomeBy the end of this section, the learner should be able to turn an analysed threat or opportunity into a controlled management response that is proportionate, owned, time-bound and integrated with the way the project is actually delivered. They should be able to distinguish a…

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PP Admin

Changes to the Baseline must be accommodated so that the baseline accurately represents the current plan.

Rafael Davila

We have all been told that time equals money. Even, time is money. But what does any of that truly mean? Time and money separately are highly debatable subjects. The combination of the two can certainly be a conundrum. However, it is this author’s belief that in construction, this may as well be a l

Michael Bensussen