Insights

A successful project is established when proper planning and procedures are implemented systematically.

Project controls encompass the processes, experience, people skills, and tools used to plan, manage, monitor and mitigate any risk or event that may effect the cost and schedule of a project. 

These controls are the discipline and methodical processes used to support project management methodologies that focus on controlling the schedule and cost of the project. By detracting the realm of project controls to a molecular day to day level, they may look like the following:

• Planning & Scheduling
• Risk Management (Assessment, Identification & Mitigation)
• Cost Estimating
• Cost Management & Assurance
• Schedule Management & Control
• Change Order Management
• Document Control
• Supplier Performance
• Project Reporting

WHY ARE PROJECT CONTROLS SO CRUCIAL TO PROJECT MANAGEMENT?

When managing large scale or complex projects, a project controls specialist clearly conveys the project’s status and direction from a schedule, cost and risk perspective. By examining the trends and remaining focused on all areas within a project, any approaching risks potentially impacting the project schedule or budget are brought to the forefront, initially for team discussion and mitigation. Not only do these controls clarify the gravity of trends, they rigidly document all facets of the project journey for future reference.

Project controls are essential to a successful project and program management, regardless of cost or scope.

PROJECT CONTROLS:

• Establish the reporting structure and customized reports, thus bridging the information gap among stakeholders
• Compile and access the projects’ actual progress (schedule & cost) on regular intervals to leverage trends and forecast a realistic completion
• Clearly identify how approaching risks impact the projects’ schedule and budget and drive these to the forefront for discussion and mitigation if necessary.
• Enable complete transparency and accountability of all projects

WHAT IS A PROJECT CONTROL DOCUMENT?

A project control document is a formal report vetted by the entire project management team that clearly conveys the project’s status and direction from a schedule, cost and risk perspective. These critical documents contain data that supports forecasts and highlights decision points to ensure that the project remains on course to successful completion. In the case of a troubled project, this data has the tenor to get the project back on the rails for a satisfactory conclusion to the cycle.

WHERE DOES ABBOTT FALL IN THE SPECTRUM OF PROJECT CONTROLS?

As a project and program management consultancy working across all sectors of the built environment, Abbott focuses on minimizing risk and creating opportunities to maximize the value of our clients’ development and property assets. Abbott continually builds on a strong foundation of predictable excellence by utilizing our years of technical expertise, innovative technologies, and unrivaled dedication. With an extensive history of mastery in project controls, we are able to provide valuable insight and service in: 

• Project Management. We have executed projects through effective planning, the right team, and rigorous controls. our project management approach reduces risk and helps clients deliver projects in a consistent and improved manner while managing a process that is demanding and complex, especially when under acute time pressure.
• Program Management. Abbott works with its clients to organize the creation of the world’s most extensive, sophisticated and fast-paced programs of work within the built environment. We provide independent advice, comprehensive support, and an unrivaled commitment to successful delivery.
• Cost Management. We optimize cost performance at every stage throughout the program from day one. With our breadth of market intelligence, we establish project viability with a clean, robust baseline. From inception to post-completion, Abbott’s network of experts provides cost management advice that ensures value for the client when projects come in on budget.
• Risk Management. By identifying risks at the earliest possible stage, effective mitigation strategies can be implemented to control and manage risk proactively. With our systematic approach to Risk Management, we undertake a concurrent cost and schedule risk analysis that allows us to run multiple scenarios on the budget and program.

We are 100% assured we can cater to your requirements pertaining to development, assessment, aid, and troubled recovery, along with evaluation and management of your project. Contact us today to get expert opinions and develop a strategy for your project program.