4castplus Blog

4castplus Blog

11 11, 2014

How Long Does it Take You to Put Together a Status Report?

One of the most challenging aspects of successful construction project management is the ability to collect a vast amount of project data into one place for easy reporting. If you’re like most organizations however, when you get asked for a status report, you can’t just click a button and a report pops up that’s nicely formatted, with current and accurate information, ready to send to your boss or your client. No way. If you’re like most organizations, when you get asked for a status report, you kick into “Report Gear” and start gathering information so you can build your report. You need to request the latest actual costs, you need the latest vendor invoices, you need to make sure you have all the current change orders up-to-date, you need your progress forecasts entered, and on and on.  You need to start sending emails and making phone calls and trolling through spreadsheets – to pull together all the details you need to get that report ready.

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28 28, 2013

Top 3 Labor KPI Metrics for Services Organizations

Labor Utilization is a critical metric to assess just how you’re doing as an organization – and a great way to benchmark yourself against your corporate objectives and your peers.

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18 18, 2013

The Future of SAGD

How can we Make SAGD more Profitable and Sustainable?

Large SAGD projects in the Alberta Oil Sands have suffered an unfortunate reputation for cost overruns, delays and productivity issues over the past ten years.  These results have thrown the whole industry into question as to whether SAGD is a viable and investible solution for extracting bitumen from this oil-rich area of the country. Despite the criticisms and skittish investment community however; these challenges have invited a tremendous amount of analysis and an industry-wide awareness of the need to innovate new technology to prove it as a viable and sustainable solution. In this article, I’ll have a look at some of the lessons learned in recent years and a number of recommendations as to how we can apply better techniques and technology to make it a practical, sustainable alternative that we can all feel proud to be a part of.

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29 29, 2013

The WIP Report - It's CFO Candy

Why the WIP Report is so Important

In addition to effectively managing the costs and schedule of your project, it’s critical to stay on top of your Work in Progress or WIP.  WIP is critical to monitor. You, your CFO and your investors need to know just how profitable your project is, how much of the project has been funded by your customer, and how much has been financed by you.  Combining WIP information with project profitability and performance metrics, will give you a complete picture of the financial health of your project or your program.

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11 11, 2012

Anticipation and the Project Bottom Line

Projecting the Final Results

The big question everyone – including all project managers and stakeholders – wants to know is, “How long and how much.” That’s a reasonable and typical question; and it’s a question that resonates for the project as a whole, as well as every piece and subsection within a project.

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30 30, 2011

Big Projects use Cost Controls - Why don't You?

The use of project cost controls solutions is becoming pretty widespread these days amongst bigger construction organizations that execute on capital projects. For any big, billion dollar project (or any number near that), it’s understood that proper planning, cost controls and detailed progress reporting will be followed on that size of project. They have to. There’s just too much risk otherwise.

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21 21, 2011

Got projects going over budget?

You're Not Alone. Project cost overruns are common.

Statistics will tell you that over 85% of projects go over budget. But Why? What are the mechanics behind project cost overruns and project schedule delays? Plenty of talented and experienced professionals engage in dialog about this very topic every day, and try to arrive at conclusions about how to stop projects from going over budget. In this article I’d like to shed some light on the underlying workings as to the root causes of cost overruns and schedule delays. In order to tackle the problem of how to eliminate overruns, it’s important to understand the main reasons why they happen.

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