More and more companies are demanding greater visibility into construction project performance. Simply put, companies want to know that funds are being well spent and that their projects are going to run to plan. As a result, increased demands are being made on project controllers to deliver timely and accurate cost and revenue forecasts to help shape business decisions. But hey, you know all about this, don’t you?
Any organization that executes on major projects will know the importance of gathering information on how far along they are on a project. In other words, evaluating Percent Complete. Evaluating that by activity, by phase, by project, etc. At 4castplus, we refer to this as a "Progress Measurement" and it serves as a critical function for calculating analytics such as Earned Value Management (EVM) metrics. Measuring progress however, is a tricky thing to do; and can cause companies to not bother with it if they don’t have a good system and process in place. This is unfortunate as it is a vital part of project management and project controls on major projects. Without it, you’re flying in the dark.
I recently had a meeting with a group of project managers and engineers at a mid-size oil & gas producer. For managing their construction projects, this team have an immediate need to improve efficiency, improve project cost reporting, and reduce the amount of manual movement of documents. Especially the high number of documents shared through emails. Throughout the meeting, the four guys were passionately articulating their many diverse challenges they have day-to-day and month-to-month. Each time one piped up to speak about his own version of the ideal solution they needed, another would chime in with a slightly different take on his version of utopia. They went back and forth just unleashing their troubles and desires for a better system. My role in meetings like this is often to listen and facilitate. And, ultimately, to distill their needs down to a straightforward plan that would improve how they operate, and simplify their lives.