Project controls are a group of processes that gather and analyze project data to keep costs and schedules on track. The beauty of project controls is they allow for proactive monitoring of current projects, and alert stakeholders so that timely, corrective actions can be taken. While controls deliver projects on time and budget, the scope […]
Nostradamus for Projects (Part II): Utilizing Predictability Metrics in Benchmarking and Analysis to Improve Performance
November 7th, 2018
In Part I of Nostradamus for Projects, we covered how improving predictability in the construction industry can mitigate cost and schedule overruns, ultimately having a huge impact on returns and margins. Project predictability is simply knowing the outcome variance of a project as early as possible, i.e. how early in the project lifecycle is the […]
Nostradamus for Projects (Part I): Building Predictability into your Enterprise
April 25th, 2018
Why is it the construction industry lags other sectors when it comes to productivity? Why are cost and schedule overruns the norm for engineering and construction projects? The answer to these questions is complicated, as there are many factors that affect project outcomes. However, there is one critical factor that is often overlooked, but has […]