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{"id":1011,"date":"2011-09-19T17:59:57","date_gmt":"2011-09-19T22:59:57","guid":{"rendered":"http:\/\/projectprofessionals.org\/?p=1011"},"modified":"2011-09-19T17:59:57","modified_gmt":"2011-09-19T22:59:57","slug":"managing-risk-of-delay-%e2%80%93-schedule-updates-and-progress-considerations-part-10","status":"publish","type":"post","link":"http:\/\/projectprofessionals.org\/2011\/09\/19\/managing-risk-of-delay-%e2%80%93-schedule-updates-and-progress-considerations-part-10\/","title":{"rendered":"MANAGING RISK OF DELAY \u2013 Schedule Updates and Progress Considerations (Part 10)"},"content":{"rendered":"

This post is the tenth in a series <\/a>of discussions regarding various aspects of time management <\/strong>as it relates to the risk of delay<\/strong>.\u00a0 This post addresses planning for and implementing progress measurement and schedule updates.<\/p>\n

The challenge associated with managing time<\/strong> is intensified in the case of larger and more complex projects as well as fast-track and high technology projects.<\/p>\n

In order to professionally manage time (and, therefore, risk of delay) the manager must have a time baseline [typically a Critical Path Method schedule and a Performance Measurement Baseline \u2013 please see earlier posts on these topics] and a method to recognize variations from the baseline.\u00a0 In order to detect variances, the managerial team must have an effective process to measure progress data and update the schedule (or time model).<\/p>\n

Progress measuring and reporting<\/strong> are an integral and crucial part of project execution planning.\u00a0 Most major Engineer Procure Construct [EPC], Lump Sum Turnkey [LSTK] and Construction contracts contain requirements or provisions for progress reporting.\u00a0 Simplistically, this progress reporting is the act of informing another party to the contract that certain work items or portion of the work breakdown structure have been completed (or are lacking completion).<\/p>\n

As a project\/construction\/contracts\/business manager and similar, it is imperative that you define your project execution approach as it relates to progress measurement and schedule updates.\u00a0 The \u201cwater-shed\u201d or uses of the information are enormous.<\/p>\n

In this discussion, I will use three key references:<\/p>\n