MANAGING RISK OF DELAY – Recognition and Notice (Part 9)

This post is the ninth in a series of discussions regarding various aspects of time management as it relates to the risk of delay.  More specifically, we have titled the series MANAGING RISK OF DELAY, since we focus heavily on the managerial aspects of program / project management.  This post addresses planning for and implementing recognition and notice as a managerial tool.

The challenge associated with managing time is common to virtually all projects.  This challenge is true for most project management situations.  It is intensified in the case of larger and more complex projects as well as fast-track (an ambiguous term) and high technology (similarly, an ambiguous characterization) projects.

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 – please see earlier posts on these topics] and a method to recognize variations from the baseline.

Further, the managerial team must have an effective process to provide timely and compliant notice of the variance to the time baseline. [Read more…]

Contract Notice and Recognition (Part 1)

Most major Engineer Procure Construct [EPC], Lump Sum Turnkey [LSTK] and Construction contracts contain requirements or provisions for Notice.  Simplistically, notice is the act of informing another party to the contract that an important event has (has not) occurred.  These events tend to be related to negative consequences.

In this discussion, I will use two key references:

Bramble introduces the subject as follows (focus is on delay): [Read more…]