This post is the eighth 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 implementing and using a schedule specification 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. Examples include Lump Sum Turn Key (LSTK), Engineer Procure Construct (EPC) and other similarly executed projects. In addition to the normal issues associated with bulk progress, actions or inactions by the owner can add considerable complexity to this challenge. Over the past seven years, M&M has program/project managed five projects exceeding $100 million (USD) in investment value (total installed cost). Thus, practical/practioner experience is engendered in this discussion/post. [Read more…]
