Method
Mitigate & Take Action
At P&M, we believe in a proactive approach to Mitigate and Take Action throughout the project lifecycle. Our methodology is an iterative and collaborative approach to project controls that has been proven to: Deliver Project On-Time and On-Budget Avoid Surprises & Crises Create Visibility & Credibility Facilitate Proactive Decision Making Minimize Cost and Time Impacts
Read MoreReporting Summary
The management of project information and the manner in which that information is analyzed and reported can both establish and maintain credibility with internal and external stakeholders. Our reporting experience will increase project management decision making, increase Project Manager accountability, improve credibility and visibility, and provide consistent accurate cost forecasts. Routine and ad hoc presentations…
Read MoreForecasting & Contingency Monitoring
Forecasting is used to assemble the “estimated cost at completion” and is updated as often as necessary to reflect projected final costs. Forecasts include actual costs; commitments or contracted costs; trends that are and deemed appropriate to forecast, contingencies, and other “soft” cost elements. Forecasts are primarily derived from the Cost Trend Logs. Forecast analyses may also…
Read MoreCost & Schedule Variances
COST VARIANCESAs estimates and cost forecasts change, the variances are sometimes difficult to spot and the cause for the changes are lost. Because of this, we have developed Myriad™ to allow users to quickly create variances between any two sets of cost data. The variances allow you to see at-a-glance the fine detail of how the…
Read MoreUpdate Risk and Opportunities
P&M provides trained risk workshop facilitators and technical consultants in support of updating the risk registers for the Capital Construction projects. Monitoring and tracking risks should be be facilitated with additional risk workshops and updates throughout the project life cycle. Additionally, the Risk Register is regularly reviewed and updated via input from project meetings and…
Read MoreEarned Value Management
We track such things as Earned Value to see if the project is staying true to the budget and planned burn rate. Project controls become even more important when changes occur as a result of unforeseen conditions, scope change etc. Any time there are unforeseen expenditures, we document the cause of the changes and who…
Read MoreCost Controls
The most basic purpose of Cost Controls is to establish and control budgets, identify and evaluate cost trends and actual expenditures, and provide information needed to maintain an accurate forecast of cost at completion. Cost Controls consist of the tools and methodologies, and management best practices that enable projects to be delivered in a cost-efficient manner and…
Read MoreSchedule Controls
Baseline Schedule ReviewSchedules are typically complex compilations of input from multiple stakeholders. A schedule review seeks to ensure that the schedule reflects the defined scope, is suitable for control purposes, meets the stakeholders milestone & contractual requirements, and all parties agree on and understand its content, including its probabilistic nature in relation to various agreements…
Read MoreTrends & Commitments
During the lifecycle of a typical project, events occur that create deviations from the original project plan. These deviations can result in scope, cost and/or schedule changes that must be defined, analyzed, documented, and managed. Anticipating, evaluating, and forecasting cost and schedule impacts greatly improve the successful management of large and complex capital improvement programs. To…
Read MoreProject Management Subsidiary Plans
A Project Management Plan is a formal, approved document that defines how the project is executed, monitored and controlled (PMBOK Guide 4th Edition). It can either be at a summary level or detailed and maybe composed of one or more of subsidiary plans depending on the requirements of the project. Each project should be treated uniquely and needs…
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