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The successful performance of a project depends on appropriate planning. The PMBOK Guide defines the use of processes that relate to planning out of the processes for project management.
The execution of a project is based on a robust project plan and can only be achieved through an effective schedule control methodology. The development of a suitable Project Control system is an important part of the project management effort.
Furthermore, it is widely recognized that planning and monitoring plays a major role as the cause of project failures.
Despite the continuous evolution in the project management field, it appears evident that the traditional approach still shows a lack of utilization of Project Controls and there have been a number of articles published to support the importance of control in the achievement of project objectives. It has been proved time and again that Project performance can be improved if dedicated Project Controls systems are in place.
An IBC Project Control Best Practice Study carried out by IPA identified that good Project Control practices reduce execution schedule slip by%.
Project Controls cost range from0.5% to3% of total project, (including cost accounting), therefore, to break even, Project Control needs to improve cost effectiveness by around2%.
Project controls gives you the necessary data to know if your project is on track or derailed in terms of cash and time.
Project controls divides into2 folds:
1. Time control (planning)
2. Cost control (cash influx and expenditure)
Project Controls is plays a very important role in construction, it defines the progress or failure of a project. Every project needs to be monitored in terms of Cost and Time.
With respect to the Time, schedulers/planners should know if the project is still on-track or delayed.
On the other hand, Cost Control Engineers shall monitor the project's allotted budget against the project's expenditures. This will define the project's gain or loss in terms of cost.
In case of time delays or/and over expenditures, project control team shall devise a plan to compensate the lost time and cost.
