REPORT

Minimize Risk - Maximize Performance
February 2014

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Monitoring & Controlling Projects

 

 

The success of any project comes down to project management. As they say, " you cannot manage without measuring first". Once the design is complete, monitoring and controlling a project is the single most important task, and this duty rests on the shoulders of the project manager. With this responsibility, it is essential that project managers have an in-depth knowledge of monitoring and controlling methods for completing projects successfully.

 

Monitoring & Control

 

Monitoring work on a project is a critical, and time-consuming activity of project management. Routine monitoring is needed to ensure the project team is meeting the budget, schedule, and Client and quality objectives. This includes monitoring the production activities and associated costs to ensure the project will be completed on time, within budget, and meets the standards set by the Client. This involves the evaluation of performance parameters through observations, meetings, in-progress reviews, and reports. This information is used to make decisions in controlling the project. Project control is exercised by meeting with team members and sub-consultants on a regular basis, providing them direction for keeping the project on track in meeting objectives. When the results of monitoring key parameters indicate that a potential problem exists, the project manager must take positive action to determine the problem, and implement corrective actions as soon as possible.

 

Monitoring & Controlling Tips

 

Earned Value

 

A fundamental concept that must be used to measure the progress of a project is earned value. It should not be assumed that if 50 percent (50%) of the budget, or schedule is gone, then 50% of the work is complete, or visa versa. Determining the actual percentage of work completed is essential in monitoring the progress of the project. The work percentage should routinely be measured and compared with the percentages of the budget and schedule.

 

Project Monitoring Variations

 

Projects come in all shapes, sizes and complexity. There is no one single project-monitoring system or program that will suit all project types. It is important that the monitoring program fits the project type. Create and update monitoring needs based on the specific project details. Smaller projects may not need complex monitoring systems and protocols; however do not increase your project risk by applying simple monitoring processes to a larger, and more complex project.

 

Project Details

 

Project managers must manage at all project levels, and be knowledgeable of the details of the project. If a problem arises, with knowledge of the project details, you can evaluate individual activities, causes of problems and possible solutions. Project managers cannot manage a project only from a higher level and let the project team manage the details.

 

Project Problems

 

No project is ever perfect. If a project starts to go sideways, reach out for help. Problems do not disappear on their own and will usually get worst without attention. The success of any project relies with how project challenges and problems are handled. Let someone know within the firm of the problem. It is most likely someone has encountered a similar problem previously. Even if fellow colleagues don't have a solution, they can probably tell you what won’t work in that situation.

 

Project Trends

 

It is important to identify trending points, and measure and manage those project trends. Too often project management look at the benefits of trends in the long-term, and do not make adjustments based on trends indicating the project may be moving off track. Unless actions are taken that changes the trend line, it will continue in that direction. Take time to understand what is driving project trends and take correct action to change negative trends as soon as possible.

 

Contracts and Project Change

 

Changes always occur on projects. The most important document needed to manage project change is the contract. Yet, there are usually only two times a contract is looked at: 1) at the beginning of a project, and 2) when there is a problem and parties want to find out who is responsible. Keep contracts updated specifically when there are changes in site conditions, scope of services, change orders and additional charges for services. The contract should always reflect the work you are doing on the project.

 
SmartRisk has successfully helped many design firms
improve their risk and practice management programs. If you are interested in obtaining more information on how we could help your firm, please contact us. 

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Thank you.


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SmartRisk



SmartRisk is a leading risk and practice management consultancy for design and building professionals. Through firm specific risk assessments, training and consulting, services focus on improving overall performance, profitability and reducing insurance costs through tailored risk management solutions.

If you have any questions about our services, or would like dicusss how we could assist your efforts, please contact us.

Thank you,

Timothy J. Corbett, BSRM, MSM, LEED GA
Founder & President
626-665-8150
tcorbett@smartrisk.biz
www.smartrisk.biz.

Copyright and Information Only. This newsletter is for information purposes only and should not be construed nor relied upon as guidance, regulatory or legal advice. Readers should consult with appropriate counsel regarding their specific situations and circumstances. SmartRisk shall not be liable for any errors in content, or for any actions taken in reliance thereon.

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