An effective system of project controls not only provides key cost and schedule information, but also provides the basis for effective communication and timely decision making. When project team members are confident in project status and project stakeholders get accurate, timely, consistent answers to their questions, it is a good sign that the project controls are effective.
Expert project controls strategies that deliver project success.
Our experts serve as resource stewards, effectively delivering an effective system of appropriate technologies and project controls that not only provide key cost and schedule information, but also the basis for effective communication and timely decision-making.
Client savings during the past 5 years from change order reduction/elimination
Effective cost management involves the establishment of an achievable, realistic total project budget and the application of cost management tools and techniques to ensure the project is planned, designed, procured, and constructed to that budget. Our cost management services include master budget development, construction cost estimating, change management, value engineering, and cost reporting.
Time is a critical variable that can adversely impact project cost. The project schedule should identify all the tasks, milestones, and critical path work items for the project. It should provide sufficient information to coordinate the activities of all project phases, with special focus on the dependencies between work items. Initiating the project with an unrealistic schedule can dramatically affect costs and overall project success. Our schedule management services include master schedule development, schedule specifications, schedule management, earned value measurement, and schedule close-out.
The first step in an effective risk management strategy is to acknowledge that the potential for risk consequences cannot be eliminated, only mitigated. The best method for dealing with the uncertainties inherent in capital projects is to develop and implement a robust risk management process. Cotter will work with the project stakeholders to identify all potential risks and assess them based on probability and severity. For the most severe and probable risks, Cotter will work with stakeholders to determine proactive mitigation strategies. As the risks come to resolution, the risk tracking data is updated to include the results, along with notes related to the resolution and any “lessons learned” related to the risk.
Information management is a critical component of an effective project controls strategy. Capital projects generate large quantities of specialized documents that must be carefully distributed to the appropriate recipients and stored for access and legal documentation. Creating an environment where everyone is working from the same information database, with standard definitions and processes, yields tremendous benefits.