Project success is determined by delivering work on time and within budget. In order to achieve this, project managers must have access to the right data at the right time. Real-time dashboards and intuitive reporting features supplied by a project delivery software tool, such as Proteus, have become invaluable to…
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The Value of Work Done (VOWD) is important for oil, gas, and renewable energy projects as it shows a combination of progress and financial performance. Ensuring the successful completion of a complex project requires comprehensive control over various aspects including quality, quantity, costs, and schedules. Continuous monitoring throughout the project…
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Baselining and forecasting are both important in running successful projects. Baselining provides a solid foundation to measure performance while forecasting helps project managers anticipate and address challenges. Baselines and forecasts are important in project controls, helping with planning, monitoring, and adapting to project changes. Together, they enable project teams to…
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People often use the terms "project management" and "project controls" interchangeably, but they are not the same thing. Project controls are a subset of project management. In this blog, we will define both project management and project controls and explore how they are distinct from one another. It is important…
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The successful completion of a project on time and within budget is a pervasive challenge of project controls faced by project teams worldwide. Despite the advances in project management tools, project controls solutions, and methodologies, statistics show that 72.5% of project managers fail to consistently meet the agreed project schedule,…
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Staying on budget, meeting deadlines, and delivering high-quality outcomes determine project success. Whether it is a project in the energy sector, engineering or construction, cost management is essential to keeping your project’s financial performance on the right track. Not managing costs properly can lead to going over budget, which can…
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Change is inevitable in the life cycle of a project. Being able to adapt to and navigate change is important for project success and can give you an advantage over your competitors. However, there is no denying that making alterations to a project can be challenging, disruptive, and daunting. This…
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If you work in the world of projects, you will be very aware that efficiency is the name of the game. It's all about getting the job done right, on time, and within budget. That's where two key players step into the spotlight: Earned Value Management (EVM) and the Schedule…
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Monitoring utilisation rates involves measuring the available time used for billable work. In amongst all the metrics project managers track, if you work in a project consultancy (think Worley Parsons, Wood, Genesis, etc.,) this one is the king. However, monitoring and optimising a team's utilisation rate is the one critical…
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