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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With decades of experience working on energy sector projects, the Proteus team is more than aware of the challenges that come with managing complex initiatives. We have found that our clients rely on accessing accurate project data to ensure project success. This allows our clients to closely monitor progress and…
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Project controls are the processes used to forecast and measure project activities. Project controls are an essential way to identify bottlenecks in your projects and push things through quicker. In this blog, we'll look at how using project controls in project management fits into the processes we use in Proteus.…
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Improving project controls in project management means focusing on what is physically happening on the project and comparing this to what was planned. 10 ways project controls can be improved are: Automate data collection and analysis Adopt project management methodologies Implement a robust change control process Use project management software…
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Have you heard about a single source of truth? Organizing data is a difficult task for many companies that run complex projects. They often struggle with data-related issues such as a lack of collaboration, data integrity, and data quality issues. We see this often amongst our clients before they onboard…
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Probably the most critical metric for any project manager, earned value is an excellent way to track the progress of work during a project, measured against the budgeted schedule. Now considered to be best practice in project management, calculating earned value is simplified by Proteus‘ powerful project controls monitoring and…
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