How to use integrated cost and schedule management to deliver your scope on time and within budget
August 24, 2022 | 3 minute readWe are all familiar with the three pillars of construction and the ongoing tradeoffs faced by project managers. There will always be some unknowns on projects, but wouldn’t it be great if impacts to cost and schedule were not among them?
With today’s technology, including predictive intelligence, shouldn’t we be able to see what the schedule and cost implications of proposed scope changes are so we can make informed decisions?
Shouldn’t we be able to get a heads up of potential risks before projects are impacted, so we can take preventive steps?
Disconnected project data is a major barrier standing in the way of project managers, projects, and owner organizations that benefit from this valuable information. Too often the critical pillars of cost and schedule are managed in siloed systems, resulting in decisions being made based on incomplete information or decisions being delayed as data is gathered, integrated, and analyzed.
By connecting cost and schedule systems, processes, and data, organizations can improve forecasting accuracy, which results in a lower cost on money, improved confidence, and higher project approval rates.
By connecting cost and schedule systems, processes, and data, organizations can improve forecasting accuracy, which results in a lower cost on money, improved confidence, and higher project approval rates. They can better track project progress against the schedule and ensure scheduled tasks have been completed, decreasing idle crews and improving payment accuracy. Project managers can also make more informed decisions on change requests, by seeing both the projected cost and schedule impacts of proposed changes. Finally, by having complete and connected cost and schedule data, the risk of unwanted surprises is reduced. Construction and engineering professionals are used to managing change. It is expected. But it’s the surprises that cause the biggest cost and schedule impacts on projects.
To share some benefits customers have achieved, Assystem improved contract management and decreased penalties through full traceability of requirements by tying the work breakdown structure in Oracle’s Primavera P6 Enterprise Project Portfolio Management (EPPM) to the cost breakdown structure in Primavera Unifier. Watch the Assytem video.
Ashghal implemented a full Oracle platform including Primavera P6 EPPM and Primavera Unifier to manage approximately 900 different projects, making up the largest infrastructure program in the Middle East. “We gained visibility and transparency. This brings not only control and assurance, but it builds trust,” says Abeer Al-Hajri, manager of Information Systems Department (ISD) at Ashghal. “There is a full record of all activities and decisions, which is valuable throughout the asset life.” Watch the Ashghal video.
Primavera, the industry standard in scheduling, provides a cohesive cost and scheduling solution. Oracle’s integration of Primavera P6 EPPM and Primavera Unifier improves control and provides comprehensive data and actionable insights so you can plan and execute projects effectively and maintain them efficiently.
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Read our ebook, "Four ways to improve all phases of the project lifecycle,” to learn how integrated cost and schedule management can save you time and money.
Oracle Construction and Engineering, the global leader in construction management software and project portfolio management solutions, helps you connect your teams, processes, and data across the project and asset lifecycle. Drive efficiency and control in project delivery with proven solutions for project controls, construction scheduling, portfolio management, BIM/CDE, construction payment management, and more.
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Janet Poses
Product Marketing Director
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