Key Benefits
- Standardized practices to ensure consistency, comparability and efficiency of projects
- Higher probability of projects being completed on schedule and within budget
- Measurable project performance tracking capabilities
Applicable Industries
- Energy
- Chemical
- Manufacturing
- Government
- Automotive
Project controls is the development of a project plan, inclusive of an estimate,
and then monitoring the performance against that plan throughout the project lifecycle.
Elements of these project plans include cost, schedule, and resources. Project controls
use accounting and engineering expertise to continually assess whether a project
will complete on schedule and within budget.
ERCI helps develop, implement and improve standard practices for project controls
by performing the following tasks on a scheduled, periodic basis:
- Report on monthly spending vs. budget vs. contracted authorization
- Identify real-time reserve balance and any needs for current
or near-term reserve increases
- Preserve the audit trail for Sarbanes-Oxley or internal
audit assessments
- Identify and validate contractor performance of milestones
(scope and schedule)
- Recommend payment or denial of any progress payments to
contractors
- Identify periodic changes in project risks ("watch list
items") which may materially increase project costs.
- Identify any best practices and lessons learned from similar
clients and comparable projects which could lower lifecycle costs