Overview

Capital Projects Project Controls  

 About the Course

 In order to give project managers and other important stakeholders the knowledge they need to support the success of upstream, middle, and downstream energy projects, this course discusses the principles and practices of project controls. The course's main goal is to teach students how to use project controls effectively to manage engineering, procurement, and construction, increase project profitability, adhere to schedule, and deliver a high-quality, secure project. After completing this course, the participant will be able to apply these best practices to manage their project successfully by understanding the essential success elements for cost estimating, scheduling, and progress measurement.

 Participants will comprehend each step required to create and put into practice a successful project controls strategy. Project controls activities are addressed at every stage of the project life cycle (FEED, engineering, construction). Participants will learn, in particular, the actions a project leader should take at each stage of the project life cycle to manage their project and their contractor effectively.

 Instruction, moderated discussion, and practical exercises using a case study from the "real world" are used to teach the course. The exercises will consist of both individual and group tasks that will provide each participant a chance to put the theories and procedures covered throughout the course into practice.

 Target Audience

 The unique requirements connected with project controls for project professionals are covered in this course. The target audience for this document includes project managers, project engineers, project team members, project controls specialists, planners/schedulers, and project discipline team leads.

Course Objectives

•  The components of an effective cost estimation plan
• How to estimate project costs early and midway through their life cycle
• The importance of project controls in creating a project that is well-planned and feasible in terms of both cost and schedule
• The influence of project controls and measurement techniques on project definition, scope management, contracting strategy, project execution, procurement, and other factors
• Critical indicators for measuring progress that take into account earned value or the "value of work done" so that stakeholders may assess the likelihood of meeting project cost and timeline
• The many estimate classes and the supporting deliverables for each type of estimate The many schedule levels and when each level should be used
• Why it's important to create a realistic cost estimate and schedule, how to create an estimate basis, and how to create a schedule basis
• How to create a solid project controls plan and assign roles and duties to the people who will support the plan
• How to manage project modifications successfully and comprehend their effects on overall cost and schedule Problems and difficulties in predicting final project costs and completion using earned value or progress measurement
• How concerns with cost and scheduling can be revealed by applying Monte Carlo simulation to them
• How to use project controls to reduce any potential claims from contractors in the construction industry Project controls are essential for controlling field labor productivity successfully.

 Course Outlines

•  Project controls' economic justification and how it contributes to project success
• Key responsibilities for project controls on capital projects in order to support the project manager and project success
• Establishing a project controls structure and defining roles and duties are all part of planning for project controls.
• Use a schedule and cost basis to help generate costs and schedules and to inform all stakeholders of the difficulties and drawbacks of projecting costs and timetables.
• Various methods for creating cost estimates in the early stages of a project and before project funding approval
• Key outputs required for the development of cost estimates and project schedules for each project phase How to handle project change management and support a successful project using the project controls organization and baseline deliverables
• Determine the schedule and cost contingency using a risk register and simple probabilistic risk analysis.
• To establish realistic cost and scheduling contingencies, use Monte Carlo simulation.
• To gauge engineering and construction progress and handle performance issues before they become unmanageable, use "value of work done" or earned value.
• Forecast the project's final cost and completion date using earned value.
• The function of field project controls and how they assist the construction manager
• Utilize standard labor productivity measures to predict how schedule acceleration will affect costs.
• Techniques for controlling the contractor and preventing construction claims
•  Note: Exact cost estimation methods won't be discussed.