January 2015

Risk Management

Use a schedule confidence tool to manage project risk

On most industrial projects, the baseline schedule completion date and the indicated schedule completion date are typically the same, unless the schedule is forcibly re-baselined. Key learnings have indicated that a reevaluation of the scope, schedule and budget is essential.

Shaw, J. L., CH2M Hill

Your project team members have just completed the biweekly schedule update, and the planning department has made the needed updates and minor corrections to the project logic. Inevitably, the question is asked, either internally or externally: How confident are you with the indicated project schedule date? What typically ensues is a summary of risk items or a printout from the schedule tools seeking to give confidence in the self-prescribed date—none of which has ever provided a thoroughly satisfactory response. On most industrial projects, the baseline schedule completion date and the indicated schedule completion date are typically the same, unless the schedule is forcibly re-baselin

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