It's well-known that global projects are continuing to grow in size and complexity. These projects become even further complicated when owners attempt to make key decisions based soley off of contractor data. Ultimately, the owners are responsible for the well-being of the project, so its imperative that they invest in effective project controls so that they are not reliant on second-hand information.
One of the best ways an owner can manage their project is using an integrated approach. Integrated project controls offers great benefits for the owners of capital projects and brings together the key elements of planning and controlling a project.
Here are three reasons why owners should use an integrated approach to project controls:
1. An Objective View of the ProjectOwners need to be able to analyze and make decisions independently from contractors. To do this, it is important to have centralized and accurate project data to work from. This way, owners have the ability to make decisions based on objective facts - not subjective opinions.
2. Early Identification of Potential ProblemsIntegrated project controls improves the organizations capability to manage the project within budget and schedule constraints. It provides early warning indicators of potential problems so that they can be assessed and managed - while they are still relatively small!
3. Accurate Analysis of Current Status and Likely Future OutcomesIts possible for contractors to perform their roles independently while still providing enough detailed information to the owner so that they can perform their own analysis and evaluate the state of the project. By using an integrated project controls system, owners are able to conduct anaylsis, assess project performance and trends, determine corrective actions if required, and make strategic decisions to keep the project on-track.
Interested in reading more about why owners need project controls? We have a whole white paper on this exact topic!
This white paper explores best practices for owners to follow in regards to effective project management. It analyzes the level of control an owner needs when managing their projects, the various steps an owner can take to ensure that their projects are being managed correctly, and highlights the benefits to integrated project controls.