Scheduling and Cash Management
For schedule control, an integrated network should be drawn to
the work package level to monitor and forecast progress. Consultants
and contractors should be responsible for providing schedule status
and logic, showing work package units for which they are responsible.
It should not be necessary for the Project Management team to incorporate
into the network schedule, information which is more detailed than
the work package level. Progress should be monitored at this level
and variances can be investigated through field reports.
A Master Schedule should be developed and maintained for the owner
which shows key milestones or events at given points in time. Overall
progress is then measured against the Master Schedule.
This schedule should not be changed unless:
- A formal reprogramming of the entire project or major part takes
- The target schedule and the current schedule become so far apart
that recovery is impossible and target objectives become meaningless
- Such changes are recognized and approved by top management.
When each work package is budgeted and scheduled, summation and
a time scale will provide a cash flow profile. Expenditure profiles
corresponding to early and late start can also be generated. Actual
expenditures-to-date will provide key inputs for estimates-to-complete
and cost variance analyses.
Thus, the project control system not only schedules feasibility,
design and construction activities but also assists decision making
cost breakdown, and cash flow.