In fact, success factors are based on good Project Control practices, which result in good cost and schedule outcomes. For example, an IBC 2000 Project Control Best Practice Study carried out by IPA identified that good Project Control practices reduce execution schedule slippage by 15%.Īnother study carried out by the IBC Cost Engineering Committee in 1999, showed that good Project Control practices improved cost by more than 10%. Number of published articles supports the importance of project controls in the achievement of project objectives. It has been proved that the project performance is improved, if dedicated project control systems are in place.

Many companies are still following the traditional methods of control, which show a lack of utilization of project controls. Nowadays, with the evolution of project management, the need for an effective project control system is more evident. Project Controls also advises the client of the true status of the project. Project controls provides accurate and timely information to project management team that will enable them to make informed decisions and take necessary actions to correct any possible adverse situations or trends. Now let’s take a look at the role of project controls in successfully managing your projects. Project Controls is that element of a project that keeps it on-track, on-time and within budget. The key is applying Project Controls in your projects. One of the reasons is that you don’t have an effective tool or system that could give you accurate and consistent project status information. So, why can’t we finish our projects on time and within budget? Have we done whatever we’ve asked to do?

According to the Standish Group, 70% of projects are over budget and behind schedule! 52% of all projects finish at 189% of their original budget! And some, after huge investments of time and money, are simply not getting completed!

If your answer to any of these questions is NO, don’t feel bad. Do you know the status of your project in terms of cost and schedule? Do you think with all of your hard work and your team members efforts, you would be able to finish your project on time? How about finishing on budget?

Function of project control