Andrew langridge
- 1. Change to Golden ThreadsChange to Golden Threads EVA 24 11th April 2019 Estimating | Cost Management | Change | Engineering Equipment & Materials | Procurement | Invoice | Contracts Field Progress | Docs | Integrator | Dashboards
- 2. Agenda • What is Change? • What does change effect • The Importance of the Golden Thread • The Difficulty of Implementing Robust Change Management • Estimation • Cost Management – Viewing Change • Impact on EV Conclusion • Summary • Questions
- 3. What is Change • Anything that changes the project • Emerging scope • Change of scope • Also • Budget transfers between scope items • Risk emergence • Risk retirement • Contingency drawdown • Uncertainty reduction
- 4. What does change effect? • Everyone agreed • Cost • Schedule • What about • Time Phased data • Risk profile • Uncertainty maturity
- 5. The Importance of the Golden Thread • Who • Requested it • Reviewed it • Approved it • What • Was the schedule impact • Cost impact • Engineering / design • Contractual • When • Was it requested • Reviewed • Agreed • funded • Why • Was it requested • Approved • denied • How • Was it funded • Was the plan changed
- 6. The Difficulty of Implementing Robust Change Management
- 7. Estimation • When should we start to control change in an estimate • At what level • What about optioneering
- 8. Cost Management – Viewing Change
- 9. Impact on EV Planne d In$1,000’s Budget at Completion (BAC) 1 2 3 4 5 6 7 8 9 10 Months TargetCompletionDate CurreActualCompletionDate 200 - 400 - 600 - 800 - 1000 - 1200 -- 11 1300 Planned = $500K : Data Date - 200 - 400 - 600 - 800 - 1000 - 1200 - 1300 Probable Cost Overrun = $300K Estimate at Completion (EAC Earned Earned = $300K Actual Actual = $400K CurrentPeriodDate
- 11. Questions