Over the last decade, the varying levels of budget constraints experienced by all industries in Australia due to external drivers has encouraged companies to drive efficiency initiatives throughout each facet of company operations to effect self-preservation in the increasingly competitive global market. Evidently, along with maintenance and general operational budgets, capital expenditure purse-strings have been tightened and in doing so, a heightened focus has consequently been placed upon Project Controls. In addition to a lack of capital expenditure allocation, the consistent failure of capital allocation underspend in major business proves detrimental to business growth and continuous improvement.

Proven to directly influence project delivery success, robust Project Controls through diligent application of processes and a skilled use of tools, are an effective means of monitoring and implementing corrective actions to influence the overall health of any project at any stage within the project lifecycle.

Project Controls is often broad and all-inclusive, it can be typically concentrated to the management of data through analytical processes to actively influence the time and cost outcomes of a project or portfolio. Although Project Controls are often perceived as purely a data collection function for reporting purposes, active Project Controls is instrumental in driving efficiencies, cost and schedule forecasting along with gauging overall project status and business risk position.

Effective communication is key in all elements of business, none more so within Project Management where there is an expectation from internal and external stakeholders to be adequately informed on a periodic basis. The difference between Project Controls and effective Project Controls boils downs to transparent and concise data communication to key project stakeholders so that all decisions can become informed decisions.

With capital expenditure budgets being dusted off after a decade of minimal capital spend, the value of Project Controls has become a must-have in the efficient successful delivery of projects today.


Author: Alex Hanly 

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