Project time schedules are incredibly complex. Understanding when and where a project slips relies heavily on robust risk management, which can be a crucial turning point for delivering a project on time and within budget.
Frequently in construction, manufacturing and rolling stock sectors, organisations are up against ambitious deadlines and finite resources, meaning project delays and costs escalate and cannot always be mitigated. This typically results in the onset of multiple costly claims, challenging contractors and project managers to meet the demands of management teams and legal departments whilst continuing to progress the project to prevent further disruption.
Despite knowing the technical details of a project inside out, clients often struggle with carrying out a structured analysis of the problem areas and risks in order to build their case. A cold eye review with the eyes of an independent expert helps to pinpoint where these key weak spots lie through structured assessments of:
- Project documentation
- Time schedules
- Budget and cost development
- Progress reports.
Data-driven forensic analysis tools, such as FTIScheduLAB, analyse time schedules and respective underlying data to detect trends, missing logic, constraints and hotspots to reveal project risk. Even in extremely complex projects, we normally know within a few days where the project has slipped. Reliable information of this scale and speed is invaluable and helps clients to:
- Move quickly as the key issues are identified early
- Direct focus to save resources
- Minimise distraction of the project team from their core business
- Inform case strategy
- Streamline external communications based on solid findings
- Manage expectations and provide a realistic assessment of risk.
For further information on how FTI Consulting can assist you with the preparation of complex claims, please contact Dieter.Iglhaut@fticonsulting.com