Hello there,
Please find below some of the notes that I managed to take while going through the draft RP.
Regards,
Ghaith
General Comment:
- The RP Draft mainly addresses the cost management system requirements from a performing organization (Contractor's) perspective. There is almost no reference to the requirements from an asset owner's perspective (either the owner team or his agents (consultants) which would be at least 50% of the RP audience since each capital project involves an asset owner & a performing organization(s).
Specific Comments:
Line 111 :"cost controls will not be able to capture cost overruns" >>> This should include under runs as well. I suggest changing it to cost movement or cost change.
Line 119: spell check >>>>change "guaranty" to "guarantee"
Line 122: "the overruns on time" >>>> overruns or under runs , detect cost change in general, which in turn would trigger further investigation into the cause and effect of the cost movement and enable better decision making.
Line 128: " Once the project moved" >>> Spell check, either once the project moves or once the project progresses
Line 129 : "biding" >>>spell check "bidding"
Lines 128 - 132: The paragraph is only focusing on the cost management aspect from a performing organization (contractor) perspective only, it does not refer to the utilization of the cost management software by the asset owner or his agents; which could utilize a cost management systems to manage projects from initiation, to appraisal to execution and delivery through a stage gate system. The utilization of the cost management software is involved in each and every stage gate.
-The starting point or the kick start of a cost management software utilization is the budget authorization of any particular stage of project development. Prior to the budget authorization, the estimated (proposed) budget is located into an estimating module, which allows the project control team to develop the budget estimate and run a few scenarios of the proposed budget.
Line 169 : Change management capabilities and change management categories (i.e. : Internal Change, External Change, Scope Transfer
Line 227 to 237 : The proposed recommended practice tackles the requirements of a cost management system from a contractor's perspective only, and there is not much elaboration on the same from an asset owner perspective.
Line 256 to 259 : Control Account is also the level at which, cost, schedule, and other control dimensions will be integrated.
Line 319 : "though" spell check >>> "through"
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Ghaith Al-Hiyari PMP CCP
Project Controls Lead
SNC-Lavalin
Toronto ON
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Original Message:
Sent: 10-25-2017 15:24
From: Christian Heller
Subject: (SUBCOMMITTEE REVIEW DRAFT) PC-48: CMS (Cost Management System) Requirements
(SUBCOMMITTEE REVIEW DRAFT) PC-48: CMS (Cost Management System) Requirements
This draft RP is open for subcommittee review and comment until December 19, 2017.
Subcommittee Review
AACE welcomes subcommittee review, comment and dialog for recommended practices (RP) that are under development. The subcommittee review utilizes the knowledge of subject matter experts that have specific industry experience and perspective in order to help strengthen RP quality. The subcommittee review period for RP's is 45 days and all input must be provided during that time period. All comments on RP's are considered public and open records; therefore, by providing input on RP's, you are giving consent for the use of your comments and suggestions. All comments shall be professional and in alignment with established industry practices. Please tell your colleagues about this open review period and encourage them to provide their feedback on an industry wide document.
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Christian Heller
Director of Technical Guidance
AACE International
cheller@aacei.org
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