"Delay Monitoring and Tracking Plan in a Pandemic World" is the third installment our CV19 Action Plan. In it we have outlined four key recommendations which incorporate many of the industry-leading processes that have evolved significantly over the last 15 years and which will help manage through this mess.
Never in our lifetime has the global economy halted and delayed a significant portion of ongoing construction projects with some of the most difficult impacting issues to assess. Deep supply chain impacts, resource constraints, health and safety effects, and cash flow challenges are swelling through the industry like a wildfire. The social distancing of trades and tradesmen presents an impact issue that is sure to present challenges that could have a macroeconomic effect. To throw another wrench into this situation, all parties will be financially impacted in multiple ways – not just on their construction projects, resulting in a compounding effect on delay and disruption. In essence, it appears that the construction industry is up against its biggest challenge of our time – along with so many others. It truly is unprecedented.
Because of the state of the industry, and the global economy, most stakeholders will be seeking financial relief on their projects now and for the foreseeable future. Many are placing faith in Force Majeure clauses of their contracts – but reliance on this clause alone will not justify funding for the overruns, impacts and delays. Owners, Banks, Insurance companies and Government entities will question the methodologies and accuracy of analyses used to quantify delays and resultant damages. So, if there ever was a time to take schedule management and analysis processes seriously, the time is now. A well-designed delay tracking and monitoring control will help minimize the overall delays to projects that are being impacted and minimize the number of disputes, decreasing the risk of litigation.
While many may believe their organization has an industry-leading delay monitoring and tracking process in place, industry data says otherwise. The status quo, wherein a revised schedule output file is presented in .pdf format without transparency into the delays and impacts as well as the scheduling changes that were made, do not allow for collaboration and meaningful discussions which challenge the analysis and feasibility of the plan. Given the challenges we are facing, more is required. Having best-in-class processes requires:
- Project Controls designed to enforce schedule quality, accuracy and feasibility
- Ongoing critical path delay analysis performed by qualified and experienced people
- A collaborative process of schedule update and analytics reviews where delays are discussed amongst the stakeholders in accurate and transparent manner on a monthly basis.
- Resolutions and plans founded on objectivity and an approach involving all parties input before coming to a final settlement.
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SmartPM™ was founded by Construction Industry Professionals who saw the need to solve a chronic problem in the construction industry; too many projects suffer from delays and cost overruns caused by the misinterpretation of available project data. SmartPM™ is a real-time automated analytics platform that translates construction schedule data into objective, reliable, and concise visuals all stakeholders can understand and utilize proactively to address critical project risk issues. Automation allows for on-demand answers so better decisions can be made and the project can move forward.
For additional support here, please give us a call at SmartPM or reach out to me directly via email at email@example.com. We are here to help keep everyone on the same page and working together through this difficult time.