Level: Intermediate
TCM Section(s)
8.1. Project Control Plan Implementation
11.2. People and Performance Management
Venue: 2024 AACE International Conference & Expo
Abstract: As the world works to rebound from pandemic-related issues, including an unreliable supply chain and high inflation rates, one can see a trend toward more significant consideration of alternatives to the traditional and often adversarial contracting practices one often sees between owners and vendors on large capital projects. More collaborative agreements and operating models can be found in integrated project delivery (IPD) or project alliancing. Under such models, key delivery partners must work together during a defined preplanning period to develop the project scope, schedule, and budget.
Now more than ever, ensuring the validity and accuracy of the estimates that form ones project baselines need to be a top priority for all parties to ensure the success of these collaborative partnerships. This paper discusses several lessons learned from independent estimate reviews and provides observations and recommendations that take into consideration these earlier engagements and contracting strategies.
TCM Section(s)
8.1. Project Control Plan Implementation
11.2. People and Performance Management
Venue: 2024 AACE International Conference & Expo
Abstract: As the world works to rebound from pandemic-related issues, including an unreliable supply chain and high inflation rates, one can see a trend toward more significant consideration of alternatives to the traditional and often adversarial contracting practices one often sees between owners and vendors on large capital projects. More collaborative agreements and operating models can be found in integrated project delivery (IPD) or project alliancing. Under such models, key delivery partners must work together during a defined preplanning period to develop the project scope, schedule, and budget.
Now more than ever, ensuring the validity and accuracy of the estimates that form ones project baselines need to be a top priority for all parties to ensure the success of these collaborative partnerships. This paper discusses several lessons learned from independent estimate reviews and provides observations and recommendations that take into consideration these earlier engagements and contracting strategies.