Level: Intermediate
TCM Section(s)
2.2. Total Cost Management Process Map
7.1. Project Scope and Execution Strategy Development
Venue: 2024 AACE International Conference & Expo
Abstract: A methodology is a set of practices, techniques, procedures, and rules used by professionals who work in each field. Within an organization, these elements come together through its culture, an intrinsic ingredient of each corporation. A standard methodology seeks to establish a common way of working and prepare a repetition environment to develop. When a company works in such a way as to repeat the same processes, it is natural that it performs them better and better, becoming faster and more economical. In the context of project management, an effective standard methodology brings many benefits, such as increasing the chances of project success, expanding the availability of the team, eliminating unnecessary decisions, and enabling consistent reporting. This paper approaches the elements of the standard project management methodology that was developed and implemented in a Brazilian contractor from the infrastructure sector, with the Total Cost Management Framework (TCM) as its primary basis. The work presents: (i) the main challenges and elements involved in loading the route towards the standard's mindset, (ii) essential aspects considered to support a sustainable methodology development, and (iii) some practical components of the developed methodology and the benefits obtained from the implementation in a real-life project.
TCM Section(s)
2.2. Total Cost Management Process Map
7.1. Project Scope and Execution Strategy Development
Venue: 2024 AACE International Conference & Expo
Abstract: A methodology is a set of practices, techniques, procedures, and rules used by professionals who work in each field. Within an organization, these elements come together through its culture, an intrinsic ingredient of each corporation. A standard methodology seeks to establish a common way of working and prepare a repetition environment to develop. When a company works in such a way as to repeat the same processes, it is natural that it performs them better and better, becoming faster and more economical. In the context of project management, an effective standard methodology brings many benefits, such as increasing the chances of project success, expanding the availability of the team, eliminating unnecessary decisions, and enabling consistent reporting. This paper approaches the elements of the standard project management methodology that was developed and implemented in a Brazilian contractor from the infrastructure sector, with the Total Cost Management Framework (TCM) as its primary basis. The work presents: (i) the main challenges and elements involved in loading the route towards the standard's mindset, (ii) essential aspects considered to support a sustainable methodology development, and (iii) some practical components of the developed methodology and the benefits obtained from the implementation in a real-life project.