What is a Capital Project?
Probably the most 'traditional' type of project - typically a
project with a single focus, that is large and complex to undertake
and has clearly identified start and finish points.
These projects are often managed or supervised by an individual
or small team and the management role is targeted at getting the
project completed within the required time-span.
Resolving problems arising from unexpected events and ensuring
that suppliers and contractors operate in a co-ordinated fashion
are all part of the task in hand.
While most building or civil engineering construction project
fit the definition of a Capital Project, many other projects show
a similar management requirement - e.g:
- Extension to an existing manufacturing site
- Installation of a new production line
- Development of a new product
- A major software development and installation project
- Office refurbishment or re-location
- A major show or exhibition.
Key Management Parameters
The project life-cycle is usually split into two parts:
- The original planning to gain an agreed work schedule between
all parties, establish key start and completion dates
- Identification of milestones that the project has to fit in
with other aspects of the business (e.g. the temporary
relocation of a production line).
The required level of resourcing or costs associated with the
planned implementation are always important, however it is the
elapsed duration of individual tasks, and the correct logical
sequencing of tasks, that are the primary factor determining the
overall duration of the project.
Being able to react to unexpected events by considering
different scenarios - and developing new strategies to minimise
disruption to the master schedule is a vital part of the
management role.
Required Feedback and Reporting
The clear and targeted distribution of up-to-date planned
schedules on a regular basis is the key to a successful project.
Bar Chart reports are a standard means of showing this
information:
- The fisheye time-scale facility can be used to prepare
reports that not only show the current period in detail but also
cover the entire project time-scale on a single sheet.
- Coding structures can be used to classify tasks by location,
by type and/or contractor and used to prepare summary - and
targeted reports that are specific to your colleagues needs.
- A Baseline (or original schedule) can be added to a report to
show where progress is ahead or behind schedule.
- Reports can be customised to include extra details such as:
- estimated man-hours to completion
- a colour coding that helps recipients understand what is
happening more easily.
- key facts and notes about individual tasks as part of the
project information - this will build up into a valuable
diary on when and why things happen, and what was done to
overcome them.
Collate progress information so that the completion of
individual tasks is recorded promptly and accurately - the schedule
can then be automatically updated and the revised schedule made
available immediately.
Use the resource or cost values to prepare cash flows and the
traditional s-curve report and use these to gain a real insight
into the current status of the project.
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