To enhance cost control and overall project performance across Valard, we are implementing a new Project Controls Framework (PCF). This framework establishes a set of minimum standards that all projects are expected to follow:
- Estimate handover to the project execution team, including contract terms, execution methods, schedule, and key assumptions.
- Execution budget and plan must be approved before any work begins.
- Weekly tracking of project quantities.
- Active management of both project schedule and budget.
- Project close-out handover back to estimating.
Effective immediately, all new projects must adhere to these standards. In parallel, we are working with project managers to update select active projects in our systems to align with the framework.
EcoSys will play a critical role in the implementation of the PCF. Training sessions will be offered in the coming months to support adoption and ensure consistency.
Using the button above, you’ll find a detailed document outlining the standards above, along with a matrix of expectations by project tier. The PCF focuses on establishing the processes, systems, tools, and documentation necessary to accurately monitor and report project performance.
By closely tracking cost and schedule, we can improve efficiency, increase profitability, and enhance our forecasting capabilities. Clear and consistent reporting will keep all stakeholders informed and aligned, enabling timely decision-making and effective problem-solving.
Your commitment to adopting this framework is essential and expected. It will be instrumental in driving Valard’s continued growth and long-term sustainability.
If you have any questions about the framework or its impact on your projects, please contact Martin Friesen at [email protected].
For more information, please visit the Project Controls SharePoint site : Project Controls Framework (PCF)
