Case study
Managing Schedule Risk
A client of BRG realised they needed assistance in understanding the common reasons for time delays in managing schedule risk to strengthen their project execution. However, their knowledge base relating to project schedules and associated risks was fragmented and variable. BRG identified common reasons for project schedule delays during the initial assessment, including poor scope definition, changes in project scope, and project complexity. Control deficiencies in project management were also uncovered.
BRG provided several recommendations to address the identified issues and improve project schedule risk management. These recommendations included implementing a robust project controls function, ensuring oversight for a comprehensive scope definition and early execution plan, utilising advanced scheduling tools, understanding the drivers for efficient schedule management, managing changes effectively, fostering strong relationships between project owners and contractors, and taking prompt action when schedule slippage occurs.
By implementing the recommended actions, project teams could mitigate many project schedule delays, leading to improved project outcomes and greater success in achieving project goals. The importance of incorporating control identification and testing for their effectiveness in managing risk sources and impacts was also emphasised. The executive team recognised the significance of early risk identification and timely responses to schedule creep as crucial factors in successful project execution. Furthermore, addressing project delays, poor scope definition, scope change-related complexities, and capability issues were seen as potential ways to substantially reduce schedule risk. The outcome of effective project schedule risk management relied on understanding common reasons for timeline delays and employing proactive strategies for better project execution.
