Project managers rely on project controls to plan, monitor, and control projects. Project controls are processes for gathering and analysing project data to keep costs and schedules on track. The functions of project controls include initiating, planning, monitoring and controlling, communicating, and closing out project costs and schedule. Ultimately, project controls are iterative processes for measuring project status, forecasting likely outcomes based on those measurements and then improving project performance if those projected outcomes are unacceptable.
Project controls vary from business to business and project to project, but when building your framework, they boil down to three action words: plan, monitor, and analyse.
The importance
Project planning and control is a lifeline for both large and small companies. Not only are these functions scalable, but they also provide a consistent set of processes for every project that can easily be broken down into phases, tasks, and subtasks. Unlike other project management methodologies, project controls take a laser-focused approach to getting things done. For example, typical project management categories such as personnel or quality control aren’t really a factor in most project controls. The biggest difference between project management and project controls is that project management takes a holistic, detailed approach, while project controls look to budgets and timelines as the primary factors in project success. Deliverables are cut and dry, and goals are often reached at a much higher rate of success.
Project professionals know that, whether it’s a large-scale construction project or the launch of a new website for a small business, there will always be unexpected delays, additional costs, or unexpected circumstances. But without project controls to anticipate and resolve these issues, costs and delays can spiral into huge expenses and affect other areas of the business
Where does it sit?
Project control professionals sit within the project team, work for, and are responsible to the Project Manager. They are the heart of the project team. If Project Management is concerned with making informed and accountable decisions, project controls are about the necessity of being aware by “informing, monitoring and analysing” – to exercise the control needed. Project control professionals generate and maintain the information that brings awareness to the Project Manager and Senior Managers so that control can be exercised.
To craft a well-thought-out plan for executing your projects can only happen if you have a sufficient set of controls in place for your project scheduling methods. A project control system that will work for your company goals is essential to take full advantage of your PM software and guarantee smooth sailing.
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