"The fact that one failed project can potentially wipe out an entire year’s profit helps put the value of Project Controls into perspective."

It is impractical at the onset of new project to anticipate the challenges/requirement of the project needed, still efforts are made throughout the project to regulate work, minimize the changes to the plan and steer the project to pre-define schedule, performance, cost and objectives. The process of keeping the project towards objective as close to plan as possible is subject of Project Control.

Phases of Project Control

1>   Setting of Performance Standards

2>   Comparing standards with actual performance

3>   Taking corrective action against gaps.

Phase 1. Standards are defined from the requirement of the project in terms of technical specification, budgeted cost, schedules and resource requirement.

Phase 2.The standards are compared with actual project performance. Schedules, budgets and specification are compared to current expenditure and work completed.

Phase 3. When actual performance deviate from standards, remedial action is taken. Work is altered or expedite. When work performance is deficient, resources are added, shifted or changed and when original estimates proven unrealistic then project goals are changed and performance standards are revised.