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Project Management, Reporting, and Controls Key Risks / Controls Focus for Today Procurement Management Contract Management and Compliance Cost Management and Reporting Risk Management Procurement Management Grant Covenants – Create an Abstract Key Requirements? Disadvantaged firms?

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Planning &

Management Associates, LLC

project management reporting and controls
Project Management, Reporting, and Controls

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Planning &

Management Associates, LLC

focus for today
Focus for Today
  • Procurement Management
  • Contract Management and Compliance
  • Cost Management and Reporting
  • Risk Management

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Planning &

Management Associates, LLC

procurement management
Procurement Management
  • Grant Covenants – Create an Abstract
    • Key Requirements?
      • Disadvantaged firms?
      • Prevailing wages?
      • Project Delivery Requirements?
        • Fixed Price?
        • Time and Materials?
      • Time limits on funds expenditures?
    • Utilize a checklist to ensure that any covenants are covered in the procurement process

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Planning &

Management Associates, LLC

procurement management6
Procurement Management
  • Establish clear-cut selection criteria on the front end and then utilize a scorecard to document the vendor selection process:
    • Licensing & Insurance
    • Financial Performance & Capabilities
    • Bonding
    • Criminal Matters – Civil Suits
    • Project Experience, Qualifications
    • Safety Record

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Planning &

Management Associates, LLC

procurement management7
Procurement Management

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Management Associates, LLC

procurement management8
Procurement Management

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Management Associates, LLC

procurement management9
Procurement Management

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Planning &

Management Associates, LLC

procurement management10
Procurement Management

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Planning &

Management Associates, LLC

procurement management11
Procurement Management

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Planning &

Management Associates, LLC

contract management
Contract Management
  • Prior to signing
    • Use the Grant Abstract to align contract(s) to any specific covenants or requirements.
    • Review T’s & C’s
      • Are allowable and unallowable costs clearly defined?
        • Home office overhead, travel costs, markups, printing, etc.
      • How are contract changes/modifications going to be handled?
      • Invoice issuance and certification?
      • Schedule management issues? Liquidated damages?
      • Insurance and Bonding Requirements

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Planning &

Management Associates, LLC

contract management13
Contract Management
  • Review T’s & C’s Cont’d..
    • Reporting Requirements? Frequency?
    • Submittals?
      • Utilize submittal schedules
    • MAKE SURE YOU INCLUDE AN AUDIT CLAUSE
  • Develop a Contract Abstract:
    • Timing and Frequency for:
      • Reporting
      • Submittals – Schedule, Payroll Certification, Lien Waivers
      • Invoices
    • Key Clauses
    • Cost Provisions serve as basis for invoice checklist

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Planning &

Management Associates, LLC

contract management14
Contract Management

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Planning &

Management Associates, LLC

cost management
Cost Management
  • Invoice Analysis
    • Create a checklist from the Contract Abstract
      • Scan for Unallowable Costs
      • Confirm Overhead Rates and Profit Rates are correct
      • Check for Markup on Markup, Markup On Sales Taxes, Etc.
      • Contract Lien Waivers Submitted?
      • Prevailing Wage and Certified Payrolls Included?
    • Provides evidence of due diligence and puts the contractor/vendor on notice that costs are being reviewed carefully.
    • Large projects ($50M+), consider conducting a full-blown contract audit at 30% and 80%.

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Planning &

Management Associates, LLC

cost management16
Cost Management

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Management Associates, LLC

cost management17
Cost Management
  • Change Order Management
    • Confirm that the change is legitimate
    • Identify and track the source of the change
      • Costs may be recoverable
      • Information should be tracked for future supplier evaluations
    • Prepare independent “blind” cost estimates prior to reviewing vendor’s specific proposal
      • Provides an objective basis for negotiation
      • Demonstrates due diligence on the part of the governing agency
    • Confirm that proposed change is calculate in accordance with contract T’s & C’s

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Planning &

Management Associates, LLC

cost management18
Cost Management

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Management Associates, LLC

cost management19
Cost Management
  • Cost Performance Monitoring
    • Insist on bi-weekly or monthly project schedule updates from your staff and/or vendors
    • Need to move beyond….Budget – Actuals - Open Commitments = Cost to Finish
    • Use Earned Value Analysis to tie project schedules to costs
      • How much work was planned to have been done at any given point in the project?
      • What is the budgeted cost of that work?
      • How much work has been done to date?
      • How much of the budget has been expended?

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Planning &

Management Associates, LLC

project budget
Project Budget

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budget to actual
Budget to Actual
  • This only provides us with a partial picture

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budget burn rate
Budget Burn Rate
  • Now we realize we’ve got a significant problem. We’ve pretty much burned the construction budget but we’re only about 80% of the way through the work.

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Planning &

Management Associates, LLC

estimate to complete
Estimate to Complete
  • It looks like we’re going to end up about 20% over budget on construction cost.
  • Doing this analysis provides early warnings as to where the project is headed.

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Planning &

Management Associates, LLC

risk management
Risk Management
  • Establish a Risk Identification Process
    • Determine the Participants
      • Project Managers
      • Financial/Accounting personnel
      • Vendor Reps
      • Stakeholder/ Constituent Reps
    • Define risk categories
      • Political
      • Physical
      • Logistical/Procurement
      • Financial
      • Design / Construction

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Risk Management
  • Identify potential risks
    • Project team brainstorming
    • Constituent surveys, interviews, workshop
    • SWOT Analysis
  • Analyze the Risk
    • Qualitative Analysis
      • Prioritize
    • Quantitative Analysis
      • What’s the probability that this risk will occur?
      • What will the impact be in Dollars
      • What will the impact be in Time?
      • What will the impact be in other areas?
        • Reputation, credibility, public safety, etc…

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Management Associates, LLC

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Risk Management
  • Identify and Chose a Risk Response Strategy for SIGNIFICANT Risks
    • Elimination or Avoidance
    • Transfer - Insurance, Hedging, Contracting, etc.)
    • Mitigation – Are actions available that will minimize impact on cost, schedule, quality, or objectives?
    • Acceptance – Generally chosen if costs of mitigation outweigh the benefits
  • Monitor
    • Assigned to a responsible party to document, monitor, and provide periodic status reports
  • Report
    • Needs to be an integral part of the management cycle

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Risk Management

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Risk Management

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Robert Stickney, PrincipalResourcePlanning & Management Associates, LLC

2439 Nashville Avenue

New Orleans, LA 70115

Voice: 504.621.2927

Email: rstickney@rpm-associates.com

Resource

Planning &

Management Associates, LLC