Introduction: Why Scheduling Matters in Construction Projects
welcome welcome back and we spoke about planning and scheduling we defined them now we’re going to talk about importance of scheduling why do contractors and owners alike need scheduling…
Setting Realistic Expectations for Project Timelines
well first of all owners need to get an idea on Project expected finish date many owners are not informed I’ve seen owners who want a project done in four months that this project needs 22 months…
Contractor’s Need for Feasibility and Scheduling Compliance
from the contractor’s perspective they want to ensure ability to meet the owner’s requirements or the contract’s requirement when the owner says I want this project to be completed in 12 months…
Owners Ensuring Timely Completion Through Planning
reason number two uh owners like to ensure contractors proper planning for timely finish and in this case it’s not only you know a schedule that says it’s going to…
Subcontractor Coordination and Detailed Work Planning
for the from the contractor’s perspective it’s to have efficient work plan coordinates with subcontractors now um there is something that we do in the United States…
Cash Flow Management and Financial Planning
well reason number three why we schedule projects owners and contractors both L uh you know like to have cash flow prediction and cash flow diagram in fact this is very important…
Understanding Early and Late Start Dates in Spending
I want to show you here two curves this first curve in the cash flow you see three curves all right the upper one represents the spending of the contractor if he goes with the early dates…
The S-Curve: Contractor Spending vs. Owner Reimbursement
and then I want to show you another very important curve and that curve shows the red curve red continuous curve is the spending of the contractor we call it curve…
Dealing with Lag and Retainage in Payments
however there are two problems with the reimbursement of the owner one problem is that it lags behind the contractor spends over a month and then the owner takes time…
Impact of Retainage and Regional Payment Practices
so that lag is uh problem number one for the contractor problem number two in most contracts the owner does not pay the the owner does not pay the contractor the full amount requested…
Cash Flow Challenges and Credit Line Considerations
this curve that you see here in this slide mainly there are two important things in it one the time value of the money which is the cost of borrowing money even if the contractor uses his own cash flow…
Project Control and Verification of Progress Payment Requests
all right we’ll go back to that why we schedule projects we talked about reason number three the cash flow diagram now we go to reason number four use for project control…
Change Orders and Their Impact on Time and Cost
reason number five use for uh change orders impact and what if scenarios for change orders and again I uh mentioned what the term internationally in um England and some other parts of the world…
Managing Change Orders Before Approval
change order management is is is a whole uh area that we can talk about it later on but what I want to mention very quickly here is that in many change orders it’s not considered change order until it’s approved…
Procurement Planning for Standard and Custom Materials
finally uh the reason for contractors why they schedule projects is to do materials procurement uh materials we can talk about all kind of materials structural material or or finishing materials…
Who Else Needs the Project Schedule?
who else needs the schedule well we said the owner and the contractor but who else the designer or the AE the design consultant in some companies some countries they call it the design consultant…
Stakeholders Benefiting from the Project Schedule
also the PMC or CM what’s PMC CM you know by the way we in the United States we are very much in love with acronyms sometimes you know those acronyms are very uh field specific…
Importance of Schedules for Financial and Legal Parties
also the government licensing for licensing and permitting legal Consultants attorneys and other you know all all the project parties need to have a you know an idea about the project…
