With the objective to properly control integrated EPC projects, adequate Key Performance Indicators need to be computed and followed by Project Control to monitor the effective performance of the project. In our new White Paper 2021-03 ‘What Are Key Project Control Performance Indicators for EPC projects?’ we will describe which key indicators we believe should be tracked, with a specific focus on transverse indicators across disciplines.
When it comes to EPC projects, beyond KPIs that are specific to a particular discipline such as productivity measurements or progress measurements, transverse KPIs are useful to understand the actual overall performance of the project as a whole. Such KPIs can be classified in 3 categories:
- KPIs transverse to several project control disciplines (cost, schedule & risk),
- KPIs transverse to several E-P-C-C chain disciplines (engineering, procurement, construction, commissioning),
- KPIs that are early indicators of performance issues.
Those KPIs are not complicated. However, they may not be straightforward to measure if the project setup has not accounted properly for the need to measure them, for example in terms of data coding to cross data from several sources in order to produce them at the required level of breakdown, or in terms of system in place to capture the specific data at project level.
The White Paper lists a number of such KPIs, like for example:
- The comparison of physical progress and cost progress
- Checking whether risk mitigation actions have effectively been costed in the project forecast
- Quantities of main key material
- Number of revisions of Approved For Construction documents
- Contingency utilisation
- Ratio of prepared available work packs for construction and commissioning
Read our new White Paper 2021-03 ‘What Are Key Project Control Performance Indicators for EPC projects?’ to know which indicators to monitor for the health of an EPC project. They are easy to implement and track, at various breakdown levels – provided their production has been anticipated in the data structures and data gathering processes. They give clear, straightforward indications on the actual health of an EPC project with a focus on consequential impacts throughout the entire EPCC chain. Most can be expected to be systematically reported in project performance reports.
If you can’t access the link to the white paper, copy and paste the following link in your browser: https://www.projectvaluedelivery.com/_library/2021-03_key_PCM_KPI_EPC_v0.pdf
