One of the most controversial issues in Project scheduling is the question of float ownership. Opinions vary in this respect and it also greatly depends on the format of the contract. The uncertainty on the outcome of the debate leads to float being hidden in Project schedule. As a result it is not really controlled by the Project Manager and this leads to significant performance issues. We firmly believe that the Contractor should own its float, and that it should be made visible in the schedule in the form of a buffer to constraint delivery and measure performance. Discover why and how in our new White Paper 2016-10 ‘Why the Contractor Should Own the Float in Lump Sum Projects, and Why The Float Should Be Made Visible’.

In contractual discussions related to schedule, the respective responsibility of the Owner and of the Contractor is always a matter for debate. These issues have created a large jurisprudence which evolves constantly, and is the subject of many contract management books.

One such subjects is the ownership of the float, i.e. the time lapses between activities or at the end of the project, which allow some buffer, and which can be used to cushion delays without impacting completion dates.

We believe that for lump sum contracts or equivalent, a general rule should be that the Total Float should belong to the contractor up to the point of showing it plainly in the Project schedule, in order to protect it.

Explicit buffers can then be used to protect the Contractor against consequential impacts of Client delays, as shown in an example in the White Paper and below.

Float ownership is a serious issue and ideally an understanding should be reached between Client and Contractor that should allow the Contractor to materialize explicitly a Project Buffer in the schedule. This practice has the benefit of increasing Project delivery reliability, gives a much better handle on the Project Manager about the usage of its resources, and potentially induce easier demonstrations of Extensions of Time. Read our new White Paper 2016-10 ‘Why the Contractor Should Own the Float in Lump Sum Projects, and Why The Float Should Be Made Visible’ to understand better the issue.

If you can’t access the link to the white paper, copy and paste the following link in your browser: http://www.projectvaluedelivery.com/_library/2016-10_Float_Ownership_v0.pdf