Manan Choksi
President, Brio Solutions LLC
USA
About
Manan Choksi is the President and Founder of Brio Solutions LLC. He has over 15 years of experience managing development and implementation of complex projects and programs, including development of Project Management Information System (PMIS) for LA Metro. As a strong proponent of technology and innovation, Manan established Brio Solutions which specializes in Project Controls, Data management, Project Management, PMIS, Contract Management, Document Control and Risk Management. Brio Solutions provides innovative approach and effective strategies for delivery of a successful project.
His motto is “Every problem has a solution. You just have to be creative enough to find it.”
To connect with Manan, please check his LinkedIn profile.
Title & Abstract
LA Metro Enhanced Cost Forecasting and Exposure Based Contingency Drawdown
Los Angeles Metro is currently implementing the largest transportation infrastructure program in the United States and gearing up for the 2028 Olympic games. As a result, there are an unprecedented number of projects being undertaken and increased risk for project cost and schedule overruns. This presentation reviews recent project control process improvements and procedures implemented to improve cost and schedule forecasting with special emphasis on inclusion of risk generated exposures.
Each project’s Configuration Management Baseline that integrates the project’s scope, schedule, and costs is of upmost importance. The Project Manager, with assistance from Project Control staff, is assigned the responsibility to manage the baseline. Fundamental to the management of the baseline are regular forecasts developed by Project Control, i.e., disciplined reviews of measured progress, schedule performance, changes to scope, costs incurred, contingencies exercised, and a measure of risk analysis to ensure threats and opportunities at or beyond the horizon are considered. In generating schedule and cost forecasts, Project Control staff must be versed and responsible for including risk management considerations in their forecasts.
This presentation offers a detailed case study analysis. Join the session to further explore how this improved forecasting process works and it’s several observed benefits.
Presentation Category:
- Cost & Schedule Control
Competency Level: Intermediate