In construction project management, time and cost are intrinsically linked; an impact on one invariably affects the other. However, discrepancies between these elements often lead to frustration, inefficiencies, fragmented work and increased project risk. Additionally, the ongoing challenge of aligning costs with schedules across a project team remains a significant concern. Our construction management experts propose a more strategic approach: by tightly synchronizing estimates, which form project budgets, with schedules, teams can significantly achieve greater financial accuracy and project progress consistency, but also significantly reduce risk.

In this session, we will examine the frequent mismatches between cost estimates and project timelines and their negative impacts on project outcomes, including budget overruns and delays. We will also highlight the cost risk benefits of integrating these elements, such as improved forecasting, better resource allocation, and improved accountability. Lastly, our experts will share actionable strategies and practical tips to overcome common integration challenges, enabling better risk management and smoother implementation in ongoing projects.

Through real-world case studies and expert insights, you’ll gain practical strategies for overcoming integration challenges, leveraging advanced technologies, and implementing proven best practices. Whether you’re struggling with incompatible software, misaligned data structures, or lack of team coordination, this session will equip you with the knowledge and tools needed to achieve seamless integration.

Here’s what you’ll gain by attending this session:

• • Identification of Common Issues: Explore the frequent misalignments between cost estimates and project timelines, and their impact on project delivery.
  • Integration Benefits: Understand how integrating data can lead to more accurate project forecasts, optimized resource management, improved accountability and reduced risk.
  • Practical Case Studies: Real-world examples from large-scale projects that have successfully implemented integration, including the outcomes and lessons learned.
  • Implementation Strategies: Learn actionable strategies and tips for overcoming common barriers to integration, ensuring smooth adoption in existing projects.
  • Technological Solutions: Explore examples of tools and technologies that facilitate effective integration of estimates and schedules.

Presentation Category: Planning & Scheduling + Cost Estimating

Competency Level: Intermediate