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Inputs: Schedule management plan, schedule baseline, performance reports, approved change requests; Tools: Progressive elaboration reporting, schedule change control system, performance measurement, project management software, variance, analysis, schedule comparison bar charts
In many industries, such as engineering and construction, the development and maintenance of the project schedule is the responsibility of a full-time scheduler or team of schedulers, depending on the size and the scope of the project. The techniques of scheduling are well developed [1] but inconsistently applied throughout industry.
Moreover, the private entity has the responsibility to raise finance during the construction and the exploitation period. [14] Usually, the public sector begins payments to the private sector for use of the asset post-construction. This is the most commonly used model in the EU according to the European Court of Auditors. [15]
Obtaining construction loans are easier with this type of contract. [9] [8] The profit margins and percentages are greater for engineers and contractors. [8] [9] Payments and instalments are made on regular basis which provides the contractor with a reliable cash flow. [8] [9] Management of the contract is a lot easier for the owner. [8] [9]
A contractor progress payment schedule is a schedule of when (according to project milestones or specified dates) contractors and suppliers will be paid for the current progress of installed work. Progress payments or interim payments are partial payments for work completed during a portion of a construction period, usually a month. Progress ...
Performance-based contracting (PBC) or results-based contracting, is a procurement strategy used to achieve measurable supplier performance. A PBC approach focuses on developing strategic performance metrics and directly relating contracting payment to performance against these metrics.