Technical Meeting Abstract:

The Rattlesnake Mountain Section (RMS) of the Association for the Advancement of Cost Engineering International (AACE) is pleased to announce the next technical meeting.  The meeting will be held on Tuesday, May 22ndYou are cordially invited to the meeting as follows:

Subject Description:  The AACE RSM Section will be holding its next technical meeting on Tuesday, May 22nd, 5:00-7:00 pm at PNNL in the ETB Columbia River Conference Room (see attached map).  There will be a 30 minute meet and greet followed by the presentation beginning at 5:30 p.m.

This presentation, Performance Drawdown and Forecast Factoring, will be presented by Mr. Mike Bensussen.  Mr. Bensussen is currently a Project Control Specialist for the Mission Support Alliance subcontractor to the Department of Energy in Richland, WA.  He’s actively applying the factoring methodology in his current role and this will be a preview of a presentation that will be given at EVM World 2018 in Ft. Lauderdale, FL, at the end of this month.  Mike’s been an active member of AACE since 2014 and is the current Vice President of the local Rattlesnake Mountain Section.  At the national level, Mike also volunteers his time as a member of the associate board of directors for education.

Abstract: Project reporting tools that generate graphical representations of performance data will continue to be a mainstay of project management best-practice. If a pictures tells a thousand words, then the performance reporting S-Curve is an invaluable tool. An S-curve (sometimes called a “cumulative distribution chart,” “velocity diagram,” or “EVMS plot”) is an illustration of the project’s cumulative cost, labor hour progress, and/or other quantity data-points plotted on an axis as a function of time. The term is self-evident upon viewing such a picture; the cumulative plot of the data points usually resembles the shape of the letter S. But for a majority of the iterations this author has encountered, the traditional S-Curve leaves much to be desired. In terms of conveying the most useful information in the timeliest of fashions, there is room for improvement. A typical S-Curve will focus on the ground that the project has already tread and pay less attention to informing the audience with regard to where the project is going. In an effort to complement and enhance the value of the traditional S-Curve, this paper will recommend the inclusion of Performance Drawdown indicators as well as the use of Forecast Factoring to inform projections of remaining BCWP on the project. With tried and true, real world examples, it is this author’s desire that other EVM and Project Management practitioners will find this information beneficial for use on their own projects.

 

Please RSVP by sending an email to: RSM AACEi Board member, Chris Koerner at: Christopher_C_Koerner@rl.gov.