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Contingency Management in Program Management
August 23, 2008 | Author: PM Hut | Filed under: Lessons Learned, Program Management, Risk Management
Contingency Management (#38 in the series Foundations, Frameworks and Lessons Learned in Program Management)
By Robert Prieto
The lessons learned on several major programs have been characterized in the context of the program management framework elements previously described. These lessons learned are reflected below.
The programs reflected range from $ 1 to over $ 30 billion in size and from 4 to 30 years in duration and include both US and non-US program management delivery. Over $ 125 billion of program cost is represented by these major programs. Program management lessons learned have been “sanitized” to protect the identity of specific programs. Input derives from program managers or other senior executives and in select instances from lessons learned documents prepared as part of the post mortem process.
Lessons Learned in Contingency Management - #9 in Organizational Foundation & Integrated Framework Processes
Program 1: Use probabilistic modeling for development of contingencies in time and cost for each activity based item.
Program 2: Owner must clearly recognize the need to plan for uncertainties.
Program 3: Contingencies must accurately reflect risks facing the program and be linked to the outcomes from a formal and comprehensive risk management process.
Program 4: No lessons learned.
Program 5: No lessons learned.
Program 6: Construction Management oversight was performed by the integrated team. Oversight included quality assurance and safety review to ensure that the owners standards were being met.
Program 7: No lessons learned.
Program 8: No lessons learned.
Program 9: No lessons learned.
Program 10: Construction Management oversight on each project in the program was done by the integrated team to ensure that the requirements of the owner were met.
Program 11: No lessons learned.
Robert Prieto, Senior Vice President
Robert Prieto is senior vice president for Fluor, where he leads strategy for Fluor’s Industrial and Infrastructure group. Mr. Prieto focuses on the development and delivery of large, complex projects worldwide.
Prior to joining Fluor, Bob served as chairman of Parsons Brinckerhoff Inc. As head of PB’s board of directors, he was responsible for overseeing management performance, establishing top-level policies, and ensuring the firm’s continued long term success.
He is a member of the executive committee of the National Center for Asia-Pacific Economic Cooperation, a member of the board of directors of the Business Council on International Understanding, a member of the board of the Civil Engineering Forum for Innovation, and co-founder and member of the board of the Disaster Resource Network. He currently serves on the National Research Council’s committee framing the challenges on Critical Infrastructure Systems. Until 2006 he served as one of three U.S. presidential appointees to the Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) and served as chairman of the Engineering and Construction Governors of The World Economic Forum and co-chair of the infrastructure task force formed after September 11th by the New York City Chamber of Commerce. He is also a member of the board of trustees of Polytechnic University of New York, and was previously selected as alumni of the year by its New York Chapter.
He has had an executive sponsorship role in the World Trade Center Transportation Hub; West Coast Rail Modernization; Train Protection and Warning System; Level 3 Communications Long Haul Network and Superconducting Super Collider.
Prieto holds a master of science in nuclear engineering from Polytechnic University of New York and a bachelor of science in nuclear engineering from New York University.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information, visit www.fluor.com.
Related Articles
- Evolution of the Owner's Role in Program Management - Activity: Risk Assessment & Contingency
- Supporting Frameworks for Successful Program Management - Contingency Management
- Evolution of the Owner's Role in Program Management - Activity: Risk Assessment & Contingency
- What Is Contingency Planning?
- Contingency Planning
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