Foresight and Planning
Before the shovel even hits the ground, and regardless of the robustness of the planning process, project owners must evaluate and understand what risks – both forseeable and unforeseeable – a project inevitably presents. Project oversight offers an on-going independent and comprehensive review of a project, including its people, processes and effectiveness. Project oversight begins during the planning phase and continues until the project’s completion. Oversight services evolve over the course of the project, but ensure that, at all times, the project is being performed using best industry practices, prudent management decision-making and effective and transparent project controls and reporting methods.
Learn more about independent project oversight from our white paper: The Value of Oversight and Transparency on High-Risk, Bet-Your-Company Projects.
During a project oversight engagement we perform a variety of services including observations, recommendations and risks regarding the following:
| Definition Phase | Planning Phase | Execution Phase |
|---|---|---|
| Communication Plan | Project and Corporate Governance | Monitor Contract Management |
| Process for Scope Definition | Project Controls Systems and Earned Value Management Plan | Project Team Mentoring and Suggest Opportunities for Performance Improvement |
| Regulatory Strategy | Control Budgets (detailed vetting of the process, gaps, integration of risks and contingency development) | Governance Compliance |
| Contracting Strategy | Schedule Development | Ensure Regulatory Documentation for Major Decisions |
| RFP and Bid Review Process | Monitor Schedule, Cost Performance and Ensure Functionality of Project Controls | |
| Engineering and Procurement Status | Change Order Review | |
| Project Organization | Claims Avoidance and Mitigation | |
| Risk Management Plan | Commissioning Plan | |
| Project Reporting and Metrics | Contract Closeout | |
| Dispute Resolutions |
Effective project oversight leverages independent and objective perspective to identify and manage risk. Modus Strategic Solutions, Inc. brings unrivaled expertise through a specialized understanding of the risks that plague complex projects, and an authoritative voice to benchmark against industry best practices. Our team of experts has been on the ground and in the board room for multiple, long-term large capital projects, providing meaningful oversight to the stakeholders throughout multiple layers of an organization.
Who Benefits From Project Oversight?
We tailor our services to meet the needs of our audience.
| Executive Management/ Internal Audit | Board of Directors | Government/ Regulators | Project Teams |
|---|---|---|---|
| Effective and independent “eyes and ears” | Unbiased and regular reporting | Independent review and oversight | Sounding board |
| Strategic and consultative advice on risk | Timely and actionable information | Transparency to project status | Strategic thought partner |
| Mitigate and manage risk | Assurance on return on investment | Ensure value for taxpayers or ratepayers | Independent perspective |
| Provide expert competency to regulatory bodies | Identify risks and mitigation strategies based upon direct experience | ||
| Benchmarking and lessons learned |
A Collaborative Approach to Oversight Services
Our team brings a wealth of experience to each and every project, and we encourage our clients to leverage that experience. Our oversight team members believe that it is important to relay our observations and recommendations to the project team in “real time” in order to solve problems as they arise.
Clear Perspective and Reporting
- Preparing independent reports that reflect our unrivaled experience and understanding of industry best practices and navigating the risks that plague complex projects
- Translating “construction-speak” to ensure that project issues and status are easily understood by non-construction professionals
- Benchmarking project performance metrics against key performance standards
- Forecasting budget and schedule outcomes
- Identifying risk and potential mitigation strategies at an early stage
Partnering for Success
- Working in concert with a project owner’s audit team to measure compliance and provide additional subject matter expertise to identify enterprise-level risks
- Bridging project management and audit teams to target the standards that matter most to project success