TCM (total cost management) vs. Project Controls

Published by Massimoluigi Casinelli on

The importance of project controls in the TCM (AACEI) model.

Introduction

TCM is a comprehensive model to manage the companies “assets”, through a structured project management approach.

The importance of project controls

An “asset” must be designed, “constructed”, managed during its cycle life and, then, dismissed. TCM empathizes project management approach across the whole life cycle of the “asset”, and for any Company’s asset.
Project Controls is a core subset of TCM model, as described in the figure below; it is .

Project Controls is a recursive process which is applied at portfolio management as well as well as at project level. So, through TCM, the best project management practices, like EVMS, may find their natural and logical integration into a “system”  which offers a model to manage the Companies assets.

From this prospective the project control becomes a strategic capability, from the Owner view point as well as from the Contractor’s one.

I believe that the project-driven organizations, which sell projects, should invest in improving their project project controls systems, as it becomes a distintive capability from the Owner prospective.

The projects Owners, on their behalf, should invest in developing project controls requirements to transfer to their Contractors.


Categories: Short notes

Massimoluigi Casinelli

Massimoluigi Casinelli

I am a chartered civil engineer and certified CCP (cost engineering and total cost management) at AACE International, with thirty years of experience in project management of the construction sector. I deliver expert planning, programme management and project controls on multibillions-Euro infrastructure programmes, including highways and railways, metro, air terminals and complex buildings (commercial, residential, schools), with some experience in oil & gas and power. I worked in advanced contexts of project management (from matrix organizations of EPC contractors to large employers organized to manage complex capital projects), by undertaking various roles in the field of project management / controls and contract management; this diverse range of experiences allowed me to gain knowledge on the various components of project controls (schedule, cost estimating, budgeting and cost control, progress and performance measurement, risk and claim management). I am an Italian citizen, currently in Italy.

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