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The PEP is not a "one size fits all" document. It must be specifically tailored to meet the size and specific phases of an individual project. While attributes that are common to all projects include safety, quality, cost, and schedule, each project combines differences in scope, scale, complexity, resources, and many other factors to achieve its goals and objectives.
During the project development and delivery process, the concept and Basis of Design BOD phases of work are important alignment phases of project execution which help to address these attributes as well as many addressed within the PEP.
The PEP communicates and documents the project "map" and the overall strategic approach for the execution of the entire project for all stake holders. It also sets the tone for demonstrating effective leadership, project organization, progress measurement, and teamwork.
A good PEP provides guidance over every applicable element of a project. Such attention to detail is particularly important for the pharmaceutical industry, which faces regulation from the U. Preconstruction is critical for the successful delivery of capital projects.
These early phases of a project provide owners with a formal approach for developing and executing capital projects. In addition, these early phases help define the project scope, schedule and cost as early as possible to enable the most efficient use of resources and money, while reducing risks.
In order to achieve the necessary level of accuracy, project execution planning must be performed in conjunction with the project's capital planning.
Only by typing budget items, line-by-line, to construction tasks can a precise PEP be established.
A PEP should be tailored to meet the size, scope, and execution approach agreed upon for a project. The key components of the plan should be the same, but the level of detail is different. Every project should have some form of PEP or alignment document that encompasses the scope and organization of the project and sets the cadence at project kickoff.
While the PEP provides guidance for the execution of the project, it usually starts with a mission statement or overall goal of the project based upon the owner's requirements, such as scope, technology, business drivers owner involvement, schedule, operations, project size, regulatory environment, permitting, commissioning, licensing involvement, and expectations for ROI.
An example of a simple mission statement might be to deliver the new ABC manufacturing facility in a phased approach that is aligned with the Company XYZ manufacturing strategy and supports the business objectives of its supply chain.
Key items to accomplish with this mission include: To meet Phase 1 production dates and requirements in 1Q and Phase 2 in 3Q To provide the new facility and support facilities in a manner that support the production goals stated above To create a safe, productive, collaborative and highly motivated work culture that supports the achievement of these goals The following discussion provides some key elements that should be covered in a PEP.
Project Scope It is important to outline the scope of the project, as it forms the basis for the effort-hours and overall schedule required to complete the project from a design, procurement or construction perspective.
It also forms the basis for the project management constraint triangle: Obviously, the larger the project defined in scopethe greater the design, construction, and procurement effort it will take to complete.
The scope of work is a critical element for cost and schedule management of the project, and is the foundation of the project. Essentially, the PEP defines the "what" and "where" work will be derived. Project Organizational Chart Who is in charge?
Who has the authority to allocate costs and make changes? What is the project reporting structure?
Marc Lipschultz is a co-founder and the President of Owl Rock Capital Partners and Co-Chief Investment Officer of Owl Rock Capital Advisors. Prior to founding Owl Rock, Mr. Lipschultz spent more than two decades at KKR, and he served on the firm’s Management Committee and as the Global Head of Energy and Infrastructure. Business majors are some of the most popular degree programs out there, and with good timberdesignmag.com businesses need certain types of employees to run smoothly. Businesses need . Gate 1 Travel has provided quality, affordable escorted tours, river cruises and vacation packages for more than 35 years. We look forward to showing you More of the World for Less on your next vacation.
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Prior to founding Owl Rock, Mr.
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