Changes will occur on every project, especially during execution. The owner’s business needs, incomplete plans and specifications, or unforeseen events will impact projects and cause change. Implementing a change is faster if necessary funding is set aside in advance or made quickly available. If the project budget is challenged every time a change is made that requires additional funding, then legitimate changes are more likely to be challenged. This causes extra costs to be incurred by contractors and increasing the potential for claims.
With OnTrackPM investors can, to their advantage, monitor overall project progress as this will correlate to the return on their investments. Investors can be confident that projects utilizing OnTrackPM will have a distinct advantage when it comes to realizing success. With their finger on the PuLSE Ⓒ, those with the greatest influence can recognize when and if the extra time and cost is justified. This makes managing the inevitable change significantly cheaper and time efficient, especially if dealt with in the context of the contract rather than after completion and handover.
Acknowledging that changes will occur and allowing for sufficiently available contingency means that decisions can be made quickly with a minimum of delay and controversy. The control framework built into OnTrackPM affords greater efficiency of process and transparency of information providing investors confidence in achieving a better ROI.