ABSTRACT
The key to success for the venture will be execution management to achieve the cost, schedule, and quality of the company; by definition, project management. Project management is the cornerstone for effective project controls, from project inception to facility startup. The major activities in a systems view of project management include project execution planning, contracting approach, estimating and scheduling, and the project management resources of the company. Execution planning should take place on all projects; formally on large complex ventures and less formally on smaller projects. Selection of the contracting approach and the prime contractor is the single most significant project execution decision affecting job performance. In the future it will be necessary to expand existing estimating and scheduling systems to recognize the impact of complexity factors in order to reduce the vulnerability of large projects to unacceptably high cost and schedule growth. The fundamental ingredient in the project management business, is the mobilization, integration, and management of human resources.
