Time IS NOT Money

Keith Pickavance, President of the Chartered Institute of Building (CIOB) gave a keynote presentation at the 2008 PM Asia conference on how to manage the risk of delayed project completion in the 21st Century. I was privileged to chair Keith’s session and since then have joined the CIOB team working on developing a scheduling practice standard.

The presentation discusses research earlier in 2008 by the CIOB which revealed a high proportion of complex construction projects are likely to be finished more than six months late, due to poor time control. To make this important address available to a wider project management audience, the CIOB has now launched a free online broadcast of the presentation.

In this presentation, Keith highlights the history of managing time in construction, and shows how modern technologies can be employed to control the risk of delayed completion. He commented, “Time is not money; with money you can put it on the table and you can see it, and if you leave it, it may even accumulate – whereas with time, you can’t see it or touch it. It expires at a regular and consistent rate whether you use it or not.”

You can view the broadcast by clicking on: http://www.multichanneltv.com/ciob/cio004/

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