Integrated Monitoring of Schedule and Cost Control for Investment Project in Energy Industry

Abstract

In Indonesia, state-owned enterprises (BUMN) manage the fulfillment of energy needs. To execute that responsibility, BUMN carries out integrated business through management of energy in Indonesia. Since energy needs will continue to grow, BUMN are mandated by government to implement accelerated programs and initiatives. Hence, BUMN will face several challenges in managing investment projects. The problems experienced usually include the need for an accurate project progress. As a solution, BUMN needs to develop Program Management Office (PMO) for investment projects, that can serve as a centralized platform for key project functions at high-level. Then, for more detail, PMO solution needs to be complemented by integrated monitoring of schedule and cost control. The solution includes systems and capabilities for various types of projects. Besides technology, maturity of people and working processes are also important. The key success in adapting the process lies on the standardization of project structure and piloting. Besides that, culture of transparency through project review cadence is needed for effective problem resolution. This study is documented using qualitative research method, by understanding the experiences of some organizations through case studies. To conclude, integrated monitoring significantly improves project transparency. The solution provides granular insight to enable interactive problem resolution