Space Project Financial Control & Scheduling
Cost and schedule management are critical to achieving a successful completion of a space project.
This large domain which includes finance, procurement, general business management and contract management, requires highly professional consultants, able to communicate with a wide variety of stakeholders and the necessary organisational and analytical skills to maintain an overview of a project’s progress against plans. Within high-security multi-governmental agencies, and particularly within engineering environments, additional affinity with the subject matter of financial controlling is also of key importance.
To this extent Sapienza has developed an expertise in the space sector when it comes to:
- Supporting the cost estimation and planning
- Supporting the cost control
- Supporting the cost management reporting
- Supporting the planning and scheduling of projects
Financial and Resource Control Services are the most common services required and will cover:
- Creation and management of milestone payment plans
- Reporting on financial status of procurements and internal cost of projects
- Support to the risk management processes (e.g. maintenance of risk register, monitoring of risk mitigation/reduction actions)
- Assessment and monitoring of the status of the procurement actions, including activity progress, maintenance of payment plans, correctness of financial charging, invoicing and payment
- Procurement Contracts monitoring with respect to cost, payments, contract changes deviations and trends
- Preparation of management reports on these areas
Some project managers, particularly in smaller organisations, are in charge of both financial and resource control, as well as the planning and scheduling of a project. However, in large multi-year space projects, such as those managed by Institutions or Prime contractors, which will include many suppliers and sub-contractors, separating the two disciplines is a common practice. This is normally done to provide more focus and apply better specific competences within each discipline, distributing tasks to multiple resources and improving risk identification and management across the large scale project.
Sapienza’s understanding of the particularity of these types of projects has given us the opportunity to develop a strong expertise in this area with a number of highly qualified consultants. Our customer engagements mainly cover:
- Preparation, development and maintenance of the overall scheduling aspects of space project
- Establishing and maintaining regular schedule reporting from all mission elements and aggregate and integrate the schedules to a project reference schedule
- Advising on Schedule and Control methods and best practices
- Schedule analysis through Critical Path Analysis, Trend Chart Analysis and Simulations