Integrated Master Schedule (IMS)
Project management teams (PMTs) face many risks as well as opportunities when executing multi-faceted projects. A PMT will find more risk than opportunity unless it is using an Integrated Master Plan as a road map to drive goals and objectives. This highly detailed plan needs to include the critical path, resource allocation, priority, and logic. The PMT also needs a fully integrated schedule to monitor progress and performance, quickly identify deviations, and plan recovery and mitigation options.
The primary purpose of an Integrated Master Schedule (IMS) is to provide all project participants with a consistent tool for planning, executing and tracking technical, schedule, cost and risk activity. This tool supports the PMT in managing today’s complex projects which are not only schedule driven but also have critical cost requirements. The IMS documents the master plan’s road map to accomplishing owner goals and objectives and includes all project and program milestones.
LCE will develop the Integrated Master Schedule with input and participation from all parties involved in the project. This schedule will tie together the following baseline documents in the required level of detail:
- Prime Contract – The version of the contract signed by all parties, including any known amendments or change orders.
- Project Scope – The written scope of work for the project that includes both the Scope of Facilities and the Scope of Services.
- Project Execution Plan – The overall execution plan for the project which defines execution strategies and methods.
- Project Estimate – The estimate (budget) of the overall cost to execute the project, which forms the cost-control base for the project.
- Management-Level Schedule – The high-level schedule which defines major activities and interfaces, summarizes the various phases of the project, and identifies all major milestones.
- Risk Assessment – The results of a formal risk assessment which includes identification, evaluation and mitigation actions.
If required, LCE can also maintain your IMS, including updates to the schedule and reporting on progress.
Benefits of Using an Integrated Master Schedule
- The IMS provides your project management team with a consistent tool for managing critical activities, assessing progress and performance, and fully utilizing resources. By integrating people (experience), process (consistency) and tools (format and structure), the IMS measures progress through the execution life cycle.
- Potential risk or opportunities can be identified early, enabling your project management team to play “what if” scenarios and look at potential mitigation options that will reduce risk to achieving fixed milestones.