Control: 4.S.8 Risked Level 2 Schedule and Type 2 Cost Estimate
| Title | Description |
Context |
Realistic schedule and cost estimates are essential to decision making at Decision Gate 3 (DG3) and to achieve the business case value. Realistic schedule and cost estimates must be based on a project with firm scope, all key execution decisions closed and a good understanding of technical and non-technical risks and uncertainties. |
Activity |
Develop a schedule and cost estimate range based on all risks and uncertainties, integrating all aspects of the scope of work and the execution strategy. The estimated range should be communicated and aligned with stakeholder requirements. |
Purpose |
To ensure that quality business decisions are taken on a realistic range of outcomes, and to avoid value eroding schedule and cost driven behaviours. This will protect Shell’s reputation with stakeholders and preserve business case value. |
Requirements from other Standards |
None |
Evidence recorded in |
Project Execution Strategy |
Accountability for meeting Control Intent |
Project Manager |
Phase |
Select |