INSIGHTS

Tracking and Reporting

At O’Hare International Airport (ORD), tracking and reporting funding to the various profiles—Airport Improvement Program Grant, Passenger Facility Charges, and General Airport Revenue Bonds—and third-party financing was critical on a monthly basis.

In addition to all other funding requirements, it is particularly important to define how federal funds need to be reported.

  1. It is important to incorporate these requirements in the bid documents to drive down the reporting responsibility to the contractors performing the work. So far at ORD, all federal reporting has been performed after the contract(s) were awarded, requiring the PM/CM staff to breakout the cost and schedule information based on the requested funding information supplied to the federal government.
  2. Lump sum contracts also need to have detailed line item reporting defined prior to bidding contracts. This drives down the reporting to the successful contractor, allowing you to compare each of the contractor’s proposals at the time of the bid. It also determines the required level for cost reporting and cost loading the construction schedule. To date at ORD, an overall lump sum or high-level line items by building have been required. ProjectTalk (Prolog) is utilized to maintain budgets, estimate costs and progress of the work, and forecast cost and completion dates with the capability to identify variances, respond to queries, and flexibility to provide report formats responsive to the requirements of the program. This program control system accepts data provided, under controlled circumstances, by consultants and the construction managers, and integrates data from various sources into a single reporting system administered and managed by the joint venture.
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