· Introduction 'Project Progress Report' · Currently in week 23 from a 30 week schedule, organization has completed 56% of project, however at this stage we should have completed 73% of the works. (schedule variance of -17%) Behind program. . We are also blowing cost as shown by the cost variance of - 4,542, tracking to be over budget. . Therefore actions need to be undertaken to ensure we get the project back on track in respect to both cost and time. . We've had some cost variations that have been client approved - connection for the utilities and storm water trench variation is approved. Electic power and data cost variations are approved and plumbing variations have also been client approved. · Allowance and contingency to risk we've adopted a couple of main strategies.The roofing cost variation and time extension has not been approved so we will need to make an allowance for it. The increased costs and and delays for the asbestos in the garage has also not been client approved and we will need to make an allowance for. Risk with he LD, we will try negotiate the cost down. Other risk include but are not lmitied to, health and safety hazards, legal issues with adjoining owners (complaints from noise, works, property damage). Ground conditions and estimation inaccuracies will also be allowed for and we have included an allowance of 25,000 dollars. · To bring the program in and not exceed completion date we will change the sequencing of the concrete slab pours. Initially there were 4/5 separate pours and we will do all the slabs, and driveway crossover in two separate pours. As the office/carpark slab is on ccritical path this will greatly reduce the risk of exceeding program, bring costs down. We may have additional costs due to extra labour to simultaneously pour concrete however the time we cut off will save cost. · To minimize risk and mazimise profit we will perform quality checks to target any defects, save time money, maintain compliance with legal and regulatory pitfalls. Encourage a safety culture and the use of PPE on site reduce the risk of liability claims. Consult with adjoining woners to ensure works aren't put on hold due to complaints. Which would effect program and increase ld chances. · The project cost report we forecasted a variance $98,122 which is showing a saving. We predict our company will make a profit of $240,762 if we can adopt the strategies we've discussed and meet the deadline.