Ghost schedules are not new to construction; however, their use has increased over the years as savvy owners and more sophisticated contractors see greater value in them as an added tool to manage the contract duration. While the project schedule is the official contract schedule, a ghost schedule is not defined or recognized by the contract or known to the other party. In fact, both the owner and the contractor may each have its own ghost schedule. Contractors use them to maintain a planned early completion schedule or as a production schedule to meet target dates. Owners use them as a more reliable schedule than the project schedule. Both parties may use them to simulate “what-if” studies or recovery schedules. Ghost schedules have many benefits if implemented properly, but user beware! They are also potential cons as well. All will be discussed.

In today’s construction environment of complex and multi-party projects, the risk for delays, cost overruns and impacts remains a factor in project execution. After all, time is money; the amount of time and money spent on a project often determines project success. Depending on the cause of delays and impacts and consideration of the contract allocation of risks, the owner or the contractor could suffer more than the other party. This webinar will discuss the use of Ghost Schedules and how they can reduce risk and improve the likelihood of on-time project completion. Attendees will better understand the use of other tools to manage project timelines.