Learning from Billion-Dollar Projects

How to stay in control of big numbers

Jorden Oud, co-founder of Bold Advice, brings extensive experience across the aviation, maritime, and energy sectors, offering finance professionals actionable strategies for mastering project cost control. With his hands-on approach to budgeting, risk management, and financial oversight, Jorden shares insights to streamline processes and enhance project success.

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Rolf & Jorden speaking at a financial event
 

Key takeaways: 

  • Building a clear project scope: Defining project scope early prevents budget misunderstandings and helps align costs with project objectives.

  • Regular budget updates: Continuously revising budgets ensures alignment with project goals, keeping costs in check and adapting to changes. Maintaining a 10% contingency buffer helps manage unforeseen expenses, offering financial flexibility without jeopardising the project.

  • Risk sessions with stakeholders: Regular risk discussions with project teams highlight potential cost variations and improve proactive cost management.

  • Transparency with project managers and clients: Open communication about budget status builds trust and helps prevent financial issues from escalating.

  • Human oversight with technology: Digital tools increase efficiency, but Jorden emphasises the importance of human checks to catch errors and ensure accuracy.

  • Comprehensive documentation: Keeping thorough records of budgets, contracts, and expenses enhances accountability and simplifies project audits.
Jorden
Jorden Oud
Jorden Oud is proud co-founder of Bold Advice, a fast-growing Project Controls Consulting firm that provides its in-house project services to the most ambitious companies in aviation, maritime, energy, and beyond. With his deep knowledge of and strong opinions on the value of process optimisation, he will bring some key insights to the table during Mobilexpense’s 2024 Expense Summit.
Rolf Tjalsma
Rolf Tjalsma
Rolf is Chief Marketing Officer at Mobilexpense group and Chief Revenue Officer for the Expense brand.He is a trained data analyst and digital marketing expert, spending most of his career in fintech companies. Before going into marketing he build an expense management system that was later replaced by Mobilexpense.

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