Project Execution Plan

The Geostock team is committed to Safety and the protection of Health and the Environment in the conduct of our business. We have the system, procedures and the proper certifications to ensure that the Quality and Safety of our work is uncompromised, that caverns and facilities are designed to the highest standards and in compliance with relevant codes, standards and regulations.

A Project Execution Plan (PEP) acts as the guiding document or roadmap by which a project is planned, monitored and managed.  It is a statement of how and when a project’s objectives are to be achieved, by describing the major products, milestones, activities and resources required on the project.  The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. The PEP covers the key phases of the project including design, procurement, fabrication, construction, and commissioning.  This information can be provided by referencing other documents that will be produced, such as a Procurement Plan or Construction Plan, or it may be detailed in the project plan itself. 

To make sure that everyone understands and carries out their responsibilities, the Project Execution Plan should clearly define the roles, responsibilities and levels of authority for the members of the project management team as well as project contractors.  It should set out the mechanisms and procedures concerning quality assurance and reporting.  Finally, the PEP should cover the major schedules and budgets of the project and the available resources for the project.  It should be noted that the Project Execution Plan is a dynamic document, and typically is updated as the project progresses through its design stages.

The PEP highlights the critical drivers and accordingly helps management focus on a clear path forward to support the project effort. It is a tool to be referred to for valuable decision making and communication to assist the project management team in implementing the planned strategies and policies.

A Project Execution Plan will typically comprise descriptions of the following key elements of a project:

  • Overall Description of the Project – Scope and Summary Design Basis
  • Project Organization and Responsibilities
  • Project Execution Locations
  • Listing of Major Contractors and Suppliers (as available)
  • Method of Interface Management
  • Equipment Certification and Validation Processes (as applies)
  • Quality Assurance
  • Risk Assessment and Mitigation
  • Health, Safety & Environment
  • Management of Variation Orders
  • Correspondence and Document Control
  • Project Meetings
  • Project Reporting
  • Schedule and Milestones
  • Critical Equipment Ordering
  • Cost Control and Cash Management
  • Project Deliverables and Project Measurement
  • Regulatory Issues