Project Reviews and Analysis

Forecasting

Lumen provides expert forecast reviews and can rebuild project forecasts from first principles when necessary. We have successfully delivered this service for projects exceeding $500 million CAD.

Our forecasting approach is built on rigor and transparency:

• Data-driven analysis – Ensuring all forecasts are tied to input documents that are updated, approved, and internally consistent.
• Performance validation – Conducting ratio analysis to align future projections with historical performance.
• Best practices compliance – Applying a structured forecasting checklist to maintain accuracy and reliability.
• Risk visibility – Utilizing standardized templates for scenario modeling and probabilistic assessments, ensuring senior management has clear insights into uncertainties.

With Lumen, project forecasts are grounded in solid methodology, providing confidence in decision-making.

Risk Management

At Lumen, we believe effective risk management is essential for successfully delivering today’s complex projects. With extensive experience in both developing and applying risk management processes, we support a wide range of industrial construction projects.

Our Risk Management services include:

• Developing risk and contingency management processes – Creating structured frameworks to identify, assess, and mitigate risks.
• Facilitating risk workshops – Using industry checklists and quantification methods to ensure comprehensive risk identification.
• Modeling risk with Monte Carlo analysis – Providing data-driven insights into potential project outcomes.
• Implementing risk management tools – Standardized templates for risk logs, contingency drawdown approvals, and risk-based forecasting.

By integrating best practices and advanced analytics, Lumen enhances risk visibility and strengthens project decision-making.

Performance Assessment & Benchmarking

At Lumen, we believe that accurately capturing as-built performance data is essential for competitive bidding and evaluating performance against industry peers. Our expertise in data capture across various industries allows us to implement best practices, ensuring the right level of detail and integration with industry groups such as the Construction Industry Institute (CII).

Our benchmarking services include:

• Developing a structured yet flexible cost coding system – Enabling accurate cost tracking and comparisons.
• Implementing a gated project delivery system – Ensuring project closeout reporting captures key performance insights.
• Designing data-driven feedback loops – Creating systems to capture past performance and apply insights to future projects.

With Lumen’s benchmarking framework, businesses can make data-driven decisions that improve efficiency and competitiveness.

Reporting & Dashboarding

At Lumen, we believe effective reporting is tailored to its audience. A single, well-maintained project dataset should serve as the foundation for multiple reports, each designed to meet the needs of different stakeholders.

For example:

• Front-line supervision – Reports focused on required productivity and available resources.
• Project Managers – Reports detailing financial, schedule and safety performance for tactical management.
• Executives – Reports summarizing financial and safety metrics for strategic decision-making.

By maintaining a single dataset, we ensure internal consistency while optimizing reports for each recipient. A well-designed project dashboard is particularly effective in presenting a clear and actionable overview of project performance.

Cold Eye Reviews

At Lumen, we believe that an objective assessment of project status is often best conducted by an independent third party. Our team provides comprehensive reviews of key Project Controls deliverables to ensure accuracy, compliance, and effectiveness.

Our review services include:

• Process documentation quality – Evaluating Project Controls plans and related documentation.
• Process adherence – Assessing compliance with established procedures.
• Change management – Reviewing processes, including dispute resolution support.
• Forecast validation – Ensuring projections are data-driven and reliable.
• Schedule quality & risk assessment – Identifying potential issues and risks.
• Systems and data integrity – Reviewing the quality and accuracy of project data.
• Proposal quality assurance – Conducting pre-bid submission reviews.
• Project readiness assessment – Evaluating preparedness before mobilization.

With Lumen’s independent reviews, organizations gain valuable insights that enhance project performance and reduce risk.