Baseline Budget (BAC)
766.00M NOK
19 Work Packages Locked
Earned Value (EV)
639.27M NOK
83.46% Progress Earned
Actual Cost (AC)
672.27M NOK
87.76% Spend Incurred
Cost Performance (CPI)
0.951
CV: -32.99M NOK (Overrun)
Schedule Index (SPI)
0.835
SV: -126.73M NOK (Lag)
Forecast EAC / VAC
805.53M NOK
VAC: -39.53M NOK (-5.16%)
Active Risk EMV
12.40M NOK
4 Active / Open Risks
0. Program Project Charter & Strategic Governance Baseline
Performance Measurement Baseline (PMB), Scope Authorization, Milestone Timeline & Team RACI Matrix
1. Strategic Identity & Business Case
Program: Skjold-Class Corvette / Stealth Fast Patrol MTB Lifetime Extension & Upgrade Program (`PRJ-SKJOLD-LEP-2025`)
Business Case: Modernize hull structures, gas turbine machinery, 3D AESA radar, and tactical Combat Management Systems (CMS) to extend the operational life of the Royal Norwegian Navy MTB fleet through 2035+. Delivers >80% of modern combat capability at <25% of new build replacement cost.
Core Goals: Certified sprint speed >45 knots; Link 16/22 datalink & NSM integration; 100% NATO STANAG 4774 / NSM cyber accreditation; Zero LTI safety standard.
2. Program Governance & Financial Baseline
| Project Manager & Controls Lead: | Frank Ellingsen (Lead Project Controller) |
| Executive Sponsor: | Royal Norwegian Navy / Forsvarsmateriell (FMA) |
| Prime Contractor: | Umoe Mandal AS, Mandal, Norway |
| Baseline Budget ($BAC$): | 766,000,000 NOK |
| Approved Scope Growth ($VOR$): | +17,650,000 NOK (+2.3%) |
| Adjusted Baseline ($BAC_{\text{adj}}$): | 783,650,000 NOK |
| Execution Timeline: | 2025-01-31 to 2026-12-31 (24 Months) |
3. Gateway Milestone Schedule (M01 – M11)
| Gate | Deliverable Milestone | Baseline Date | Forecast Date | Variance | Responsible CAM | Status |
|---|
4. Work Breakdown Structure (WBS Level 1 Scope)
| WBS | Package Description | Lead CAM | BAC (NOK) | Progress % |
|---|
5. Team Leadership & RACI Matrix
| Role | Assigned Lead | Organization | RACI |
|---|---|---|---|
| Executive Sponsor | Naval Staff / FMA | Royal Norwegian Navy | Accountable |
| Lead Project Controller | Frank Ellingsen | Umoe Mandal AS | Responsible |
| Composite Hull CAM | Henrik Dale | Umoe Mandal AS | Responsible |
| Propulsion CAM | Astrid Solberg | Umoe Mandal AS | Responsible |
| Combat Systems CAM | Silje Moen | Umoe Mandal AS | Responsible |
| Electrical CAM | Martin Lie | Umoe Mandal AS | Responsible |
| Commissioning CAM | Tore Hansen | Umoe Mandal AS | Responsible |
Executive Project Brief — C-Level Steering Committee
Comprehensive status briefing, variance analysis, and key decisions for Naval Leadership
EVM Health Summary (Status Date: 2026-06-30)
The Skjold-Class Corvette Upgrade Program is at Month 18 of 24 (75.0% duration). Physical progress achieved is 83.46% ($EV = 639.27\text{M NOK}$) against a spend of 672.27M NOK.
- Cost Performance: $CPI = 0.951$ ($CV = -32.99\text{M NOK}$). Overrun driven by resin curing cycle stabilization (WBS 2.0) and titanium silencer alloy re-engineering (WBS 4.0).
- Schedule Velocity: $SPI = 0.835$ ($SV = -126.73\text{M NOK}$). Schedule compression required on WBS 6.0 Combat Systems due to OEM sensor mast delivery lag.
- Forecast at Handover: Projected $EAC = 805.53\text{M NOK}$, requiring a **21.88M NOK** draw against management contingency reserve.
Required Steering Decisions & Recommendations
1. Contingency Budget Authorization: Formalize 21.88M NOK contingency release to cover EAC forecast against the 783.65M NOK adjusted baseline.
2. Fast-Track NSM Cybersecurity Audit: Deploy joint FMA-NSM certification team on-site by August 1 to prevent gating IAS automation network activation.
3. Reserve Sheltered SAT Corridor: Confirm Mannefjorden/Ryfylke naval testing zone for high-speed trials (>45kt) to protect the December 31 delivery milestone.
2. PMO & Project Controls EVM Deep-Dive
Cumulative Earned Value S-Curve (PV, EV, AC), Periodic Variances, and Direct Tufte Labeling
Cumulative Earned Value S-Curve (2025-01 to 2026-12)
Red vertical line marks Accounting Status Date (2026-06)
Monthly Periodic EVM Ledger (NOK)
| Period | PV Cum (NOK) | EV Cum (NOK) | AC Cum (NOK) | Cost Var (CV) | Sched Var (SV) | CPI | SPI | EAC (NOK) |
|---|
6. Subcontractor & CAM Control Account Performance
WBS Level-1 Performance Breakdown, CAM Efficiency Indices, and Completion Projections
Control Account Manager (CAM) Scorecard
| WBS Level 1 Work Package | Responsible CAM | BAC (NOK) | EV Earned (NOK) | AC Incurred (NOK) | Cost Variance (CV) | CPI | SPI | Progress % | Forecast EAC | Status |
|---|
7. Risk & 5x5 Exposure Governance
Expected Monetary Value ($EMV = P \times I$), Schedule Delay Exposure, and Mitigation Actions
5x5 Risk Probability & Impact Heatmap
P5 (0.9)
P4 (0.7)
P3 (0.5)
RSK-001
P2 (0.3)
RSK-004
RSK-007
RSK-006
RSK-003
RSK-005
P1 (0.1)
RSK-002
I1 (<5M)
I2 (5-10M)
I3 (10-15M)
I4 (15-20M)
I5 (>20M)
Active Risk Exposure Breakdown (12.40M NOK EMV)
- RSK-003 (CMS Sensor Bus Latency >50ms): $P=0.35$, Impact: 14.0M, EMV: 4.90M NOK, Delay: 35d. Joint taskforce with Kongsberg Defence.
- RSK-005 (Waterjet Cavitation at Sprint Speeds >45kt): $P=0.30$, Impact: 15.0M, EMV: 4.50M NOK, Delay: 20d. Tunnel testing with SINTEF Ocean.
- RSK-006 (NSM Cybersecurity Accreditation Audit): $P=0.25$, Impact: 6.0M, EMV: 1.50M NOK, Delay: 20d. Dedicated cyber consultant.
- RSK-007 (Autumn Skagerrak Sea States SAT Trials): $P=0.30$, Impact: 5.0M, EMV: 1.50M NOK, Delay: 14d. Sheltered test corridor.
Complete Program Risk Register Log
| Risk ID | Category | Description | Prob | Cost Impact (NOK) | EMV (NOK) | Delay (Days) | Owner CAM | Status |
|---|
IFRS 15 / IAS 37 Financial Accounting & Balance Sheet Position
Revenue Recognition via Input Method, Contingent Provisions, and Cost Capitalization
IFRS Financial Position Reconciliation (as of 2026-06-30)
| Financial Statement Metric | Reported Amount (NOK) | Amount (M NOK) | Accounting Standard & Basis |
|---|---|---|---|
| Original Contract Baseline ($BAC$) | 766,000,000.00 | 766.00M | Original locked baseline (Dim_WBS.csv) |
| Approved Variable Consideration ($VOR$) | +17,650,000.00 | +17.65M | IFRS 15.56 — 5 approved scope amendments |
| Authorized Transaction Price ($BAC_{\text{adj}}$) | 783,650,000.00 | 783.65M | Total contractual billing ceiling |
| Cumulative Recognized Revenue | 639,273,022.55 | 639.27M | IFRS 15 Input Method (83.46% PoC $\times$ 766M BAC) |
| Cumulative Actual Costs Incurred ($AC$) | 672,265,863.46 | 672.27M | Invoiced labor, materials & subcontractors |
| Contract WIP Loss Position (Deficit) | -32,992,840.91 | -33.00M | Net cost deficit absorbed in current period P&L |
| Approved Unbilled VOR Revenue | +17,650,000.00 | +17.65M | Contract Asset (Unbilled revenue on approved changes) |
| IAS 37 Active Risk EMV Exposure | 12,400,000.00 | 12.40M | Probability-weighted active risk contingency |
| IAS 37 Onerous Contract Loss Provision | 21,883,212.00 | 21.88M | Provision for anticipated deficit ($EAC - BAC_{\text{adj}}$) |
| Estimate at Completion ($EAC$) | 805,533,212.00 | 805.53M | Total forecast spend at naval fleet handover |
9. Power BI Service Dashboard Pinning Hub & Alerts
Modular 1x1, 2x1 and 6x4 dashboard tiles optimized for 1-click pinning and data alert triggers
Configured Service Data Alerts
- 🔔 Alert 1 (CPI Floor Breach): Trigger when $CPI < 0.95$ $\rightarrow$ Email to Frank Ellingsen & CFO.
- 🔔 Alert 2 (EAC Contingency Breach): Trigger when $EAC > 805.0\text{M NOK}$ $\rightarrow$ High-priority email to Steering Committee.
- 🔔 Alert 3 (Risk Exposure Alert): Trigger when $\text{Active EMV} > 12.0\text{M NOK}$ $\rightarrow$ Post to MS Teams channel.
- 🔔 Alert 4 (Critical Schedule Delay): Trigger when $\text{Max Delay} > 30\text{ days}$ $\rightarrow$ Notify Yard Production Manager.
Power BI Desktop & Service Quick Launch
The report definitions in PMO_Model.Report/definition/ are 100% compliant with the Microsoft Fabric PBIR format.
Power BI Desktop: PMO_Model.pbip (16 Pages, 134 Visuals)TMDL Model: 92 DAX Measures (100% Direct Lake BPA Compliant)
Data Contracts & Analytical Table Explorer
Audited raw CSV schemas and records loaded into memory via DuckDB engine
Table Inventory & Referential Integrity Status
| Table Name | Rows | Columns | Primary Key | Target Relationship | Integrity |
|---|---|---|---|---|---|
| Dim_WBS | 19 | 7 | Task_ID | Dimension (Work Breakdown) | 100% OK |
| Dim_Date | 24 | 6 | Date_Key | Dimension (2025–2026 Calendar) | 100% OK |
| Fact_EVM_Periodic | 456 | 7 | Fact_ID | 1:N to Dim_WBS & Dim_Date | 0 Orphans |
| Fact_Change_Request_VOR | 8 | 10 | VOR_ID | 1:N to Dim_WBS & Dim_Date | 0 Orphans |
| Fact_Risk_Register | 7 | 12 | Risk_ID | 1:N to Dim_WBS & Dim_Date | 0 Orphans |