It is important to note that full compliance with FERC Order 881 requirements by July 2025 is mandatory, and it is time to start your FERC 881 Order project and move from inaction to planning and taking action. Our hypothetical scenario uses a nine-month project timeline with a hybrid methodology and Solution Implementation. We have allocated 17 days to complete this step.
“Let our advance worrying become advance thinking and planning” -Winston Churchill.
When designing a plan for your organization, assessing other plans and adjusting your goals based on budgets, time, and scope is crucial to making confident and informed decisions.
FERC Order 881 Project Starting Point
A significant question at this stage is what is needed to start. Project Initiation requires project development and a testing environment, a project team, a kick-off date, preparing your system(s), and core team familiarization. If utilizing software is the choice to accomplish the requirements of FERC 881, preparation for the DEV environment for testing new concepts/versions is required.
Organize the Team
Organize the project team and familiarize them with the chosen project methodology. A hybrid methodology usually leads to the quickest completion time by allowing many tasks to run parallel. You need to document software licensing and services provided if you use a software solution. Create plans for managing approvals for software delivery and organizing maintenance and support plans. These are crucial steps to comply with the FERC Order 881 requirements.
Select the Ideal Team
An ideal project team will include individuals who work in facility ratings and transmission planning. Other key project team members include operations SMEs and at least one individual who knows where the data is located. Having the right team in place can ensure the project is successful and completed on time.
Questions the team needs to ask might include:
- What is the Timeline
- What is the Budget
- Are there obstacles to project completion
- What are the expected outcomes
Duration Variables
Our assumption is our project will take nine months to implement. However, the project’s duration may vary depending on the number of assets and the availability and condition of data. Additionally, the project controller must keep the project on track and in scope, which may require more than a year for some organizations.
Looking Ahead for FERC Order 881 compilance
Next week, we will cover Part Two: Definition and Understanding. By following these guidelines and taking confident and decisive actions, you can ensure that your organization reaches FERC Order 881 compliance by the deadline.
by Rebecca Day
