Delivering Capital Projects is a complex process that requires the effective integration of a number of variables. The successful delivery of such a project largely depends on frequent measurement of progress, evaluating plans and making adjustments where necessary.
Those responsible for managing capital projects, particularly in the Energy & Resources industry, are often faced with delays that have a major impact on delivery when it comes to budget and time.
Supply chain challenges, improper planning, ineffective project management structures, lack of skills, poor competency of the project team, ignorance to risk management and governance structures often lie at the core of this.
The consequences of these failures are significant, as they not only damage a company’s reputation but erode shareholder value as well. To add to this, failed projects may lead to the loss of a company’s competitive advantage and ability to secure funding in the future.
Our report on the effective project management of Capital Projects in Africa looks at pragmatic solutions that a project team could apply and these include:
- Doing the basics right
- Having an effective project management team in place
- Dealing with risk effectively beyond simple analytical approaches, thus applying a risk impact model that is able to suggest specific actions, organisational conditions and work processes required for fostering a collaborative environment
- Applying African solutions to African challenges
- Finding innovative ways to drive cost and time efficiency from the foundation of the project\Continuously review the project team for scope, design, time and cost-optimisation throughout the project life-cycle
- Select the right partners, tools and techniques as well as integrating the procurement and engineering teams
Adopting the right project management approach goes a long way in setting a project up for success and maintaining a company’s competitive advantage. New and emerging delivery systems, such as the integrated management office, enable improved supply chain integration and thus better performance.
Download the full Capital Projects in Africa report to find out more.