Over the past decade, the size, expense, and number of organizations working on engineering and construction (E&C) projects has grown exponentially, spawning a new species dubbed “megaprojects”.
The risk inherent in megaprojects is massive. In many cases, mitigating “mega-risk” on these projects require alternative delivery methods – such as joint ventures (JVs) and public-private partnerships (P3s) – to prevent a single organization from shouldering the burden of risk alone.
So, how can you tackle a megaproject with the help of alternative delivery models?
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And, because we’ve delivered over 16,000 projects in over 70 countries, our customers can trust they’re dealing with the best experts, including a 24/7 support team.
Budget and schedule overruns have plagued infrastructure programs for decades.
McKinsey Capital Projects reports that distressed programs often lack adequate controls. These faltering programs do not have robust risk-management protocols – nor do they provide comprehensive reporting on budgets and timelines – ultimately hindering their ability to manage program delivery and control cost overruns.
Infrastructure projects continue to grow in complexity. Huge infrastructure projects in particular often have large project teams spanning many organizations across the globe.
Studies show that larger projects are more likely to incur budget and schedule overruns and that those overruns are significant. The increased risk, reporting requirements and government regulations make information and process management critical for today’s infrastructure projects. With so many different organizations and so much risk involved, the question looms: how do we manage the vast amounts of data and communication on these large, complex global projects?
Construction projects continue to grow in size, complexity and competitiveness. Team sizes quickly expand as a project moves into the construction phase. Schedules are tight and project processes are time sensitive. And with the volume of project information, communication across all of the different organizations ramps up as well.
With all of these moving pieces, understanding process performance, optimization, and standardization are crucial to success.