The One Belt One Road (OBOR) initiative in China is an estimated $5 trillion infrastructure program spanning across Asia, the Middle East, Europe, and Africa.
Almost 70 countries and international organizations have signed up for the mega-infrastructure project, focused mainly on transport and energy including: roads, railways, bridges, ports, power plants and gas pipelines.
OBOR has created vast opportunities for construction companies focusing on infrastructure projects. With so many OBOR projects routinely launching, the question looms: how can companies best structure their project management and obtain finances to begin these projects?
Thinking about keeping your infrastructure program on track? The following scenarios might sound familiar – and trigger some anxiety:
- Your program just gained approval and funding, and the clock is ticking. You need to ramp up your program quickly, which means bidding and awarding contracts, getting the site ready, and coordinating the many people, processes, and systems, all in a matter of months.
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.
In a recent survey, industry professionals cited the following major challenges in delivering successful infrastructure projects: Design Complexity, Errors and Rework, and Supply Chain Availability (infographic).
The root of many of these problems is the data — the sheer volume of the data generated can quickly overwhelm the project and overshadow the competencies of all those involved.
How much data is actually produced? The largest infrastructure projects produce an average of 130 million emails, 55 million documents, and 12 million workflows.
It’s no surprise that the construction industry has become increasingly complex.
Each project involves many team members, organizations, and moving pieces. These projects also involve many different contract types and various models for managing project information and processes. So how can you determine which type of project management tool to use and how to standardize across your many clients and project types?
Tim Crisp, a Group Manager at John Holland – an international engineering contractor based out of Melbourne, Australia, – found the answer. Leveraging his in-depth knowledge of company-wide systems, Tim and his team moved John Holland’s projects onto the Aconex platform. A portfolio of 30+ existing projects were migrated from a legacy platform to Aconex and new projects are now launched with Aconex as standard. During a recent webinar, Tim shared his experience using a company-wide system to boost productivity and quality across projects.