Infrastructure projects are becoming bigger, but some projects are either too large for a single organization to execute and/or too expensive to rely solely on public funds.
Joint ventures and consortiums have become the answer to tackling some of these large projects, including those financed through public-private partnerships (P3).
Placing project information, processes, and documents into one central location is critical due to multiple stakeholders involved as well as the stringent transparency and reporting requirements included in P3 contracts.
In the past, large construction projects lasted a few years, generating tens of thousands of documents and a manageable amount of data. Today, these projects are growing into megaprojects that are too large and complex for a single organization or a point solution to handle.
Megaprojects will also require more money and resources, further straining budgets, increasing risk, and intensifying the demand for skilled construction professionals. Joint ventures are formed to unite various organizations with different experiences, specialties, and resources with one goal in mind: to meet the needs of the project.
So, what’s it take for a joint venture (JV) to successfully deliver a large P3 infrastructure project?
The Regina Bypass is the largest transportation infrastructure project in the history of Saskatchewan, as well as the first transportation infrastructure project completed under a P3 model in the province. The CA $1.88 billion investment will:
• Improve safety
• Alleviate traffic congestion
• Stimulate regional growth
• Create job opportunities
• Enhance a key component of Canada’s national highway system
A JV was formed to plan, design, and build the state-of-the-art P3 project due to its size and complexity. The Regina Bypass design-build JV consists of four Canadian-based contractors tasked with carrying out the four-year contract: Parsons Canada, Graham Construction, Carmacks Enterprises, and Vinci Canada
Uniting public and private stakeholders requires a high level of structure, organization, and transparency. Traditionally, each stakeholder involved in the JV is already aligning their internal project management system with the project’s processes, workflows, and rules.
The case wasn’t any different for the Regina Bypass design-builders JV. The JV needed a system that wasn’t affiliated with any of their partners to maintain the joint venture’s own identity on an independent platform.
The JV could potentially encounter substantial hurdles accessing the project data and ensuring consistency and accuracy of information without all parties using such a platform—particularly if one of the partners left the job.
The joint venture required all project information to be uploaded in Oracle Aconex—a cloud-based construction information management and collaboration platform—to ensure all parties have access to project data before the start of construction. New processes and workflows were established fostering a culture of accountability across the entire project today and into the future.
Register for the live webcast: “How the Regina Bypass design-build joint venture achieved project-wide collaboration and control” on Thursday, January 21, 2021 at 2:30pm ET/11:30am PT.
Justin Grill, Parsons Corporation program manager, and our Oracle Construction and Engineering solution experts will share how the JV successfully mitigated risk, enhanced visibility, and increased accountability using Oracle Aconex. Learn how the joint venture achieved the following:
• Saved CA $380 million compared to constructing the bypass through conventional methods
• Built the bypass six years faster than a traditional build
• Protected taxpayers from construction cost overruns and inflation
• Created a central repository for all project documents, communication, and processes
• Maintained accountability and control to better identify project roadblocks
• Established an archive of complete project data accessible for the 30-year operation and maintenance of the project
Learn more about Oracle Aconex.
Oracle Construction and Engineering, the global leader in construction management software and project portfolio management solutions, helps you connect your teams, processes, and data across the project and asset lifecycle. Drive efficiency and control in project delivery with proven solutions for project controls, construction scheduling, portfolio management, BIM/CDE, construction payment management, and more.