Building in Change: Project Construction in Asset Intensive Industries
By Sylvie MacKenzie, PMP on Apr 01, 2012
According to a recent survey by the Economist Intelligence Unit, sponsored by Oracle, only 51% of project owners rated themselves as effective at delivering their projects to scope, budget, and schedule when confronted with change. In addition only 43% rated themselves as effective at anticipating potential change.
Even with the best processes and technology in place, change is often an unavoidable part of the construction process. How organizations respond to change can mean the difference between delays and cost overruns, and projects being completed on schedule and on budget.
Implementing Enterprise Project Portfolio Management and using a solution to help manage and automate those process can help asset intensive organizations:
- Govern project and program compliance and regulatory requirements for project success
- Unite project teams and stakeholders through collaboration and strong feedback methods to speed project completion
- Reduce the risk of cost and schedule overruns and any resulting penalties to deliver on time and on budget
- Effectively manage change throughout the project life cycle
- Ensure sufficient capacity, utilization, and availability of people, skills, and other resources to meet commitments.
The results of the recent EIU survey, sponsored by Oracle:"Building in Change: Project Construction in Asset-Intensive Industries", will be revealed in an upcoming webinar with Hart Energy / Oil & Gas Investor, featuring the Economist Intelligence Unit and Oracle on April 11th at 1pm CST.