Access to new resource related to project delivery in capital mega projects added to PMWL
Resource provided by Victor Dantas
2 December 2021 – São Paulo, Brazil – Access to a new resource has been added to the PM World Library (PMWL) related to project delivery in capital megaprojects (oil& gas for example). The new resource is an article titled “Project delivery hubs: Analytics for better megaproject outcomes”, written by a group of experts representing views from McKinsey’s Capital Excellence Practice.
The article explores the example of a capital project in the oil and gas industry which was suffering frequent money losses, over budget and behind schedule. Similar to other megaprojects, the several layers of complexity pose great challenge to capital-project owners and engineering, procurement, and construction (EPC) teams. Moreover, frequently top management doesn’t have a transparent “big picture” of project performance and risks, therefore making bad decisions more often.
To overcome the challenge to get the megaproject back on track, there was introduced a Project Delivery Hub (“PDH”): a hub which is effectively a group of named individuals from each function associated with the project—design, finance, procurement, engineering, and construction, among others—who roll onto and off the PDH team as their expertise is needed during each project phase.
The role of the PDH is to provide a single source of truth and to bolster project transparency. As one of the results of this hub, this megaproject identified opportunities do save lots of work hours for the remainder of the project. By assessing weekly variability in trade such as steel production, it was made possible to accelerate production schedule without extra costs.
To access this new resource, go to the Current Hot Topics in P/PM section of the library at https://pmworldlibrary.net/applications-and-topics/, click on “Data Analytics, Data Mining, Big Data in Projects & Project Management”, scroll down to resource. Must be a registered member and logged-in to access.
This new resource provided through the PMWL university research internship program; to learn more, click here
