Are You Incentivizing Project Predictability or Secrecy?

How can we improve the performance of capital projects? Why do so many of our projects experience overruns, despite our best efforts? What can we do to mitigate the risk of projects? These are questions that owners and contractors have been asking themselves for decades, but productivity and performance levels in the engineering and construction industry still lag behind other sectors by a considerable margin. What is responsible?

It is no secret that cost and schedule overruns are the norm for Engineering & Construction projects. Think about what happens when you find out a project is going over budget or schedule. Is the project typically 70, 80, or even 90% complete - too late to mitigate the extent of the overrun?
 
Now multiply this issue by every project in your organization. 

Imagine instead your organization had truly predictable projects, and could confidently forecast and report outcomes as early as possible. What would that be worth? In this article, we dig deeper into these questions and how an emphasis on achieving higher predictability can help improve project outcomes and drive organizational goals.

Read our blog to learn more about building predictability into your enterprise. Need more information on project predictability? Contact A.J. Genzler at 281.671.1029 or andrew.genzler@hexagon.com.
 

What is Predictability and Why is it Important?

Predictability is simply defined as knowing the outcome of an event as early as possible. For construction projects, we mostly focus on cost and schedule predictability. In order to have predictable projects you need early AND accurate forecasts.

CH2M Drives Stronger Project Delivery

EcoSys is used on CH2M’s major projects - such as the Thames Water Tideway Tunnel program - to standardize and automate best practices across business groups and to build the information needed to drive better forecasting and smarter decision making.

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