The paper looks at joint ventures in the engineering and construction industry but many of the findings arereadily extrapolatable to joint ventures in other industries. Following preparation of the paper some additional survey responses came in but do not modify the results or conclusions. In total over $65 billion of projets are represented in the sample.
Is p3 the cause of private investment decline in public infrastructureDaniel Melo
Ideas about how to improve the financing, transparency, and efficiency in infrastructure projects implementation and management are needed. It is essential to attract investors to help to leverage the much-needed growth in this sector at good rates of returns and well-managed risks.
In 17th century Europe all observable swans were white and by extension all swans were therefore assumed to be white. No non-white swan had ever been observed. In the 18th century, however, black swans were discovered in Western Australia and that discovery undermined the statistics of swans to that date. Previously, the “risk” of a Black Swan was essentially nil, but upon recognition that the improbable was not the same as the impossible the possibility of Black Swans became more likely.
What had changed that made Black Swans more probable? Simply put our perceptions were broadened. In this article we will look at large programs, what creates the possibility of Black Swans and what are some of the new risks we must pay attention to.
Possibility of Black Swans
Program Management is very much about meeting the challenges of scale and complexity. These challenges largely focus on the management of known knowns and known unknowns. But large programs by their very nature move into a new neighborhood where previously rare unknown unknowns are more prevalent. In effect large program risks grow in new non linear ways. What causes this growth? Simply put:
- Scale and complexity move you into a new neighborhood where black swans may be more common
- Scaling drives non linear and non correlated growth in risks
- Complexity masks existing risks
- Complexity creates new risks
So what are Black Swans?
My paper in this month\'s issue of PM World Today tries to provide some guidance for those responsible for large engineering & construction programs.
Prieto post disaster reconstruction model 03 27 13Bob Prieto
Post disaster reconstruction changes each element of the standard construction model and activities normally undertaken in more conventional periods are modified not only by post-disaster logistics constraints but in turn modify post-disaster logistics themselves. In a pre-disaster environment we can simplistically describe construction as occurring within a simple model that includes a set of project inputs which are transformed at a project site, within a well defined framework, to deliver the desired project outputs. Post disaster, each of these elements are significantly modified.
This paper examines how the traditional construction model is changed post-disaster and provides a framework for not only considering construction in a post-disaster environment but also a guide for improving the resiliency of our various frameworks to deal with such eventualities.
Candidate Strategies to Reduce Risks in Large Engineering & Construction Prog...Bob Prieto
Every large engineering and construction program is different as are the risks it faces. There are no silver bullets for managing and reducing risks in these large programs but there are some recurrent strategies. This paper lays out some candidate strategies organized from a “Triple Bottom Line” or sustainability perspective.
I have chosen this sustainability framework in recognition that a more holistic, life-cycle approach is characteristic in these emerging “giga” programs and consistent with the strategic program management approach I have written about previously.
Not every candidate strategy is viable, necessary or desirable on every large engineering and construction program. Nor is the list of such strategies complete. The purpose of this article is to get the reader started on the process of identify strategic options and tactics to reduce the risks that a major program faces.
There is a tendency to think of the essential difference between megaprojects and more traditional sized projects as one of scale. If only it was that simple. A better analogy, and something that we see more clearly in the world of gigaprograms, is that this scaling up
in size has the concomitant effect of “unfolding” unseen dimensions that were likely always there but whose effects were not readily noticeable.
These unseen dimensions:
create new regions of “white space”, that if not aggressively managed, serve as nesting and breeding grounds for new, more systemic type risks
expose a subtle “coupling” across the gigaprogram that at smaller scales was not as significant; this “coupling” is not only direct coupling but importantly indirect
coupling realized through “coupled constraints” or “white space” couplings that previously were not significant
drive us to a level of complexity where the scaling of activities is dramatically outweighed by the scaling of the possible network combinations and effects that
are created.
expose the fragility of many of our assumptions, as longer project development and execution periods that are inherent characteristics of commitment of growing
levels of capital, demonstrate that they are far from static and instead experience “assumption migration”
highlight management dimensions that are less significant on smaller scale projects such as those associated with:
o increased strategic importance (achievement of strategic business objectives or SBOs with their outcomes focus) vs. the output focus of delivering more traditional projects and the emergence of a changed governance regime
o owner, not just project, readiness given the increased level of owner organizational involvement and oversight that gigaprograms attract
o increased importance of multi-party contractual relationships both in the various execution teams and potentially even in the project ownership
structure
expose the need to think about “capital efficiency” in a fuller way than is traditionally experienced on smaller projects where CAPEX or construction
schedule usually suffice as project optimization points.
Impediments for implementing a sound asset management system rev 2Bob Prieto
The State of Good Repair Summit hosted by Rutgers’ Center for Advanced Infrastructure and Transportation provided an opportunity for the exchange of “perspectives” on asset management. This is the perspective of a provider of a comprehensive range of asset management services to a broad cross section of industries including most recently a growing focus on infrastructure asset management driven by a role in planning, designing, building, financing, operating and maintaining road and rail systems delivered under a Public Private Partnership model. Under PPP’s we assume many of the life cycle roles and responsibilities traditionally solely within the purview of the public sector.
We are seeing a convergence across all the markets we serve towards a more holistic, life cycle approach to capital asset portfolio design, initial delivery and the balance of a cradle to grave life cycle. Importantly, we see this perspective encompassing all three of the bottom lines comprising the Triple Bottom Line we associate with sustainability. The introduction of this broadened perspective is starting to shift life cycle considerations from a good business practice to a significant business imperative.
One other dimension is a system performance dimension that manifests itself as business continuity in the private sector but is more closely akin to resilience in public, and for that matter, privately owned infrastructure.
The paper focuses on five questions:
1. What is asset management?
2. What are the characteristics of a sound asset management system?
3. What impediments or obstacles exist with respect to achieving its strategic intent?
4. What are the tactical challenges that exist?
5. How do we define and achieve success?
Is p3 the cause of private investment decline in public infrastructureDaniel Melo
Ideas about how to improve the financing, transparency, and efficiency in infrastructure projects implementation and management are needed. It is essential to attract investors to help to leverage the much-needed growth in this sector at good rates of returns and well-managed risks.
In 17th century Europe all observable swans were white and by extension all swans were therefore assumed to be white. No non-white swan had ever been observed. In the 18th century, however, black swans were discovered in Western Australia and that discovery undermined the statistics of swans to that date. Previously, the “risk” of a Black Swan was essentially nil, but upon recognition that the improbable was not the same as the impossible the possibility of Black Swans became more likely.
What had changed that made Black Swans more probable? Simply put our perceptions were broadened. In this article we will look at large programs, what creates the possibility of Black Swans and what are some of the new risks we must pay attention to.
Possibility of Black Swans
Program Management is very much about meeting the challenges of scale and complexity. These challenges largely focus on the management of known knowns and known unknowns. But large programs by their very nature move into a new neighborhood where previously rare unknown unknowns are more prevalent. In effect large program risks grow in new non linear ways. What causes this growth? Simply put:
- Scale and complexity move you into a new neighborhood where black swans may be more common
- Scaling drives non linear and non correlated growth in risks
- Complexity masks existing risks
- Complexity creates new risks
So what are Black Swans?
My paper in this month\'s issue of PM World Today tries to provide some guidance for those responsible for large engineering & construction programs.
Prieto post disaster reconstruction model 03 27 13Bob Prieto
Post disaster reconstruction changes each element of the standard construction model and activities normally undertaken in more conventional periods are modified not only by post-disaster logistics constraints but in turn modify post-disaster logistics themselves. In a pre-disaster environment we can simplistically describe construction as occurring within a simple model that includes a set of project inputs which are transformed at a project site, within a well defined framework, to deliver the desired project outputs. Post disaster, each of these elements are significantly modified.
This paper examines how the traditional construction model is changed post-disaster and provides a framework for not only considering construction in a post-disaster environment but also a guide for improving the resiliency of our various frameworks to deal with such eventualities.
Candidate Strategies to Reduce Risks in Large Engineering & Construction Prog...Bob Prieto
Every large engineering and construction program is different as are the risks it faces. There are no silver bullets for managing and reducing risks in these large programs but there are some recurrent strategies. This paper lays out some candidate strategies organized from a “Triple Bottom Line” or sustainability perspective.
I have chosen this sustainability framework in recognition that a more holistic, life-cycle approach is characteristic in these emerging “giga” programs and consistent with the strategic program management approach I have written about previously.
Not every candidate strategy is viable, necessary or desirable on every large engineering and construction program. Nor is the list of such strategies complete. The purpose of this article is to get the reader started on the process of identify strategic options and tactics to reduce the risks that a major program faces.
There is a tendency to think of the essential difference between megaprojects and more traditional sized projects as one of scale. If only it was that simple. A better analogy, and something that we see more clearly in the world of gigaprograms, is that this scaling up
in size has the concomitant effect of “unfolding” unseen dimensions that were likely always there but whose effects were not readily noticeable.
These unseen dimensions:
create new regions of “white space”, that if not aggressively managed, serve as nesting and breeding grounds for new, more systemic type risks
expose a subtle “coupling” across the gigaprogram that at smaller scales was not as significant; this “coupling” is not only direct coupling but importantly indirect
coupling realized through “coupled constraints” or “white space” couplings that previously were not significant
drive us to a level of complexity where the scaling of activities is dramatically outweighed by the scaling of the possible network combinations and effects that
are created.
expose the fragility of many of our assumptions, as longer project development and execution periods that are inherent characteristics of commitment of growing
levels of capital, demonstrate that they are far from static and instead experience “assumption migration”
highlight management dimensions that are less significant on smaller scale projects such as those associated with:
o increased strategic importance (achievement of strategic business objectives or SBOs with their outcomes focus) vs. the output focus of delivering more traditional projects and the emergence of a changed governance regime
o owner, not just project, readiness given the increased level of owner organizational involvement and oversight that gigaprograms attract
o increased importance of multi-party contractual relationships both in the various execution teams and potentially even in the project ownership
structure
expose the need to think about “capital efficiency” in a fuller way than is traditionally experienced on smaller projects where CAPEX or construction
schedule usually suffice as project optimization points.
Impediments for implementing a sound asset management system rev 2Bob Prieto
The State of Good Repair Summit hosted by Rutgers’ Center for Advanced Infrastructure and Transportation provided an opportunity for the exchange of “perspectives” on asset management. This is the perspective of a provider of a comprehensive range of asset management services to a broad cross section of industries including most recently a growing focus on infrastructure asset management driven by a role in planning, designing, building, financing, operating and maintaining road and rail systems delivered under a Public Private Partnership model. Under PPP’s we assume many of the life cycle roles and responsibilities traditionally solely within the purview of the public sector.
We are seeing a convergence across all the markets we serve towards a more holistic, life cycle approach to capital asset portfolio design, initial delivery and the balance of a cradle to grave life cycle. Importantly, we see this perspective encompassing all three of the bottom lines comprising the Triple Bottom Line we associate with sustainability. The introduction of this broadened perspective is starting to shift life cycle considerations from a good business practice to a significant business imperative.
One other dimension is a system performance dimension that manifests itself as business continuity in the private sector but is more closely akin to resilience in public, and for that matter, privately owned infrastructure.
The paper focuses on five questions:
1. What is asset management?
2. What are the characteristics of a sound asset management system?
3. What impediments or obstacles exist with respect to achieving its strategic intent?
4. What are the tactical challenges that exist?
5. How do we define and achieve success?
Is it time to rethink project managemnt theoryBob Prieto
Consider this a transition point in my various thinking and writings about program management and by extension management of the projects that comprise these programs. It is driven by a simple glaring fact that our industry more often than not “fails” in our delivery of large projects. I will leave the debate on whether failure is the right term to use until another time but it would certainly be safe to say that large projects “underperform” with respect to the baselines upon which final investment decisions are made and projects “sanctioned”. This performance issue has been well documented by others.
This persistent performance challenge drives me to question whether the theoretical foundations of project management theory as it is widely practiced today are sufficient to meet the challenges of large projects. After all, various management approaches have evolved over time to implement any of a number of management theories. Perhaps large projects, and especially large multi-project programs, require a different theoretical foundation than the traditional theories that underpin our management practices currently afford.
I hope you enjoy this short article and I am interested in your thoughts on the subject.
Objectives of this presentation by Winston Riley, former President of the Joint Consultative Council for the Construction Industry (Trinidad and Tobago) are:
1. To show how procurement methods and delivery systems have acted as drivers for institutional change in the public and private sectors.
2. To highlight some of the negative impacts of procurement methods.
3. To show how private sector public sector partnering can positively affect the change process
ANALYSIS OF RISK CATEGORIES AND FACTORS FOR PPP PROJECTS USING ANALYTIC HEIRA...A Makwana
Success of Public Private Partnership projects is greatly influenced by proper management of the risks associated with the project. All projects which are undertaken using conventional procurement method or using a PPP approach have known risks and unknown risks. Risk identification plays an important role in development of PPP framework. The participation and investment of Private sector has been the main stay of the Government of India policy toward infrastructural growth. In this study main risk categories and factors of Public Private Partnership projects have been recognized. The identification of collective influence of risks and its variation over numerous PPP projects is been done. Generally Analytic Hierarchy Process (AHP) is widely used as multi criteria decision making. Normally it is very hard to meet the consistence need of a comparison matrix in analytic hierarchy process. In this study AHP is used to categories the risks of PPP projects in different levels and the impact of those risks on the PPP projects are identified.
Perspective beyond continuity planning - a value chain approach (v4.0 - 4 j...375 Park Associates
The 2011 monsoon season marked the worst flooding in more than 50 years, leading to the disruption of millions of lives and the closure of thousands of businesses. The Thai Government was predictably ineffective in coordinating a response to the short-term emergency and has yet to fully implement long-term preventive actions. This has left the business community largely on its own; given how recent experiences bias expectations the question of how to effectively prepare for the long-term is of particular importance.
Perspective >> Beyond Continuity Planning – A Value Chain Approach take a look at how leading organizations are actively integrating Value Chain Continuity Planning into their day-to-day activities while seeking to fortify their value proposition for customers
Our Benchmarking Paper highlights the work Prime Alliance has done over the years with its customers and other lenders. Generally speaking the results and conclusions found here are based on the experience of a segment of the country’s top 500 mortgage lending credit unions. Our intent was to understand pull-through rates, lending productivity and what it costs to close a mortgage. What does it take to maximize the first two while minimizing the third? Read on. We’ll share what we’ve learned from the success of our clients, the most efficient lenders in the industry. For more info: www.nafcu.org/primealliance
Application of system life cycle processes to large complex engineering and c...Bob Prieto
The complexity of megaprojects and programs continues to grow and with it the challenges of delivering ever larger and more complex programs. These large complex programs open the door to many new opportunities but also to increased challenges in delivery and sustainment throughout their lifecycle. Prior articles have described the open nature of this large complex program system and compared its attributes to many we find in the world of relativistic physics. These challenges must be addressed recognizing that they arise from a combination of physical, fiscal and human attributes in a realm of complexity which challenges the very foundations of project management theory.
This paper looks at hard systems aspects as contrasted with the soft system aspects more characteristic of an open system. Its purpose is to adapt a systems engineering framework associated with the hard closed elements of these large complex project systems without losing site of the overall open systems nature of large complex programs.
The systems life cycle process codified in ISO 15288 lends itself to application in large complex engineering and construction programs.
Engineering and construction project startupBob Prieto
This paper looks at engineering and construction project startup for three different project execution approaches. While specific to this industry, project professionals in other industries may find it is a good analog for their own efforts.
The paper underscores that:
• Large complex projects require strong foundations
• A day at the beginning of a project is just as valuable as a day at the end
• Strong project foundations are built during project startup
• Vertical startup is enabled by the use of a dedicated startup team
• Project startup should consider lessons learned on other projects
This paper addresses project startup for three general types of contracts:
• Pure design or engineering contracts typically performed for the Owner
• Design/build contracts performed for the Owner but recognizes that engineering may be undertaken by an engineering subcontractor within the D/B team
• Pure construction contract
Is it time to rethink project managemnt theoryBob Prieto
Consider this a transition point in my various thinking and writings about program management and by extension management of the projects that comprise these programs. It is driven by a simple glaring fact that our industry more often than not “fails” in our delivery of large projects. I will leave the debate on whether failure is the right term to use until another time but it would certainly be safe to say that large projects “underperform” with respect to the baselines upon which final investment decisions are made and projects “sanctioned”. This performance issue has been well documented by others.
This persistent performance challenge drives me to question whether the theoretical foundations of project management theory as it is widely practiced today are sufficient to meet the challenges of large projects. After all, various management approaches have evolved over time to implement any of a number of management theories. Perhaps large projects, and especially large multi-project programs, require a different theoretical foundation than the traditional theories that underpin our management practices currently afford.
I hope you enjoy this short article and I am interested in your thoughts on the subject.
Objectives of this presentation by Winston Riley, former President of the Joint Consultative Council for the Construction Industry (Trinidad and Tobago) are:
1. To show how procurement methods and delivery systems have acted as drivers for institutional change in the public and private sectors.
2. To highlight some of the negative impacts of procurement methods.
3. To show how private sector public sector partnering can positively affect the change process
ANALYSIS OF RISK CATEGORIES AND FACTORS FOR PPP PROJECTS USING ANALYTIC HEIRA...A Makwana
Success of Public Private Partnership projects is greatly influenced by proper management of the risks associated with the project. All projects which are undertaken using conventional procurement method or using a PPP approach have known risks and unknown risks. Risk identification plays an important role in development of PPP framework. The participation and investment of Private sector has been the main stay of the Government of India policy toward infrastructural growth. In this study main risk categories and factors of Public Private Partnership projects have been recognized. The identification of collective influence of risks and its variation over numerous PPP projects is been done. Generally Analytic Hierarchy Process (AHP) is widely used as multi criteria decision making. Normally it is very hard to meet the consistence need of a comparison matrix in analytic hierarchy process. In this study AHP is used to categories the risks of PPP projects in different levels and the impact of those risks on the PPP projects are identified.
Perspective beyond continuity planning - a value chain approach (v4.0 - 4 j...375 Park Associates
The 2011 monsoon season marked the worst flooding in more than 50 years, leading to the disruption of millions of lives and the closure of thousands of businesses. The Thai Government was predictably ineffective in coordinating a response to the short-term emergency and has yet to fully implement long-term preventive actions. This has left the business community largely on its own; given how recent experiences bias expectations the question of how to effectively prepare for the long-term is of particular importance.
Perspective >> Beyond Continuity Planning – A Value Chain Approach take a look at how leading organizations are actively integrating Value Chain Continuity Planning into their day-to-day activities while seeking to fortify their value proposition for customers
Our Benchmarking Paper highlights the work Prime Alliance has done over the years with its customers and other lenders. Generally speaking the results and conclusions found here are based on the experience of a segment of the country’s top 500 mortgage lending credit unions. Our intent was to understand pull-through rates, lending productivity and what it costs to close a mortgage. What does it take to maximize the first two while minimizing the third? Read on. We’ll share what we’ve learned from the success of our clients, the most efficient lenders in the industry. For more info: www.nafcu.org/primealliance
Application of system life cycle processes to large complex engineering and c...Bob Prieto
The complexity of megaprojects and programs continues to grow and with it the challenges of delivering ever larger and more complex programs. These large complex programs open the door to many new opportunities but also to increased challenges in delivery and sustainment throughout their lifecycle. Prior articles have described the open nature of this large complex program system and compared its attributes to many we find in the world of relativistic physics. These challenges must be addressed recognizing that they arise from a combination of physical, fiscal and human attributes in a realm of complexity which challenges the very foundations of project management theory.
This paper looks at hard systems aspects as contrasted with the soft system aspects more characteristic of an open system. Its purpose is to adapt a systems engineering framework associated with the hard closed elements of these large complex project systems without losing site of the overall open systems nature of large complex programs.
The systems life cycle process codified in ISO 15288 lends itself to application in large complex engineering and construction programs.
Engineering and construction project startupBob Prieto
This paper looks at engineering and construction project startup for three different project execution approaches. While specific to this industry, project professionals in other industries may find it is a good analog for their own efforts.
The paper underscores that:
• Large complex projects require strong foundations
• A day at the beginning of a project is just as valuable as a day at the end
• Strong project foundations are built during project startup
• Vertical startup is enabled by the use of a dedicated startup team
• Project startup should consider lessons learned on other projects
This paper addresses project startup for three general types of contracts:
• Pure design or engineering contracts typically performed for the Owner
• Design/build contracts performed for the Owner but recognizes that engineering may be undertaken by an engineering subcontractor within the D/B team
• Pure construction contract
I have previously written about the transition that I believe is necessary in project management thinking related to large complex projects. In those writing I describe the shift as analogous to the shift from Newtonian to relativistic physics. Subsequently, I have compared the nature of large complex programs to open systems. Reflecting back, classical project management theory was very much based on closed systems thinking and early applications of systems thinking to projects and engineering was also very much based on closed systems thinking.
This is analogous to the closed systems of Newton and Einstein’s correction of his original General Theory of Relativity through the introduction of the cosmological constant to close a system which he believed behaved mechanistically and not expanding. In hindsight the cosmological constant was not necessary but does suggest some properties of the universe and became relevant in explaining an accelerating expansion of the universe. Subsequently, there was at least one special case where the deterministic nature of a closed system broke down when considering General Relativity suggesting at least some open nature to this system.
Systems nature of large complex projectsBob Prieto
This paper explores the system characteristics and behaviors of large engineering and construction programs with a particular focus on those that would be characterized as complex. It recognizes the interrelated and interacting elements of both programs and projects as they strive to form a complex whole. Large complex programs and projects are not well bounded as classical project management theory as espoused by Taylor, Gantt and Fayol would have us believe but rather behave in both independent and interconnected ways in a dynamic systems environment.
Large complex programs demonstrate the evolutionary nature of all complex systems; uncertainty; and emergence that comes with human actions and interactions. They struggle from insufficient situational awareness, treating the program to be more well-bounded than reality would suggest and using simplified models to understand the complexity inherent in execution. Best practices from project management literature were typically not derived from such environments and, worse, have fallen short on other large complex programs and projects.
In the engineering and construction industry governance needs and requirements exist at
multiple levels. These include:
• Governmental and industry level governance (laws, regulations, codes, standards)
• Enterprise level (encompassing social (stakeholder), political, economic (market,
shareholder, financial institutions), cultural (corporate and national/local),
technological)
• Portfolio and programs
• Project
This paper focuses on the portfolio and program level, collectively referred to as program in
this paper.
Strengthen outcome based capital project deliveryBob Prieto
Over the course of my career I have looked at a number of underperforming mega-projects. In every instance there was a common element of underperformance, the lack of clarity around the strategic business outcomes to be accomplished. Conversely, some of the best performing projects exhibited high clarity of recognized and shared outcomes.
This paper looks at the imperative to continue the shift to outcomes based contracts versus more traditional output based contracting forms. This shift is discussed from the perspective of the engineering and construction industry in the United States but draws upon the experience in other countries and other sectors.
Today’s infrastructure and facilities are “smart”. At least that is our objective as we seek to enhance lifecycle performance and capital efficiency. These “smart” facilities transcend any given sector and bring new challenges to the engineering and construction industry. In some ways our more traditional projects are today outcomes focused or capabilities delivering IT projects with bits of concrete and steel wrapped around them!
This “smart” focus is not limited to just a technology and systems dimension but goes further, demanding an increased and increasing environmental, social and governance (ESG) focus as well. Together “smart” and ESG create a greatly expanded set of interfaces for program and project managers to manage.
Rework in Engineering & Construction ProjectsBob Prieto
This paper is focused on engineering and construction projects which will experience increased emphasis as nations increase their focus on economic stimulus and climate change. It deals narrowly with the inevitable rework these projects often experience and which contributes to the cost and schedule growth we all too often witness. The objective of this paper is to:
• Categorize rework factors into four broad categories – project, human, organizational and complexity
• Identify rework impacts not just on cost and schedule but importantly morale and trust.
• Recognize that strategies exist to reduce the potential for required rework
• Suggest four dozen control points.
In this paper I will attempt to:
• Outline some of the systems of systems challenges that we will likely face.
• Discuss the emergent nature of both the challenges as well as the potential resultant outcomes.
• Draw attention to some of the driving forces acting both on this system of systems as well as the national and sectoral programs that may emerge to respond to this challenge.
• Highlight some of the feedback loops which may exist or emerge from both apparent and hidden coupling.
• Discuss system of system risks, program risks and where our perceptions and appetite for such risks may change over time.
• Outline some particular challenges for program managers as they are engaged in addressing this challenge.
A growing world requires improved and expanded infrastructure. Juxtapose that with the need for massive public investment driven by pandemic created economic weakness and the prospects for significant investment in infrastructure is improved, but as history has taught us not necessarily assured.
We have been through other infrastructure stimulus programs focused on so-called shovel ready projects and have been disappointed. But whether we define them as “shovel ready” or otherwise we need infrastructure projects, especially the largest of them, to be successful.
In this paper we will look at common reasons large scale infrastructure projects fail and importantly suggest some strategies and tactics to improve their success rate.
This paper builds on my beliefs that the prevailing theory of project management has failed us with respect to large complex projects. I have written extensively on this including highlighting that the assumptions of Gantt and Fayol fall short at scale and complexity. In this paper I examine the successes that underpin modern project management theory and seek to understand how the resulting approach to project management has failed to deliver comparable successes with regularity. As I explored these questions, I sought to understand the unique characteristics of the Atlas and Polaris missile programs; the subsequent institutionalization of the perceived success factors; and importantly, did perception and reality align. In other words, have we made an incomplete set of assumptions and institutionalized them?
Impact of correlation on risks in programs and projects Bob Prieto
One of the most under considered elements of cost and schedule risk is the correlation that exists within various WBS elements of a project or across projects comprising a program. Failure to adequately consider correlation between various activities and projects compounds the impact of other factors present in large complex projects.
This paper looks at the special case of decision making under uncertainty. The relationship between uncertainty and complexity is explored as is their joint relationship with large complex projects. The importance of getting these projects well founded from an ability to manage uncertainty is discussed and the aspects of these strong foundations is described
Post Dorian Engineering & Construction in the BahamasBob Prieto
As the task of recovery and rebuilding in the Bahamas post hurricane Dorian begins, it is important to understand that it cannot be business as usual. The increasing frequency and severity of hurricanes, driven by global climate change, cannot be ignored. Building codes will have to be further strengthened and development in coastal areas rethought.
Debating project decisions in an ai enabled environmentBob Prieto
I had the opportunity to watch the first debate between AI powered IBM Debater and a recognized human expert debater. I will not spoil the outcome for those who have not yet watched the debate but I will underscore one key aspect - all learned more about both sides of the position as a result of the debate.
We have seen a construct for the management of large
complex projects laid out in the earlier chapters. In these chapters we will simply lay out some of the main concepts and
considerations for a practitioner. Each of these can be more
extensively developed.
In the world of physics, classical theory breaks down at
scale. Conventional project management theory similarly
seems to break down at scale. The theoretical construct I
have been building to in this book is very much focused on this
project realm where scale and complexity rule.
In developing this theoretical construct I have essentially
considered three simple hypotheses, the first of which is:
Large complex projects are not well served by
conventional project management theory and
practice.
This hypothesis was demonstrated at the outset of this
book and the differential behavior between large and
traditionally scaled projects has been previously noted.
The second hypothesis considered relates to the Theory of
Management as applied to the management of projects. In
simplest terms this hypothesis says:
- The Theory of Project Management does not draw
fully on the richness of the Theory of Management
This hypothesis is demonstrated as we explored the
extensions of the Theory of Management to address chaos and
complexity and the more limited extensions of project
management theory.
The third and final hypothesis we considered focused on
the Theory of Projects, positing:
Large complex projects have significantly different
attributes than the more traditional projects which
comprise the basis for classical project management
theory
This chapter summarizes various aspects of large
projects and provides a foundation to consider what a new
Theory of Project Management for large complex projects may
look like.
In this chapter we will look at a few of the project attributes
that we observe in large complex projects and suggest they
may serve as a basis for a neo-classical Theory of Large
Complex Projects.
Theory of Management of Large Complex Projects - Chapter 7Bob Prieto
The world of large complex projects is challenging to say the least with a majority of these projects significantly under performing. It is this weak performance regime that underpins the key premise of "Theory of Management of Large Complex Projects" – project management theory as it currently exists and is applied to large complex projects falls short, significantly short, of what these projects require.
I have decided to serialize this book for the benefit of those interested in better understanding and improving project performance. If you are interested in purchasing a copy of the 400 page paperback you may click on http://www.lulu.com/us/en/shop/bob-prieto/theory-of-management-of-large-complex-projects/paperback/product-22342232.html
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.