Managing risk in infrastructure projects
How to bring your capital project in on time and on budget
Infrastructure projects are complicated, often taking longer and costing more than expected. In today’s economy, getting things right and managing risk is critical to delivering value.
Project directors have dealt with these issues for years but they‘ve had less attention from corporate boards, lenders and investors. That’s now changing.
Because of this shift, we think there are four important things these groups should be considering:
- Is the business case and project plan based on the right analysis and presented in a format senior decision-makers understand?
- Is the board that’s responsible for the project confident that the team managing it has the right capabilities?
- Is the right information on progress milestones, budget and risk being reported continually to senior management?
- Are arrangements in place not just to monitor progress but for stakeholders to take action when needed?