GOVERNANCE & ASSURANCE
We understand the full cycle of the capital project process and work with the end in view. This may sound obvious and common sense, it is. But many, through inexperience or pressure to deal with the immediate issue, fail to understand the implication of each decision they make at every stage in the process.
Typical of the governance applied to most capital programmes and major projects it is possible to see how the capital delivery process supports business as usual. Effectively and efficiently delivering capital projects is not an end in itself. It grows the business. It improves the operation. It adds value. We provide the insight and experience to enhance business benefits and identify risks and issues before they become costly mistakes.
A major failing of most major projects is the inability to properly estimate the cost of work to be done, at the right stage. Too often projects have budgets fixed too early in the development process. Too often an executive will say 'that's the budget' now get on with it.
Then the questions come:
Why are you late? Why are you over budget: Didn't you think about that?
So, how do you set an appropriate budget? How do you deal with uncertainty?
Whats the difference between top down and bottom up estimating?
Importantly, how do you explain this to your shareholders and stakeholders?
Its not easy, in fact it can be quite complicated if you are not sure how the jigsaw fits together. That's where we can help.
Safe, on time, on budget delivery, that's the goal. But what does it mean to manage capital efficiently? What does it mean to be effective? Whats the difference between a project and a programme? Can you simply describe the difference between an output and an outcome?
Focus on the benefits to be delivered is critical to delivering a successful programme. Understanding the scope and preventing creep another essential factor. The term 'critical path' is often used.
But what is critical? How do you know?
Understanding the many and varied interfaces takes experience. Leading people through complex scenarios and building confidence are all important elements that need to be constantly balanced. That's where we can help. Maintaining a focused balanced view.
So much is talked about risk today. But what is a risk? What is an issue?
How do you effectively manage change?
Early recognition of risks means that the team have time to respond, mitigate and address issues. But you need to see the risk to start with. Thats where experience can be invaluable. Thats where we can help your team see the rocks on the shore and make a plan to avoid them.