Due to their large size, significant financial and resource outlay, myriad interdependencies and key role in enterprise value creation, capital projects are by nature complex, challenging and require specific attention. The uncertainties of such projects is enough to deem them worrisome, let alone the fact that no two capital projects are alike, or have precisely the same set of objectives, issues and constraints.
These projects typically include some if not all of the following characteristics and challenges:
Large and complex in sizeImperative for the organization's operationHighly visible and have significant impactUsually involve several organizations (client, engineering, construction, equipment)Large capital investment/financial investmentInclude specific time schedules that need to be met yet are almost immediately at riskHighly sensitive to outside influences (e.g. cost of materials, energy prices)Usually have delays and breakdownsDon't always meet the expected or predicted schedules/costAre unpredictable and require flexibility and innovation
In these projects, high levels of individual, team, and group performance are critical for achieving alignment and tapping the leadership prowess of the most senior executives. Success depends on galvanizing program management and project leaders' dexterity, catalyzing supervisors' practical effectiveness and building the morale and buy-in of the greater workforce.
We work with the executive team responsible for large complex capital projects to elevate the performance of their people -- the individuals, teams, and groups -- to deliver significant and measurable improvement in the results of these projects and to ensure the project is delivered on time, within budget, and in accordance with the business case.
The results of our consulting are:
Schedule accelerationSpeed of approvalSignificant cost reductionImproved profitabilityElevated collaboration and cooperation between contracting entitiesOn budget, on time performanceIncreased in quality/Reduction of reworkImplemented new project behaviors and effective actions that allow for breakthrough results to be created and achieved over the long term
Capital Project, Oil and Gas Construction - Joint partners in the oil and gas industry were constructing identical wellhead platforms for significantly divergent prices, despite the CEO's attempt to calibrate the overall construction costs. Out of their work in Breakthrough Thinking, the team successfully re-engineered the construction costs and brought them inline with one another at an average cost of $11 Million dollars per platform, which represented an overall savings of approximately 40%.
Capital Project, Manufacturing Plant - A pharmaceutical company dealing with product shortages, needed to expand its manufacturing capacity. Implementing breakthrough processes to build a larger manufacturing site, the company overcame its track record of poor large-scale project execution - historically projects resulted in budget and time overruns. This time the project was complete on-time and within budget, rapidly tripling the company's manufacturing capacity.
