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(OWN-1286) Owner Gaps in Project Control – An Industry Overview

Primary Author: Mr Steven T. Cuneo
Co-author(s): Mr Stephen L. Cabano

Audience Focus: Intermediate
Application Type: Application
Venue: 2013 AACE International Annual Meeting, Washington, DC, USA

Abstract: Recent years have seen an expansion of capital project investment activity on an unprecedented scale world-wide. While these projects include those traditionally considered “large” and “small”, multi-billion dollar capital investment programs (mega-projects) are also being developed at a rate and scale well above historical experience. In many cases, this growth has posed significant program and project management challenges, including control of cost and schedule. Recognizing these challenges, a number of these organizations have sponsored “Cold Eyes Reviews” and “Gap Analysis” efforts, focused on their Project Management and Project Controls “infrastructure” and capabilities to manage this exponential growth effectively as part of their “Due Diligence” and Continuous Improvement Programs. This paper will provide insights into “Common Themes” identified as a result of a cross-section of such “Gap Analysis” efforts. These “Common Themes” are based on findings identified, as well as approaches being taken to remedy deficiencies or proactively upgrade existing Project Controls capabilities in terms of processes, procedures, resources, roles and responsibilities, systems and tools, etc., with respect to capital project investment programs.